Crain's New York Business, November 27, 2023 by crains-new-york-business

CRAINSNEWYORK.COM I NOVEMBER 27, 2023

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An exterior shot of Amit Shivprasad’s house on 183rd Street in Hollis, Queens. | BUCK ENNIS

Standard Industries

Hearst

The mayor wants to make basement apartments legal His plan would change building and zoning codes to permit such units in New York and encourage constructing new versions By C. J. Hughes and Mario Marroquin

goes by when I don’t think about what happened,” said Shivprasad, 41, who spent Amit Shivprasad knows the more than $450,000 to repair promise and peril of basement his basement but no longer leases it. “But if you haven’t apartments. The low-cost but often illegal struggled to find housing, you type of housing provided a might not really realize how important these aparthome for him and his ments are. They help family after they emipeople who have nograted from Guyana in BY THE 1997 to Hollis, Queens. NUMBERS where else to go.” There might be And years later, after more soon if Mayor the Shivprasads had Eric Adams has his purchased their own The maximum way. Capitalizing on house down the block square feet of years of momentum on 183rd Street, they ofan ADU that on the local and state fered their basement to would be legal levels, Adams is seekan immigrant family on one- and ing to change zoning from Trinidad in a two-family and building codes show of gratitude for a properties to legalize basement system that allowed apartments like them a toehold in New Shivprasad’s while York. But in 2021 Hurricane Ida also encouraging the conpummeled the neighborhood, struction of new versions to flooded the below-grade unit meet affordable housing goals. The potential can seem great. and drowned two members of the Trinidadian family, similar New York has as many as to what happened to nine other 100,000 basement apartments people living in basements in — officially known as accessory the borough. “There’s not a day that See BASEMENT on Page 31

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Brooklyn developer Potential Adams challengers puts waterfront condo have their own shortcomings into bankruptcy ON POLITICS

The mayor is vulnerable, but his possible rivals, from Antonio Reynoso to Zellnor Myrie, each have weaknesses along with their strengths

ho’s going to run against Mayor Eric Adams in 2025? And will he actual-

ly lose? Neither of these questions, as of now, is answerable. Federal prosecutors are reportedly investigating whether Adams’ 2021 mayoral campaign conspired with the Turkish government and a Brooklyn construction company to direct foreign money into the campaign through straw donations. The investigation is also examining whether the Adams campaign kicked back benefits to the construction company and to Turkish officials, and has focused on Adams’ possible interference in the city Fire Department’s approval of the Turkish consulate building in Midtown. The FBI has seized Adams’ phones and raided the home of his chief fundraiser, among others. Adams has not been accused of any wrongdoing and it’s unclear if he’ll ever be indicted. Bill de Blasio’s mayoral administration was investigated, too, with no indictments ever presented. But Adams has already seen Ross Barkan his ex-Buildings commissioner, Eric Ulrich, indicted in an unrelated bribery case. Adams has never been overwhelmingly popular, and he barely won the Democratic primary two years ago. Democrats are weighing whether to run against him. Beating an incumbent is never easy, and Adams will have a large war chest and durable support in many Black and Latino neighborhoods. If Adams is indicted, even more candidates are expected to emerge. For now, here are some names being floated, and what their strengths and weaknesses might be.

State Sen. Jessica Ramos Strengths: Ramos, 38, has built a profile as an outspoken progressive in Albany who could potentially unite leftist and more moderate Democrats. She chairs the body’s powerful labor committee and those deep ties could boost her. If elected, she would be the city’s first female and first Latina mayor. Adept in front of a camera, she has a high political ceiling if she can meet enough voters. Weaknesses: She isn’t wellknown outside of her Queens district. It’s been almost a century since a politician jumped directly from Albany to City Hall. Last year, she feuded with Alexandria Ocasio-Cortez, who shares an

Queens State Sen. Jessica Ramos (left) and Brooklyn State Sen. Zellnor Myrie (right) are among the most frequently mentioned potential challengers to Mayor Eric Adams in 2025. | NYS SENATE MEDIA SERVICES

overlapping district, over the famed congresswoman’s presence (or lack thereof ) in the community. For moderate Democrats, this is a strength, but AOC’s buy-in will be crucial for any candidate campaigning against Adams from the left. Voters need to be excited.

State Sen. Zellnor Myrie Strengths: Myrie, 37, boasts many of the same strengths as Ramos. He’s part of a new generation of leadership in Albany. Both he and Ramos arrived in the chamber after defeating members of the conservative Independent Democratic Conference in 2018; Myrie’s opponent was a protégé of Adams. Myrie is Black and represents a vote-rich central Brooklyn district where Adams is popular. It can be argued that a Black progressive is the ideal Adams challenger. Weaknesses: Similar, again, to Ramos. Myrie isn’t well-known and has managed a lower profile in Albany than Ramos. He chairs the elections committee but hasn’t found a signature issue that sticks in the minds of voters. He’ll start out far behind in Adams in fundraising. How well he’ll be able to excite voters is an open question.

Kathryn Garcia Strengths: The former Sanitation commissioner came within 10,000 votes of defeating Adams two years ago. Now Gov. Kathy Hochul’s director of state operations, Garcia was the dark horse mayoral candidate who proved adept at uniting wealthier, more moderate Democrats in lower Manhattan and Dumbo with Park Slope progressives. Adams’ various governing failures create a real window of opportunity for Garcia: She can campaign as a technocrat who will manage the city properly. Real estate and finance elites would be

willing to back her, lending her a serious fundraising boost against Adams. She’d be the city’s first female mayor. Weaknesses: She is not particularly charismatic and lucked out somewhat in 2021; it took the implosion of Scott Stringer and a fortuitous New York Times endorsement to launch her into the top tier of candidates. Hochul isn’t very popular and being aligned with her might not be politically helpful. Younger progressive voters, a growing bloc in the city, are not warm to Garcia. And finally, she’s white, and Adams would seek to racially polarize the primary.

Others to watch: Christine Quinn, the homeless services CEO and former council speaker, has expressed interest in running, but not against Adams. If Adams is indicted, she could enter the fray, bringing some of the same strengths and weaknesses as Garcia. Antonio Reynoso, the Brooklyn borough president, would have to risk his city post to run against Adams. An indictment could draw him in, though, and he’d have appeal as a progressive Latino Democrat who won boroughwide. Brad Lander, the city comptroller, and Jumaane Williams, the public advocate, are in the same category as Reynoso: They don’t want to risk their municipal jobs but could be persuaded to run if Adams is badly damaged. If Adams resigns, Williams would be acting mayor until a special election is called. Adrienne Adams, the city council speaker (and no relation to Mayor Adams), is term-limited in 2025, and could run, building a base of support in outer borough Black neighborhoods — but she’s shown no interest in doing so. Ross Barkan is a journalist and author in New York City.

By C. J. Hughes

Brooklyn developer Louis Greco Jr. has filed for bankruptcy protection at a troubled condo project in the Columbia Street Waterfront District. The project, 63 Columbia St., a five-story, 11-unit offering, has been under construction for a couple of years but is not finished and has not yet sold any units. Canadian lender Romspen, which lent $15 million for the project, had moved to foreclose on the condo over the summer, court documents show. But a September auction Romspen sought in order to recoup some of its loan never happened, as Greco and his investors apparently began negotiating with the lender in order to hang on to the project. The Chapter 11 filing, which occurred in the U.S. Bankruptcy Court for the Eastern District of Brooklyn on Nov. 13, could be a move to buy some time.

63 Columbia St., Brooklyn | GOOGLE IMAGES

from No. 63, sued the developer in April for $75,000 in allegedly never-completed “miscellaneous repairs.” In 2015 Greco and his partners paid $3.4 million for 63 Columbia, which is at Congress Street, when it was an empty lot. The state’s attorney general approved the condo’s offering plan in August 2022, though a marketing push never appears to have happened, at a time of slowing condo sales. The bankruptcy filing was first reported by real estate news site PincusCo. Efforts to track down a telephone number for Greco’s firm, Second Development Services, were unsuccessful. A message left for Procida was not returned. And a lawyer for Greco had no comment.

“The give and take of Chapter 11 will prove to be an elixir for the debtor’s ills.” — Louis Greco Jr. No. 63, which could generate a haul of $23 million, according to its approved offering plan, is about 80% constructed, filings show. But Greco needs an additional $3.5 million in financing to bring it across the finish line, he says. The way Greco describes it in the filing, he “is playing Russian roulette with [Romspen’s] collateral because delays relating to the completion of the project are not beneficial to anyone.” “Maximum value can only be achieved if the project is completed,” the filing says. Greco adds that “the give and take of Chapter 11 will prove to be an elixir for the debtor’s ills.” Perhaps best known as codeveloper of 1 Grand Army Plaza, a glass-walled condo designed by Richard Meier called On Prospect Park that went up in 2008, Greco appears to have had a rough recent stretch in terms of litigation. A judge in September ruled that Greco must fork over $2.3 million to his On Prospect Park development partner, Mario Procida, relating to a “previous settlement,” according to filings. Also, the landlord of 186 Montague St. in Downtown Brooklyn, where Greco leased office space from 2015 to 2019, dragged its former tenant into court this fall to recover $100,000 in back rent and related payments, according to a complaint. Plus, a law firm sued Greco last year for $44,000 in unpaid bills, court records show. And the condo board at 75 Columbia St., an 11unit project from a team led by Greco located right around the corner

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2 | CRAIN’S NEW YORK BUSINESS | NOVEMBER 27, 2023

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We hear you. And we’re here to help. All through 2023, we listened — to our clients, teammates and the many communities we serve. And truly hearing what they would like the power to do helped us strengthen our partnerships — and welcome new ones along the way. From couples just starting out to entrepreneurs looking to launch a business, together we accomplished a lot. We can’t wait to see what 2024 has in store. José Tavarez President, Bank of America New York City

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11/16/23 12:38 PM

RESIDENTIAL SPOTLIGHT

Barbara Walters’ five-bedroom, full-floor apartment on the Upper East Side finds a buyer The late newswoman’s former full-floor spread was most recently listed at $17.8 million. By C. J. Hughes

Walters, the first woman to anchor a nightly newscast when she he uptown home of the late teamed with Harry Reasoner to Barbara Walters, the helm ABC Evening News in 1976, groundbreaking newswom- died in December 2022 at 93. It’s not clear from public records an known for nailing down interviews with a long list of world when Walters bought the home or what she paid. And the buyer’s leaders, has landed a buyer. identity is not known. The five-bedroom coThere’s no publicly op at 944 Fifth Ave., No. available tax record for 6, on the Upper East the deal, which does Side went into contract Asking price as of not appear to have this month, according to September for 944 closed yet. Also, Alexa the Olshan Luxury Mar- Fifth Ave., No. 6 Lambert, the Compass ket Report, a roundup of agent marketing the home, did not high-end deals. The apartment, tucked inside a respond to an email. Featuring a living room with a prewar building facing Central Park with only about a dozen units, had fireplace and park views, an eat-in kitchen and a primary suite with a fireplace, the full-floor apartment often teemed with guests, according to its ad. “The knowledge that so many wonderful dinner parties and meetings have happened in this chic resibeen asking $17.8 million as of Sep- dence make this a most unique resitember. That price represents about dence,” says the ad, which also leans a 10% discount from the $19.8 mil- in to the unit’s VIP legacy. “It also lion the apartment sought when it comes with the provenance of a befirst came up for sale in April, at a loved and revered owner who loved time when expensive properties, the apartment and frequently made especially ones uptown, have often history there.” With just one home per floor, struggled to connect.

$17.8M

The building has no shortage of bold-faced names. The father of former Treasury Secretary Steven Mnuchin previously owned an apartment there.

Barbara Walters; 944 Fifth Ave., No. 6, on the UES | GETTY IMAGES, COMPASS

944 Fifth has no shortage of boldfaced names. Robert Mnuchin, the father of former Treasury Secretary Steven Mnuchin, for instance, owned the fifth-floor apartment with his wife, Adriana, before selling it last year for $18 million. Walters broke several glass ceilings in her career in television news, which began in the 1950s with a job as a writer in New York. In 1974 she became co-host of NBC’s Today, the kind of high-level perch that had been almost exclusively the domain of men before, and then rose to the co-anchor chair at ABC just two

years later. But Walters may be best known for a decades-long run of “specials” that often had her sitting down for hard-to-get interviews with world leaders including President Barack

Obama, Cuban Prime Minister Fidel Castro and Russian President Vladimir Putin. Along the way, Walters also co-created and co-hosted the popular ABC daytime talk show The View, which first aired in 1997.

Prominent real estate family the Gindis lands $20M loan to redevelop the former Bay Ridge Century 21 site By Eddie Small

Prominent real estate family the Gindis have landed financing for the massive retail complex they are planning at the former site of their Bay Ridge Century 21 store. The family received $20 million for the development site at 472 86th St. from Peapack-Gladstone Bank, according to property records. A representative for ASG Equities, the real estate investment

ly in their efforts to revitalize the community with this major undertaking.”

Bring the city ‘closer to home’ ASG Equities bought the lot at 472 86th St. in April 2022 for about $14.8 million. The Century 21 at 416 87th St. closed in December 2020, a few months after the retailer filed for bankruptcy protection, which prompted ASG to purchase several parcels nearby. The firm has long been planning to build a retail complex at the site that would span about 150,000 square feet. George Karnoupakis, head of asset management for ASG, told Crain’s in July that the firm was still finalizing its plans for the site, but potential tenants include grocery stores, dry goods stores and fitness centers. The complex could include office space as well. “People who are [living] within

Potential tenants include grocery stores, dry goods stores and fitness centers, as well as office space. arm of the Gindi family, declined to comment. Peapack-Gladstone CEO Doug Kennedy said in a statement that the company is “happy to support the Gindi fami-

A rendering of the redevelopment planned for the former Century 21 site in Bay Ridge. | COURTESY OF ASG EQUITIES

these submarkets, they want to shop there,” Karnoupakis said. “They want to do everything they used to do in the city, but they are doing it [closer to home].”

The Gindi family purchased the Century 21 brand’s intellectual property at auction with a winning bid of $9 million following the bankruptcy protection filing. The

Century 21 at 22 Cortlandt St. in Lower Manhattan reopened to much fanfare in May. C. J. Hughes contributed reporting.

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11/22/23 12:39 PM

Food hardship increased more than 10% last year among New York adults and families with children, report finds By Jacqueline Neber

About 34% of adult New Yorkers and 43% of families with children experienced food hardship in 2022, a more than 10% increase over the prior year for both groups, according to the latest preliminary poverty tracker data from Robin Hood, the Center on Poverty and Social Policy at Columbia University and the Columbia Population Research Center. New Yorkers experience food hardship when food runs out or they worry about it disappearing before enough money comes in to

Food challenges went hand-in-hand with individuals’ health. buy more. The report, released Nov. 14, outlines the phenomenon’s compound effects on other material hardships such as housing through a poverty tracker that collects information from a representative sample of adults in the city over time. Chris Wimer, the director of the

center on poverty and social policy and principal investigator on the study, said the city is seeing a return to prepandemic levels of food hardship as Covid-19 related government support trickles away. Beyond rising hardship, the report found that affording food is “hardly ever” the only issue New Yorkers face. About 81% of New Yorkers dealing with severe food hardship surveyed between 2016 and 2021 dealt with at least one additional issue, such as utilities being cut off, as did 51% of people with moderate hardships related to food. Food challenges went hand-in-hand with individuals’ health, as well: 80% of people facing severe hardship also dealt with at least one healthrelated issue between 2016 and 2021. So did 60% of those experiencing moderate difficulties. Serious psychological distress was common, affecting 42% of people with severe hardship. Potential changes to federal policy place future food hardship in question. Chymeka Olfonse, the managing director of adults

If work requirements are expanded, about 610,000 New Yorkers could risk losing their federal SNAP benefits, the report said. | GETTY IMAGES

and household supports at Robin Hood, mentioned that Congress is currently negotiating the reauthorization of the federal SNAP program. If work requirements are expanded, about 610,000 New Yorkers could risk losing their benefits, the report said. In light of these issues, Olfonse said New York should invest in

creating jobs with benefits, advancement opportunities and sustaining wages while considering policies such as proposed state Assembly bill A6214. The legislation would create a state Supplemental Nutrition Assistance Program minimum benefit program to help households afford food.

Robin Hood is a nonprofit dedicated to fighting poverty based near Union Square. The Center on Poverty and Social Policy at Columbia University and the Columbia Population Research Center are located in Morningside Heights. Robin Hood and Columbia first partnered on the poverty tracker in 2012.

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11/22/23 11:41 AM

As hospital hacks mount, Hochul floats ramped-up regulation By Amanda D’Ambrosio

Robert Hadden | GETTY IMAGES

Columbia sets $100M fund for Robert Hadden sexual assault survivors By Amanda D’Ambrosio

Columbia University and Columbia University Irving Medical Center will set up a $100 million settlement fund for survivors of sexual assault by former gynecologist Robert Hadden, as well as make a series of structural changes that aim to address the university’s failure to protect patients from sexual abuse. The institution’s plan includes provisions to launch an external investigation into Columbia’s failures to prevent abuse, notify survivors of support and resources and fund research around patient safety protocols.

statement. “This announcement aims to ensure we are on a path that repairs harm and prevents further trauma — moving us forward and rebuilding the trust of our entire community.”

Changes to protocols Columbia has previously reached settlements with more than 210 former Hadden patients, totaling more than $200 million. Columbia also announced changes to its employee misconduct protocols. A spokesperson from Irving Medical Center said that the institution is expanding channels for patients and staff to report physician misconduct, making new investments in chaperone training, making investments in predictive analytics to prevent abuse by identifying high-risk behavior by staff and monitoring patient safety programs in partnership with outside experts. The changes follow an investigation into Columbia’s handling of Hadden’s conduct by ProPublica and New York Magazine earlier this year, which found that the institution allowed the gynecologist to continue practicing despite its awareness of patient assault and abuse. The institution’s recent announcement, called “rebuilding trust,” acknowledges some of those failures. Hadden worked at Columbia University Irving Medical Center until 2012. The former gynecologist was convicted of federal assault charges in January, and was sentenced to 20 years in prison in July.

“Columbia failed these survivors, and for that we are deeply sorry.” — Columbia President Minouche Shafik and Irving Medical Center chief executive Dr. Katrina Armstrong said in a statement Columbia will notify nearly 6,500 former patients of Hadden of his conviction and sentence, as well as inform them of support resources and their ability to file suit against Hadden under the Adult Survivors Act, which expires at the end of November. It will also inform patients of how to make a claim to receive settlement funds. The plan was announced on Nov. 13 by Minouche Shafik, president of Columbia, and Dr. Katrina Armstrong, chief executive of Irving Medical Center. “Columbia failed these survivors, and for that we are deeply sorry,” Shafik and Armstrong said in a joint

Hospitals fear that Gov. Kathy Hochul’s new cybersecurity draft regulations could increase financial burdens and bureaucratic hurdles for small facilities and safety-net institutions. The governor released a proposal on Nov. 13 to reduce growing cyberattacks on the health care sector, in light of increased data breaches and ransomware attacks in the past few years. The proposal would require hospitals to ramp up their plans to respond to cyber threats and hire experts. Hospitals welcome the state’s effort to protect them from cyberattacks, which can both compromise patient data and shutter access to care. But the industry has also raised concerns about the financial and logistical burdens that might come with ramping up its cybersecurity response. The proposal, drafted by the Department of Health, aims to safeguard facilities from growing cyber threats. If adopted, the regulations will require hospitals to come up with and test “incident response plans” that describe how they will react to attacks that compromise patient data or impact hospitals’ ability to provide care. Additional requirements include drafting protocols for vetting external companies providing cybersecurity services and notifying the health department of attacks within hours. The rules would also require hospitals to appoint a chief information security officer to oversee and execute their cybersecurity plan.

Cost concerns

The governor’s proposal is meant to reduce growing cyberattacks in heath care. | GETTY IMAGES

noted that requirements to hire a chief information security officer, or offer protections around patient data are already included in federal standards, adding that the association is working with the state to ensure regulations are in alignment. Khare also said that there are some concerns around costs, even with the state’s $500 million budget allocation. “While that’s very help-

Thomas Hallisey, digital health strategy director at the Healthcare Association of New York State, said that in addition to financial challenges, there are also concerns about the timeline for compliance. Hospitals will be required to comply with the new regulations a year after they go into effect—a timeline that’s too quick for smaller facilities and safety-net hospitals that might be dependent on government funding to implement their programs. Despite these challenges, Holmes said that New York’s move to regulate the health care sector is an important first step that could influence further regulation in other states, noting that the regulations address concerns about patient privacy and disruptions to care. The Hochul administration’s move to further regulate hospitals comes amid rising cyberattacks on hospitals and health care facilities. There have been at least 16 cyberattacks on health care facilities in New York this year, according to the state comptroller — and that number is likely higher.

Hospitals welcome the state’s effort, but the industry also has concerns about the possible logistical and financial burdens.

The draft regulations, which Hochul billed as a “nation-leading blueprint,” are part of the state’s broader effort to address cybersecurity concerns in health care and reduce the health sector’s vulnerability. In the 2023-2024 enacted budget, Hochul allocated $500 million for capital improvements to hospital IT. The regulations were presented to the health department’s Public Health and Health Planning Council on Nov. 16. The department will publish them in the state register on Dec. 6, and they will be open for public comment for 60 days. The draft regulations were written to complement the federal Health Insurance Portability and Accountability Act (HIPAA) Security Rule, which focuses on protecting patient data and medical records, according to the governor’s office. But hospital associations are working with the state to ensure that its new regulations do not duplicate federal requirements. “We are seeing a lot of HIPAA-like requirements,” said Puja Khare, vice president of legal, regulatory and professional affairs at the Greater New York Hospital Association. She

ful, it is intended to cover capital costs,” Khare said, including hardware like computers and other technology. Most of the costs of implementing cybersecurity protections are in software, such as rolling out multifactor authentication across a whole health system, Khare said. Installing software requires annual licensing fees, maintenance and personnel to keep applications running. This could be particularly challenging for safety-net facilities, Khare added. Hospitals will also have to invest in either in-house IT employees or contract with other companies to get cybersecurity programs up and running, said Chad Holmes, product specialist at Cynerio, a health cybersecurity firm based on the Upper West Side. This will be especially challenging given the persistent shortage of cybersecurity experts across the country, Holmes said, noting that the health care system has to compete with other industries. “Who’s going to pay more,” Holmes said. “Beth Israel or Goldman Sachs?”

Ransomware vulnerability The health care sector is particularly vulnerable to ransomware attacks, as attackers see an opportunity to threaten patients’ access to care as a means to get payments quickly. One Brooklyn Health experienced a cyberattack last year that forced workers to use pen and paper to keep medical records. Last month, WMCHealth Network’s Margaretville Hospital was victim to an attack that required the health system to divert ambulances to nearby facilities and make decisions about whether or not to discharge patients.

6 | CRAIN’S NEW YORK BUSINESS | November 27, 2023

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SPONSORED CONTENT

As banking becomes more global, customers seek a personal touch In an age of automation and AI, one thing hasn’t changed: Many banking activities require a personalized, human touch. International Finance Bank (IFB) is among the institutions that are embracing the opportunity to provide customized, hands-on service, advising many domestic and foreign clients in the U.S. on complex international matters in both their personal and business banking, often working with multiple generations in the same family. How can banks provide the human touch customers crave while doubling down on technologies that keep them compliant and protect deposits from cybersecurity threats? For insight, Crain’s Content Studio spoke with Nora Pinilla-Shapiro, SVP & Head of International Preferred Banking at IFB, a Miami-based retail and commercial bank with a growing presence in New York City, and Steven Trullijo, First Vice President - International Preferred Banker at the institution.

commercial clients appreciate the personalized and customized service models we strive to provide with excellence. CRAINS: Your bank serves many foreign nationals. What unique needs do foreign nationals have when it comes to banking, do these vary by country of origin, and what are the best practices for addressing them?

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STEVEN TRUJILLO

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CRAIN’S: What trends have you seen among your commercial clients in the New York market in terms of their banking needs in the past few years? What market conditions are on their minds? NORA PINILLA-SHAPIRO: The New York market mirrors the national and international markets in many respects. The post-pandemic issues related to hybrid and fully remote working arrangements and the under-utilization of commercial office space have stressed many businesses, forcing them to explore new approaches and develop innovative solutions to shift with the ever-changing paradigm. More than ever, our

STEVEN TRUJILLO: Although a large segment of our clients are foreign nationals, an increasing number are, or have been, becoming multi-national. Many of our Latin American clients have, over the years, established additional part-time residences in the U.S. New York and South Florida are popular landing places for many of these clients. We have a significant number of legacy families – many in the second and third generations, whom, due to varying political and economic issues in their home country, have invested in homes in this country, as well as in the European countries of their family’s ancestry, such as Spain, Italy, and Portugal. Many of these clients live and

generations’ desire for online access and banking services. However, most impressive and heartwarming are the reactions to our personalized approach and the “family-like” relationships that we have developed with their parents over many years. What these younger generations have repeatedly voiced is that they feel as if they are experiencing the old-school personalized services that their parents have always shared with us. Combining state-of-the-art technology and a personal and tailored approach is a winning formula.

a stronger relationship with their banker?

CRAINS: Compliance and reporting requirements can be complicated in banking when it comes to doing business internationally. What is your bank doing to address the complexities?

PINILLA-SHAPIRO: We are proud of the many multigenerational clients that we have worked so hard to serve and to keep secure and happy while assisting them

CRAINS: Banking has become increasingly tech driven and automated in recent years. How does personalized service come into play in a more tech-driven banking world? TRUJILLO: Our bank is capable of accommodating the younger

CRAINS: What’s next for IFB? How will you be building on your current services?

PINILLA-SHAPIRO: Compliance with the laws, regulations, and procedures is crucial in the banking business – in both domestic and international markets. The new age of Know Your Customer (KYC), seismically impacted by 9/11 and the resulting Patriot Act, is

“We are proud of the many multigenerational clients that we have worked so hard to serve and to keep secure and happy while assisting them in being able to “pass the torch” to their succeeding generations.”- Nora Pinilla-Shapiro conduct business internationally and require tailored access to their accounts. They need a USA FDIC-insured bank that will provide them with a high level of service and understanding of local and international markets. Ultimately, they come to the U.S. for a secure financial system.

TRUJILLO: They should be willing to be forthcoming and open with their banker. They should demand a competitive range of products and services and not settle for disappointment. They should value and appreciate the personalized approach of a banker who makes it available to them and is a caring professional.

in being able to “pass the torch” to their succeeding generations. At the same time, we must do similar planning on our side of the table. We are very focused and proud to work with our talented and caring team, making sure we have in place the next level and generation of bankers who are well-trained and dedicated to maintaining and building upon the strong foundation we have worked so diligently to develop over many years. We continue to innovate and improve our processes to always be up-to-date with the market.

always omnipresent. Additionally, the cybersecurity risks that are growing more present in today’s interconnected world have added another layer of consideration and vigilance to every day of our banking lives. We have a team of professionals with extensive experience in the international market and the necessary parameters to review and stay constantly alert to changes in the laws and regulations of the banking system in the United States.

Personalized Banking in the Heart of NYC: Tailored Solutions with a Human Touch

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CRAINS: Many of Crain’s readers are business owners or executives. How can they build

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11/20/23 8:49 AM

EDITORIAL

Mayor is on the right track with plan to help legalize basement apartments M

any New Yorkers looking for an affordable place to live find themselves in illegal basement units in the outer boroughs. The relatively low rent, often around $1,500, is enticing, but there is a definite tradeoff when it comes to safety: Basement apartments can lack the windows and doors that allow tenants to safely exit in case of a fire or flood. For example, two years ago, during Hurricane Ida, 11 New Yorkers living in basements drowned when their units flooded. Safer, well-regulated basement apartments would be a lifeline for immigrants, low-income residents and others trying to make a way here. A stable, affordable place to live can help workers maintain employment. And renting the units can assists small-property landlords in making ends meet. So we greet with optimism Mayor Eric Adams’ recent plan to help legalize basement apartments and bring them up to code. Though there aren’t many details yet, Adams’ proposal, unveiled in September as part of the City of Yes housing plan, would apply to basement apartments —

officially known as accessory dwelling units, or ADUs — of up to 800 square feet on one- and two-family properties, which could provide “space for multigenerational families, health aides or local workers.” As Crain’s reporters C. J. Hughes and Mario Marroquin note in this week’s cover story, New York has as many as 100,000 basement apartments, and they house up

ered new when they legally enter the market, offer options for off-street parking. But state officials would have to green light changes to the Multiple Dwelling Law. The mayor is in good company. As discussed at a recent Lincoln Institute of Land Policy conference on innovations in affordable housing, municipalities across the nation are considering ADUs, which can include apartments fashioned out of garages and other structures, as solutions to housing shortages. One speaker pointed out that the high cost of constructing an ADU, which some local analysts say could run about $400,000, and the fact that federal programs such as Freddie Mac and Fannie Mae don’t help with financing were major hindrances to getting them into the legal housing stock, with only about 772,000 created across the country since 2015. In addition to the high cost of creating them, the price of bringing a basement apartment up to code can range from $300,000 to $400,000, analysts say. The state is helping: Since last year the state’s

Safer, well-regulated basement apartments would be a lifeline for immigrants, low-income residents and others trying to make a way here. to 400,000 people, according to the city comptroller’s office and advocate groups, though there’s no official tally. Along with making zoning changes to welcome them, Adams could waive the requirement that any new dwelling, including existing ADUs that would be consid-

Division of Housing and Community Renewal has distributed $23 million in grants of up to $125,000, including $2.6 million set aside for fixing up 15 ADUs citywide. Under the mayor’s plan, this will be combined with a city subsidy and dispersed in awards of up to $395,000 each. Homeowners could begin applying for the 15 awards, a mix of grant and low-interest-loan money, this month. Getting these funds into the hands of more homeowners would go a long way toward placing more safe, legal units on the market.

Avoiding future tragedy To ensure all New Yorkers can find a home, all types of housing at different price points must become available. It is smart for the city to recognize that people already live in basement units across the boroughs, so taking steps to make them safe will ensure that more prospective tenants can find a home and help avoid future tragedy as climate-related events such as major storms that cause flooding become more common.

PERSONAL VIEW

Congestion pricing will create an opportunity for comprehensive planning

ew York City will finally imple- change mitigation and adaptation imperment congestion pricing next atives. For example, streets comprise a quarter year. Despite many robust debates about this policy, little has been said of the city’s land area. Congestion pricing about how congestion pricing — coupled will further reshape our already-evolving transportation landscape and with durable changes wrought present opportunities to rebalby the pandemic — presents a ance the use of this precious reonce-in-a-lifetime opportunity source. Our peers like Paris, Barto completely rethink our future celona and Mexico City have aspirations by creating an ambialready seen how transport and tious citywide comprehensive streetscape innovations can emplan. power a more vibrant kind of civNew York has evolved enoric life and amplify urban vitality. mously in the last two decades, Because cities are interconnected proactively creating world-leadsystems, land use patterns and ing environmental policies, cul- Donovan tural amenities and infrastruc- Finn, Ph.D., is commerce will also change, unlocking improvements to the proture. More recently, pandemic an associate cesses that sustain daily life. responses highlighted the value professor of of streets, sidewalks and parks as Environmental Deliveries, waste management, education, emergency services, critical elements of a dynamic Design, Policy stormwater and many other sysand healthy city. Flexible work and Planning tems will experience ripple effects arrangements transformed com- at Stony Brook from congestion pricing, providmuting and reinforced the im- University. He portance of true mixed-use lives in Jackson ing opportunities for smart and forward-thinking solutions. The neighborhoods. Heights. entire layout of the city will need Building on this momentum, congestion pricing can catalyze other ef- to evolve in response. However, harnessing this singular moforts to transform the cityscape in more equitable ways that also bolster the econo- ment of inflection will require breaking my, contribute to better public health out- down silos between public agencies, encomes and help address urgent climate gaging meaningfully with a diversity of

stakeholders and crafting a consensusbased vision for the city that is innovative but also sustainable and just. A citywide comprehensive plan would tie these ambitions to achievable goals with strategic policy recommendations. It’s not a new idea, and most other cities do it regularly. Mayor John Lindsay tried once, an ambitious 1969 plan that was ultimately never adopted by the City Council. Meanwhile today’s standalone plans for resilience, transportation, education and other issues are valuable but ultimately constrained by lack of a mechanism to pull these strands together. The city’s 2019 Charter Revision Commission rejected pursuit of a comprehensive planning mandate. Just four years later, our world is very different. Motivated by congestion pricing and Covid recovery, but also federal funding opportunities, a receptive atmosphere in Albany and challenges like the affordability and climate crises, this is a moment of rare alignment of opportunity and necessity. Smart elected officials like Brooklyn Borough President Antonio Reynoso have already tried to fill this void with efforts like his ambitious Vision for a Healthier, More Equitable Borough. The rest of the city should take note. Congestion pricing’s impacts will ripple

New York must finally accept the need for a true comprehensive plan like almost every other city and town in the United States, writes Donovan Finn. | BLOOMBERG

across every aspect of city life with the potential to create transformative gains in prosperity and livability. But harnessing this opportunity to address many of New York’s grand challenges will require coordinated governance with meaningful opportunities for participation by civic groups, advocates, business interests and the general public. Culturally rich, economically vibrant and equitable cities are not happy accidents. We can use a comprehensive planning approach to create our version of that future right now, or we can muddle through and accept whatever comes next. The choice is ours.

Write us: Crain’s welcomes submissions to its opinion pages. Send letters and op-eds of 500 words or fewer to opinion@CrainsNewYork.com. Please include the writer’s name, company, title, address and telephone number. Crain’s reserves the right to edit submissions for clarity. 8 | CRAIN’S NEW YORK BUSINESS | NOVEMBER 27, 2023

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PERSONAL VIEW

hris Hyams, CEO of Indeed.com, never been a more critical time to reinvest recently cautioned that the pace of in blue-collar labor and educate a new technological innovation today sur- generation about the advantages of joining a union. passes even the effects of the InSpecifically, consider the shortdustrial Revolution. Meanwhile, age of electricians. The U.S. Busociety’s relentless push toward reau of Labor Statistics has said a college degree continues just that at least 73,000 new profesas AI threatens to render certain sionals will be needed by 2032 to college skills obsolete. fill jobs in commercial, industrial, The technology, communicaresidential, datacom or linework. tion, transportation and energy sectors are evolving rapidly, and skilled tradespeople will play an An alternative to the debt trap indispensable role in imple- Paul A. menting the changes that grow Iaccarino is At facilities like ours in East New our real economy. the director of York, Brooklyn union contractors The Association of Builders the Building come together to offer a state Deand Contractors reports that this Trades partment of Labor certified apyear, around 500,000 construc- Educational prenticeship program that is free tion jobs are expected to remain Benefit Fund, of charge. vacant. This situation coincides which offers Apprentices undergo a rigorous with the Biden administration’s free electrical multi-year program, while accubipartisan infrastructure bill, training mulating nearly 1,000 hours of which is allocating $11.7 billion sponsored by classroom training, plus practical to the New York economy, $6 bil- an association experience — pursuing a career lion to New Jersey, and $2.9 bil- of union path while incurring zero college lion to Connecticut. There has contractors. debt. Journeymen electricians can

further progress, with some even becoming licensed electrical contractors, running their own businesses and employing other electricians each with the potential to earn six-figure salaries. Moreover, rising tuition costs are outpacing the average student loan debt growth rate, resulting in a debt crisis that is nothing short of alarming. With a staggering $1.8 trillion in student loan debt across 43.6 million borrowers, it is now the second-highest consumer debt category after mortgages. Skilled trades offer an alternative to this debt trap. According to a 2022 report by the BLS, full-time wage and salary union workers had a median weekly income of $1,216, which is 18% higher compared to the $1,029 weekly income of non-union workers nationwide. Legislation like the Climate Act in New York and Local Law 97 in New York City necessitates the retrofitting of homes, buildings and factories to meet sustainability goals. Electric vehicle adoption is also on the rise, creating a substantial demand for qualified technicians and me-

BLOOMBERG

The future of work: Skilled trades trump traditional, expensive college degrees

chanics capable of working on EVs. To address these challenges and opportunities, the White House has launched the American Climate Corps initiative, aimed at providing young people with skills-based training for careers in clean energy and climate resilience. This program seeks to create more than 20,000 jobs in these sectors, offering pathways to high-quality, well-paying careers in the public and private sectors. As the world shifts toward renewable energy, electric vehicles and climate resilience, the demand for skilled trades to build the infrastructure for the coming century will only grow. As such, recognizing construction careers will be imperative to building a sustainable and resilient future.

Congratulations to Jonathan Mechanic 2023 Lifetime Achievement Award Winner New York Law Journal Fried Frank congratulates a truly outstanding leader, who continues to inspire and take our firm and New York forward and upward, while always championing the next generation. That’s what a true legacy is.

FRIED, FRANK, HARRIS, SHRIVER & JACOBSON LLP friedfrank.com

November 27, 2023 | CRAIN’S NEW YORK BUSINESS | 9

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PEOPLE ON THE MOVE

Advertising Section To place your listing, visit www.crainsnewyork.com/people-on-the-move or, for more information, contact Debora Stein at 917.226.5470 / dstein@crain.com

ADVERTISING / MARKETING

FITNESS

INFORMATION / DATA TECH

Synapse Group, Inc

Blink Fitness

Orion Innovation

Sierra McGuire was promoted to President of Synapse Group, a Dotdash Meredith Company on October 16, 2023, succeeding Scott Macon. Before that, Sierra held multiple leadership roles across Synapse Group, having the privilege to lead smart people with enthusiasm. Sierra has a strong work hard, play hard mentality, and enjoys being in a constantly evolving environment where the process is fluid and creative solutions are the norm.

Guy Harkless has joined Blink Fitness as President. In partnership with the executive leadership team, Guy will oversee member experience, gym operations, as well as develop and execute a comprehensive strategy to support Blink’s future growth and overall business performance. Guy recently joined the Zumiez Inc. Board of Directors, and previously held senior leadership roles at Foot Locker, Inc., Puma, and Nike.

Donna Milrod joins Orion Innovation’s Board of Directors, bringing a wealth of experience as Executive Vice President and Chief Product Officer at State Street Corporation. With over 25 years in banking and financial services, including leadership roles at Deutsche Bank and DTCC, Milrod’s expertise spans technology, financial services, and strategy. She has served on numerous boards and her strong background in operations, strategy, consulting, and M&A will support Orion’s growth strategy.

ENGINEERING

Middough Inc. Middough welcomes Sam Barnes, PE, as President and Chief Executive Officer based in its headquarters in Cleveland, Ohio. With over three decades in the power industry and a track record of impressive leadership positions, Sam brings a wealth of engineering, project management, and leadership experience to Middough and becomes only the third President and CEO in the company’s almost 75-year history. Ron Ledin, who was President and CEO for 45 years, will now serve as the Executive Chairman.

FINANCIAL SERVICES

BankUnited, Inc.

LEGAL SERVICES HEALTH CARE

Clearway Health Robert Voreyer, MBA, has been named chief financial officer of Clearway Health, a specialty pharmacy accelerator partnering with hospitals and health systems to build and strengthen medication access. With more than 25 years of experience as a CFO, investor, capital markets professional and board member working to identify problems, develop options and execute solutions, Voreyer will lead Clearway Health’s fiscal and growth strategy.

Jessica Marvel joins BankUnited as vice president, lending officer for the commercial banking division’s national Marvel HOA and property management group. Marvel’s 15 years of experience comes with extensive knowledge of HOA lending and a Loiacano stellar reputation. In her new role, she provides financing solutions for capital improvement loans to community associations nationwide. Sal Loiacano joins BankUnited’s commercial banking team as vice president and senior commercial banking relationship manager, responsible for developing and strengthening commercial client relationships. He brings 30 years of experience to his new role and a deep understanding of the financial needs of middle market companies.

Thompson Coburn LLP Howard Lavin has joined the New York office of Thompson Coburn LLP as a partner in the labor and employment practice. Lavin counsels clients on a range of local, state and federal employment laws and related issues, including discrimination, harassment, wage-and-hour, and M&A due diligence. Lavin will be a keystone for expanding the firm’s labor and employment services on the East Coast. Thompson Coburn’s New York office was established in 2021 through its combination with Hahn & Hessen.

COMPANIES ON THE MOVE To place your listing, visit www.newyorkbusiness.com/companymoves or contact Debora Stein at 917.226.5470 / dstein@crain.com HONORS / AWARDS

EisnerAmper New York NY 212-949-8700 eisneramper.com Global accounting, tax and advisory firm EisnerAmper has earned ClearlyRated’s “Best of Accounting 5-Year Diamond Award” for client service excellence. Over 1,000 clients gave feedback on being responsive, proactive, forward thinking, understanding of client goals, etc. The percentage of the firm’s client satisfaction scores of 9 or 10 out of 10 were much higher than the industry average. EisnerAmper has earned the Best of Accounting client satisfaction designation every year since 2017.

ANNOUNCE

YOUR BIG NEWS IN CRAIN’S!

NEW OFFICES

BDO USA, P.C. New York, NY 212-885-8000 bdo.com BDO USA, one of the nation’s leading accounting and advisory firms, has relocated its New York City offices, uniting them in the iconic MetLife Building at 200 Park Avenue. This move represents an exciting milestone for BDO as it brings together its New York City teams, comprising of over 765 professionals, under one roof in the heart of midtown Manhattan. At BDO, our purpose is helping people thrive, every day. Together, we are focused on delivering exceptional and sustainable outcomes for our people, our clients and our communities. Across the U.S., and in over 160 countries through our global organization, BDO professionals provide assurance, tax and advisory services to a wide range of publicly traded and privately held companies.

STAY AHEAD OF WHAT’S NEXT IN INDUSTRY NEWS RECOGNIZE TOP ACHIEVERS IN NEW YORK’S PREMIER PUBLICATION

MAKE AN ANNOUNCEMENT Debora Stein / dstein@crain.com CrainsNewYork.com/COTM

10 | CRAIN’S NEW YORK BUSINESS | November 27, 2023

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NEW YORK’S LARGEST PRIVATE COMPANIES THE CRAIN’S LIST of privately held companies is an annual check-up on the city’s biggest firms. It has documented 2020, when most companies took big hits to their revenue and others soared as they pivoted their business to meet the needs of a global pandemic. Last year’s list showed major growth as firms left the worst of the storm behind them. This year, the list, which is ranked by 2022 revenue, tells a story of resilience. The average revenue of firms on the list is $1.7 billion, with companies growing their bottom lines by an average of 21%. While that figure is slightly lower than last year’s growth rate of 29%, the growth was experienced by more organizations; last year 67% of the companies experienced growth and this year that figure climbed to 75%. In all, the 125 featured companies added more than $212 billion in revenue to the local economy. All of that growth wouldn’t be possible without a workforce to match. The companies on this year’s list employ just under 200,000 workers, with an average local headcount of about 2,600. See the full list on pages 12-19.

—Amanda Glodowski

INSIDE

P. 12

P. 14

P. 16

P. 18

Paul Luthringer

Justin Venneri

Vishal Garg

Trump Golf Links

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Seven ● Inc. Adams & Co. Real Estate ● AFD Contract Furniture Inc. ● Alcott HR ● Alliance Shippers Inc. ● Allied Beverage Group ● AmTrust Financial Services ● Atrium ● Axtria Inc. ● Barr & Barr Inc. ● Benfield Electric Supply Co. ● BlockFi ● Bloomberg LP ● Breakthru Beverage Group ● Brooklyn Nets ● CannonDesign ● Central National Gottesman Inc. ● CGS ● Chelsea Senior Living ● Corgan ● Curry Automotive ● Diversant ● Doherty Enterprises ● E.W. Howell Construction Group ● Eileen Fisher Inc. ● E-J Electric Installation Co. ● Empire Office Inc. ● Fedway Associates Inc. and Affiliates ● FreshDirect ● Gellert Global Group ● Gensler ● Goya Foods Inc. ● GPI Greenman-Pedersen Inc. ● GZA GeoEnvironmental of New York ● H&H ● Harry’s ● Hearst ● HNTB New York Engineering and Architecture ● HOK ● Horizon Media Inc. ● Hudson Meridian Construction Group ● IA Interior Architects ● ICC Industries Inc. ● Imperial Bag & Paper Co. ● INVNT Grioup ● Iovino Enterprises ● J. Crew ● J.M. Huber Corp. ● J.T. Magen & Co. Inc. ● JRM Construction Management ● Justworks ● Kobalt ● Kohn Pedersen Fox Associates ● Krasdale Foods Inc. ● LRC Construction LLC ● Major League Baseball ● Manhattan Beer Distributors ● Mediaocean ● Mindlance ● Minute Media ● Mitchell Martin Inc. ● National Basketball Association ● Navillus ● New Jersey Devils ● New York Giants ● New York Islanders ● New York Jets ● New York Mets ● New York Yankees ● NFI ● Noom ● Omnibuild ● Perkins Eastman ● PIM Brands Inc. ● Pomptonian Food Service ● Posillico Civil Inc. ● PrestigePEO ● Pride Global ● Ramp ● Red Apple Group Inc. ● Renco Group Inc. ● Rokt ● Russell Reynolds Associates ● Saatva ● Schimenti Construction Co. ● Schweiger Dermatology Group ● SeatGeek ● Sigma Plastics Group ● Skidmore, Owings & Merrill ● Skyline Restoration Inc. ● Solomon Page ● Somnia Inc. ● Standard Industries ● Stanford Investment Group ● Stark Carpet Corp. ● STO Building Group ● STV ● Suffolk ● Sugar Foods Corp. ● Synechron Inc. ● Syska Hennessy Group ● Taub Family Cos. ● TDX Construction Corporation ● The LiRo Group ● Thornton Tomasetti Inc. ● Toorak Capital Partners ● Torcon Inc. ● Tory Burch ● Trammo Inc. ● TransPerfect ● Triton Construction Co. ● Trump Organization ● Turtle ● Univision Communications Inc. ● Urban Atelier Group ● Vericon Construction Co. ● Via ● Vice Media Inc. ● Vista Food Exchange Inc. ● Warby Parker Inc. ● Weeks Marine Inc. ● Wiz ● Wm. Blanchard Co. ● Ziff Davis Inc. ● 24 Seven Inc. ● Adams & Co. Real Estate ● AFD Contract Furniture Inc. ● Alcott HR ● Alliance Shippers Inc. ● Allied Beverage Group ● AmTrust Financial Services ● Atrium ● Axtria Inc. ● Barr & Barr Inc. ● Benfield Electric Supply Co. ● BlockFi ● Bloomberg LP ● Breakthru Beverage Group ● Brooklyn Nets ● CannonDesign ● Central National Gottesman Inc. ● CGS ● Chelsea Senior Living ● Corgan ● Curry Automotive ● Diversant ● Doherty Enterprises ● E.W. Howell Construction Group ● Eileen Fisher Inc. ● E-J Electric Installation Co. ● Empire Office Inc. ● Fedway Associates Inc. and Affiliates ● FreshDirect ● Gellert Global Group ● Gensler ● Goya Foods Inc. ● GPI Greenman-Pedersen Inc. ● GZA GeoEnvironmental of New York ● H&H ● Harry’s ● Hearst ● HNTB New York Engineering and Architecture ● HOK ● Horizon Media Inc. ● Hudson Meridian Construction Group ● IA Interior Architects ● ICC Industries Inc. ● Imperial Bag & Paper Co. ● INVNT Grioup ● Iovino Enterprises ● J. Crew ● J.M. Huber Corp. ● J.T. Magen & Co. Inc. ● JRM Construction Management ● Justworks ● Kobalt ● Kohn Pedersen Fox Associates ● Krasdale Foods Inc. ● LRC Construction LLC ● Major League Baseball ● Manhattan Beer Distributors ● Mediaocean ● Mindlance ● Minute Media ● Mitchell Martin Inc. ● National Basketball Association ● Navillus ● New Jersey Devils ● New York Giants ● New York Islanders ● New York Jets ● New York Mets ● New York Yankees ● NFI ● Noom ● Omnibuild ● Perkins Eastman ● PIM Brands Inc. ● Pomptonian Food Service ● Posillico Civil Inc. ● PrestigePEO ● Pride Global ● Ramp ● Red Apple Group Inc. ● Renco Group Inc. ● Rokt ● Russell Reynolds Associates ● Saatva ● Schimenti Construction Co. ● Schweiger Dermatology Group ● SeatGeek ● Sigma Plastics Group ● Skidmore, Owings & Merrill ● Skyline Restoration Inc. ● Solomon Page ● Somnia Inc. ● Standard Industries ● Stanford Investment Group ● Stark Carpet Corp. ● STO Building Group ● STV ● Suffolk ● Sugar Foods Corp. ● Synechron Inc. ● Syska Hen NOVEMBER 27, 2023 | CRAIN’S NEW YORK BUSINESS | 11 nessy Grou 11/21/23 1:47 PM

THE LIST LARGEST PRIVATELY HELD COMPANIES New York–area companies ranked by 2022 revenue

RANK

amanda.glodowski@crainsnewyork.com

2023 PROJECTED REVENUE (IN MILLIONS)

2023 TOTAL COMPANY EMPLOYEES 1 NATURE OF BUSINESS

PHONE/ WEBSITE

TOP EXECUTIVE(S)

Bloomberg LP 731 Lexington Ave. New York, NY 10022

212-318-2000 bloomberg.com

Mike Bloomberg Chief executive

$12,200.0 2 +10.9%

n/d

20,000 2 Global business, financial information and news

Hearst 300 W. 57th St. New York, NY 10019

212-649-2000 hearst.com

Steven Swartz, President, chief executive William Hearst III, Chairman Frank Bennack Jr., Executive vice chairman, former chief executive

$11,800.0 -0.8%

n/d

21,790

Standard Industries 9 W. 57th St. New York, NY 10019

212-821-1600 standardindustries.com

David Millstone David Winter Co-chief executives

$11,000.0 +10.0%

n/d

Major League Baseball 1271 Sixth Ave. New York, NY 10020

646-495-4091 mlb.com

Rob Manfred Commissioner of baseball

$10,800.0 2 n/d

n/d

STO Building Group 4 330 W. 34th St. New York, NY 10001

212-481-6100 stobuildinggroup.com

James Donaghy, Executive chairman Robert Mullen, Chief executive

$10,390.0 +9.3%

National Basketball Association 645 Fifth Ave. New York, NY 10022

212-407-8000 nba.com

Adam Silver Commissioner

$10,000.0 3 n/d

n/d

Ramp 71 Fifth Ave. New York City, NY 10003

805-223-3307 ramp.com

Eric Glyman Chief executive

$10,000.0 3 n/d

n/d

Finance automation platform

Central National Gottesman Inc. 3 Manhattanville Road Purchase, NY 10577

914-696-9000 cng-inc.com

Andrew Wallach President, chief executive

$9,300.0 +31.0%

n/d

4,300

Sales and distribution of pulp, paper, tissue, packaging and other products

Horizon Media Inc. 75 Varick St. New York, NY 10013

212-220-5000 horizonmedia.com

Bill Koenigsberg, Founder, president, chief executive Vincent O'Toole, Executive vice president, chief operating and financial officer

$8,700.0 5 -8.4%

n/d

2,300 5 Media and marketing services

Red Apple Group Inc. 800 Third Ave. New York, NY 10022

212-956-5803 ragny.com

John Catsimatidis Chairman, president, chief executive

$7,100.0 2 +6.0%

n/d

Breakthru Beverage Group 6 60 E. 42nd St. New York, NY 10165

212-699-7000 breakthrubev.com

Tom Bené, President, chief executive Danny Wirtz, Charles Merinoff Co-chairmen

$6,400.0 2 +14.3%

n/d

Trammo Inc. 8 W. 40th St. New York, NY 10018

212-223-3200 trammo.com

Edward Weiner President, chief executive

$6,400.0 +52.4%

n/d

AmTrust Financial Services 59 Maiden Lane New York, NY

877-528-7878 amtrustfinancial.com

Barry Zyskind President, chief executive

$5,100.0 2 +10.9%

n/d

6,036 2 Property and casualty insurance company

Renco Group Inc. 1 Rockefeller Plaza New York, NY 10020

212-541-6000 rencogroup.net

Ira Rennert Founder, chairman, chief executive

$5,000.0 2 0.0%

n/d

15,000 2 Military vehicles, automotive interiors, pallet racks, magnesium and refined metals

Imperial Bag & Paper Co. 255 U.S. Route 1 and Route 9 Jersey City, NJ 07306

201-437-7440 imperialdade.com

Robert Tillis, Chairman Jason Tillis, President, chief executive

$4,572.2 +61.8%

$5,400.0

7,200

Wholesale food service and Industrial packaging and janitorial supplies

Suffolk 50 Rockefeller Plaza New York, NY 10020

646-952-8000 suffolk.com

Thomas Giordano, General manager Ralph Esposito President, Northeast and Mid-Atlantic regions

$4,560.5 +13.3%

$5,200.0

1,746

Real estate, construction, general contractor, builder, contractor, construction manager

COMPANY

1 2 3 4 5 6 6 8 9 10 11 11 13 14 15 16 Media moves 17 18 19 20 21 22

NFI 877-634-3777 Ike Brown, Jeffrey Brown 2 Cooper St. nfiindustries.com Vice chairs GLOBAL MEDIA GIANT HEARST is a regular Camden, NJ 08102 Sidney top Brown,firm Chief executive

GETTY IMAGES

2022 REVENUE (IN MILLIONS) % CHANGE VS. 2021

on Crain’s privately held companies list, and this With $11.8 billion in revenue PrestigePEO year is no different. 516-692-8505 Andrew Lubash 538 BroadhollowinRoad prestigepeo.com Founder, chief22% executive 2022, the company’s revenue growth is up Melville, NY 11747 Robyn Rusignuolo over the past 10 years. The firm continues to grow, officer investing $1 billion in acquisitions Chief overoperating the past two years, with more than $12 billion in investJ.M. Huber Corp. 732-603-3643 Gretchen McClain past decade, according to Paul Lu499 Thornall St. ments over the huber.com President, chief executive thringer, Hearst’s vice president of marketing and Edison, NJ 08837 communications. While profits from the B2B portion of the company are approaching 50%, Univision corporate.univision.com Wade DavisLuthCommunicationsringer Inc. also mentioned another impressive Chief executive feat of Paul Luthringer605 Third Ave. the firm: Its newsrooms are the same size as they New York, NY 10158 were five years ago. In 2022, newsroom cuts were up by 20% across the industry from 2021. J. Crew jcrew.com Adam Brotman — Amanda 225 Liberty St. Chief Glodowski executive

COMPANY SPOTLIGHT

Hearst

A year of growth $3,900.0 7 +25.0%

n/d

RAN

Diversified global information, services and media company Global building materials

26,906 3 Sports media

$11,096.0

4,350

Construction management and general contracting

22,081 3 Sports association intended to manage and organize basketball tournaments.

n/d

Retail, energy and real estate, media

7,000 2 Wine and spirits distribution

n/d

Commodity merchandizing, distribution and transportation

17,000 8 Third-party logistics company

MEDIAN REVENUE of companies featured on Crain’s list jumped to $547 million, a 15% increase from last year. $3,661.4 +22.5%

$600

$4,000.0

34,000

Median revenue (in millions) Professional employer organization

$547

$500 $470

$400 $300

$368

$200 $100 0

2012

8 $3,350.0$426 0.0%

$469 $400

n/d

manufacturer

n/d

2013

2016 2017

2014 2015

$2,300.0 2 +9.5%

$475

$450 4,900 $4478 Ingredients$450 and materials $419

$2,570.0 9 +2.8%

n/d

Hispanic-American media

2018

2019

2020

n/d

9,000 2 Apparel stores

2021 2022

Source: Crain’s analysis

New York, NY 10281

12 | CRAIN’S NEW YORK BUSINESS | November 27, 2023

Sigma Plastics Group Page and Schuyler Ave. Lyndhurst, NJ 07071

954-429-6100 sigmaplasticsgroup.com

Mark Teo, President, chief executive Andrew Teo, Chief financial officer

$2,250.0 -10.0%

n/d

5,000

Goya Foods Inc.

201-348-4900

Robert Unanue

$2,000.0

500

P012_P020_CN_20231127.indd 12

1 1 1 1 1 1 1 21 31 41 5 2 6 2 62 82 92 1 12 12 12 12 12 13 13 13 13 23 23 23

Flexible packaging 11/21/23 2:46 PM

Food manufacturing, packaging

com

n, y

als

547

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$547

2022

alysis

10 11 11 13 14 15 116 217 318 419 5 20 6 21 622 823 924 Does your relationship with 10 your ta x advisor still add up? 25 11 25 11 27 Par tner-owned, 13 award-winning Anchin 28 14 focuses on ma ximizing 29 your ta x savings so 15 16 30 that you can invest in your business and 17 31 team. 18 32 19 33 Scan here to sign up for our year-end tax planning webinar. 34 20 35 21 36 22 RANK

Red Apple Group Inc. 800 Third Ave. New York, NY 10022

212-956-5803 ragny.com

John Catsimatidis Chairman, president, chief executive

$7,100.0 +6.0%

n/d

Breakthru Beverage Group 6 60 E. 42nd St. New York, NY 10165

212-699-7000 breakthrubev.com

Tom Bené, President, chief executive Danny Wirtz, Charles Merinoff Co-chairmen

$6,400.0 2 +14.3%

n/d

Trammo Inc. 8 W. 40th St. New York, NY 10018

212-223-3200 trammo.com

Edward Weiner President, chief executive

$6,400.0 +52.4%

n/d

AmTrust Financial Services 59 Maiden Lane New York, NY

877-528-7878 amtrustfinancial.com

Barry Zyskind President, chief executive

$5,100.0 2 +10.9%

n/d

6,036 2 Property and casualty insurance company

Renco Group Inc. 1 Rockefeller Plaza New York, NY 10020

212-541-6000 rencogroup.net

Ira Rennert Founder, chairman, chief executive

$5,000.0 2 0.0%

n/d

15,000 2 Military vehicles, automotive interiors, pallet racks, magnesium and refined metals

Imperial Bag & Paper Co. 255 U.S. Route 1 and Route 9 Jersey City, NJ 07306 COMPANY

201-437-7440 imperialdade.com PHONE/

Robert Tillis, Chairman Jason Tillis, President, chief executive

WEBSITE

TOP EXECUTIVE(S)

Suffolk Bloomberg LP 50 Rockefeller Plaza 731 Lexington Ave. 10020 New York, NY 10022

646-952-8000 212-318-2000 suffolk.com bloomberg.com

Thomas Giordano, General manager Mike Bloomberg Ralphexecutive Esposito Chief President, Northeast and Mid-Atlantic regions

$4,560.5 2 $12,200.0 +13.3% +10.9%

$5,200.0 n/d

Hearst NFI W. 57th St. 300 2 Cooper New York, St. NY 10019 Camden, NJ 08102 Standard Industries 9PrestigePEO W. 57th St. 538 York, Broadhollow Road New NY 10019 Melville, NY 11747 Major League Baseball 1271 Sixth Ave. J.M. York, HuberNYCorp. New 10020 499 Thornall St. Edison, NJ 08837 STO Building Group 4 330 W. 34th St. Univision New York, NY 10001 Communications Inc. 605 Third Ave. National Basketball New York, NY 10158 Association 645 Fifth Ave. J. Crew New 10022 225 York, LibertyNYSt.

212-649-2000 877-634-3777 hearst.com nfiindustries.com

Steven Swartz, President, chief executive Ike Brown, Jeffrey William Hearst III, Brown Chairman Vice chairs Frank Bennack Jr., Executive vice chairman, former chief executive Sidney Brown, Chief executive David Millstone AndrewWinter Lubash David Founder, executives chief executive Co-chief Robyn Rusignuolo ChiefManfred operating officer Rob Commissioner of baseball Gretchen McClain President, chief executive

$11,800.0 7 $3,900.0 -0.8% +25.0%

n/d n/d

$10,800.0 2 n/d $3,350.0 8 0.0%

n/d

26,906 3 Sports media

n/d

4,900 8 Ingredients and materials manufacturer

212-481-6100 stobuildinggroup.com corporate.univision.com

James Donaghy, Executive chairman Robert Mullen, Chief executive Wade Davis Chief executive

$10,390.0 +9.3% $2,570.0 9 +2.8%

$11,096.0

4,350

n/d

212-407-8000 nba.com

Adam Silver Commissioner

$10,000.0 3 n/d

n/d

jcrew.com

Adam Brotman Chief executive

$2,300.0 2 +9.5%

n/d

805-223-3307 ramp.com 954-429-6100 sigmaplasticsgroup.com

Eric Glyman Chief executive Mark Teo, President, chief executive Andrew Teo, Chief financial officer

$10,000.0 3 n/d $2,250.0 -10.0%

n/d

5,000

Flexible packaging

914-696-9000 Wallach EXCLUSIVE DATA? VISIT CRAINSNEWYORK.COM/LISTS. $9,300.0 n/d WANT MORE OFAndrew CRAIN’S cng-inc.com President, chief executive +31.0% 201-348-4900 Robert Unanue $2,000.0 $2,000.0 goya.com President, chief executive 0.0%

4,300

Sales and distribution of pulp, paper, tissue, packaging and Food manufacturing, packaging other products and distribution

New York, NY 10281 Ramp 71 Fifth Ave. Sigma Plastics New York City, NYGroup 10003 Page and Schuyler Ave. Lyndhurst, NJ 07071 Central National Gottesman Inc. Foods Inc. Road 3Goya Manhattanville 350 County Purchase, NYRoad 10577 Jersey City, NJ 07307 Horizon Media Inc. Gensler 75 Varick St. 1700York, Broadway New NY 10013 New York, NY 10019 Red Apple Group Inc. 800 Third Ave. New York, NY 10022 ICC Industries Inc. 725 Fifth Ave. Breakthru Beverage Group 6 New York, NY 10022 60 E. 42nd St. New York, NY 10165 Tory Burch 11 W. 19th St. Trammo Inc. New York, NY 10011 8 W. 40th St. New York, NY 10018

212-821-1600 516-692-8505 standardindustries.com prestigepeo.com 646-495-4091 mlb.com 732-603-3643 huber.com

212-220-5000 212-492-1400 horizonmedia.com gensler.com 212-956-5803 ragny.com

212-521-1700 iccchem.com 212-699-7000 breakthrubev.com 212-683-2323 toryburch.com 212-223-3200 trammo.com

2022 REVENUE (IN $4,572.2 MILLIONS) +61.8% % CHANGE VS. 2021

$11,000.0 $3,661.4 +10.0% +22.5%

$5,400.0

2023 PROJECTED REVENUE (IN MILLIONS)

n/d $4,000.0

n/d

7,000 2 Wine and spirits distribution

n/d

7,200

Commodity merchandizing, distribution and transportation

Wholesale food service and

2023 TOTAL COMPANY Industrial packaging and janitorialOFsupplies EMPLOYEES 1 NATURE BUSINESS

1,746 2 Global Real estate, construction, business, financial 20,000 general contractor, builder, information and news contractor, construction manager 21,790 Diversified global information, 17,000 8 services Third-party andlogistics media company company n/d 34,000

Global building materials Professional employer organization

Construction management and general contracting Hispanic-American media

22,081 3 Sports association intended to manage and organize tournaments. Apparel stores 9,000 2 basketball

500

Bill Koenigsberg, Founder, president, chief executive Robin Klehr Avia,Executive Joseph Brancato, Vincent O'Toole, vice president, chief operating and Rocco Giannetti financial officer Regional managing principals CarlosCatsimatidis Martinez, Joseph Lauro, Amanda Carroll John Managing directors, office Chairman, president,NY chief executive

$8,700.0 5 $1,786.1 -8.4% +30.4%

n/d n/d

$7,100.0 2 +6.0%

n/d

Blaise Sarcone, President, chief financial officer John Farber, Founder Tom Bené, President, chief executive Danny Wirtz, Charles Merinoff Co-chairmen Tory Burch Founder, executive chairman, chief creative officer Edward Weiner Pierre Yves-Roussel President, chief executive Chief executive

$1,750.0 -16.7% $6,400.0 2 +14.3%

$1,200.0

1,600

$1,750.0 2 +16.7% $6,400.0 +52.4%

n/d

Retail, energy and real estate, media

Finance automation platform

2,300 5 Media and marketing services n/d n/d

Retail, energy and real estate, media

Chemicals, plastics, additives, compounds, colors, paint, 7,000 2 Wine and spirits distribution resins and dietary supplements Women's clothing designer and retailer Commodity merchandizing, distribution and transportation

Gellert Global Group AmTrust Financial 1 Atalanta Plaza Services 59 Maiden Elizabeth, NJLane 07206 New York, NY

908-351-8000 877-528-7878 gellertglobalgroup.com amtrustfinancial.com

George Gellert, Chairman, chief executive Barry Zyskind Andrew Gellert, President President, chief executive

$1,730.0 27 $5,100.0 +22.7% +10.9%

n/d n/d

J.T. Magen & Co. Inc. Renco Group 44 W. 28th St.Inc. 1New Rockefeller Plaza York, NY 10001 New York, NY 10020

212-790-4200 212-541-6000 jtmagen.com rencogroup.net

Maurice Regan Ira Rennert President Founder, chairman, chief executive

$1,530.3 2 $5,000.0 +2.5% 0.0%

$1,637.5 n/d

465 Construction management and 15,000 2 Military automotive general vehicles, contracting interiors, pallet racks, magnesium and refined metals

HNTB New York Engineering Imperial Bag & Paper Co. and Architecture 255 U.S. 350 Fifth Route Ave. 1 and Route 9 Jersey City,NYNJ10118 07306 New York,

212-594-9717 201-437-7440 hntb.com imperialdade.com

Phillip Brake, Kevin Collins Robert Tillis,presidents Chairman Senior vice Jason Tillis, President, chief executive

$1,520.2 $4,572.2 +5.1% +61.8%

n/d $5,400.0

n/d 7,200

Infrastructure firm Wholesale food service and Industrial packaging and janitorial supplies

Suffolk Fedway Associates Inc. and 50 Rockefeller Plaza Affiliates New York, Ave. NY 10020 20 North East Elizabeth, NJ 07201

646-952-8000 973-624-6444 suffolk.com fedway.com

$4,560.5 $1,445.9 +13.3% +2.3%

$5,200.0 $1,475.0

1,746 1,050

Real estate, construction, Importing and distributing general contractor, builder, wines and spirits, logistics, contractor, trucking andconstruction real estate manager development

NFI 2Allied Cooper St. Beverage Group Camden, NJ 08102 700 Kapowski Road Elizabeth, NJ 07201 PrestigePEO 538 Broadhollow Ziff Davis Inc. Road Melville, 11747 114 FifthNY Ave. New York, NY 10011

877-634-3777 nfiindustries.com 800-2721323 alliedbeverage.com

Thomas manager Richard Giordano, Leventhal, General Chairman, chief executive Ralph RobertEsposito Sansone, Group President President, Northeast andofMid-Atlantic regions Max Leventhal, Director business development John Devin, President, Fedway Associates Ralph Ippolito, President, Inter Metro Ike Brown, Jeffrey Brown Vice chairs Jeffrey Altschuler, Executive chair Sidney Brown, Jonathan YusenChief executive President, chief executive Andrew Lubash Founder, chief executive Jason Young Robyn Rusignuolo Chief executive Chief operating officer

$3,900.0 7 +25.0% $1,400.0 0.0%

n/d $1,400.0

17,000 8 Third-party logistics company 1,000 Wholesale distribution of wines, spirits and other beverages

$3,661.4 +22.5% $1,391.0 -1.8%

$4,000.0 n/d

34,000 n/d

J.M. Huber Corp. Manhattan Beer Distributors 499 955 Thornall E. 149thSt. St. Edison, NJ10455 08837 Bronx, NY

732-603-3643 718-292-9300 huber.com manhattanbeer.com

Gretchen McClain Simon Bergson President, President, chief chief executive executive

$3,350.0 8 $1,319.0 0.0% +11.8%

n/d $1,400.0

materials 4,900 8 Ingredients 1,650 Beer, wine, and spirits, and manufacturer beverage distribution

Univision Justworks Communications Inc. 55 Water St. 605 Third Ave. New York, NY 10041 New York, NY 10158

corporate.univision.com 888-534-1711 justworks.com

Wade Davis Michael Seckler Chief Chief executive executive

9 $2,570.0 $1,274.0 3 +2.8% +29.7%

n/d n/d

n/d 3 Hispanic-American media Employee benefits platform 1,306

TransPerfect J. Crew 1250 Broadway 225 Liberty St. New York, NY 10001 New York, NY 10281

212-689-5555 jcrew.com transperfect.com

Phil Shawe Adam Brotman President, chief executive Chief executive

$1,160.0 10 $2,300.0 2 +5.5% +9.5%

n/d n/d

n/d Global language and translation 9,000 2 Apparel stores services

Russell Reynolds Associates Sigma Plastics Group 277 Park Ave. Page and Schuyler Ave. New York, NY 10172 Lyndhurst, NJ 07071

212-351-2000 954-429-6100 russellreynolds.com sigmaplasticsgroup.com

Pascal Becotte Mark Teo, President, chief executive Managing director, hub leader Andrew Teo, Chief financial officer

$1,039.0 $2,250.0 +0.1% -10.0%

n/d n/d

n/d 5,000

Global leadership advisory and Flexible packaging executive search firm

Pride Global Goya Foods Inc. 420 Lexington Ave.

212-235-5300 201-348-4900 prideglobal.com

Leo Russell Robert Unanue Founder, chief executive

$997.7 $2,000.0 +144.7%

n/d $2,000.0

242 500

Labor vendor management, Food manufacturing, packaging payroll services and staffing

P012_P020_CN_20231127.indd 13

516-692-8505 prestigepeo.com 212-503-3500 ziffdavis.com

n/d Imported food products 6,036 2 Property and casualty insurance company

Professional employer organization Integrated media company

NOVEMBER 27, 2023 | CRAIN’S NEW YORK BUSINESS | 13

11/21/23 2:47 PM

17 18 THE LIST 19 LARGEST PRIVATELY HELD COMPANIES 20 21 1 22 2 23 3 24 4 25 5 25 6 27 6 28 8 29 9 30 10 31 11 32 11 33 13 34 14 35 15 36 16 37 Drug 17 price clarity 38 18 #47 39 19 40 20 41 21 42 22 43 23 RANK

NFI 2 Cooper St. Camden, NJ 08102

877-634-3777 nfiindustries.com

Ike Brown, Jeffrey Brown Vice chairs Sidney Brown, Chief executive

$3,900.0 7 +25.0%

PrestigePEO 538 Broadhollow Road Melville, NY 11747

516-692-8505 prestigepeo.com

Andrew Lubash Founder, chief executive Robyn Rusignuolo Chief operating officer

$3,661.4 +22.5%

J.M. Huber Corp. 499 Thornall St. Edison, NJ 08837

732-603-3643 huber.com

Gretchen McClain President, chief executive

$3,350.0 8 0.0%

n/d

Univision Communications Inc. 605 Third Ave. New York, NY 10158

corporate.univision.com

Wade Davis Chief executive

$2,570.0 9 +2.8%

n/d

J. Crew 225 Liberty St. COMPANY New York, NY 10281

jcrew.com

Adam Brotman Chief executive

2022 REVENUE (IN 2 $2,300.0 MILLIONS) +9.5% % CHANGE VS. 2021

Bloomberg LP Group Sigma Plastics 731 Lexington Ave.Ave. Page and Schuyler New York, NY Lyndhurst, NJ 10022 07071

212-318-2000 954-429-6100 bloomberg.com sigmaplasticsgroup.com

Mike Bloomberg Mark Teo, President, chief executive Chief executive Andrew Teo, Chief financial officer

$12,200.0 $2,250.0 2 +10.9% -10.0%

HearstFoods Inc. Goya 300 County W. 57thRoad St. 350 New York, Jersey City,NYNJ10019 07307

212-649-2000 201-348-4900 hearst.com goya.com

Steven Unanue Swartz, President, chief executive Robert William Hearst Chairman President, chiefIII, executive Frank Bennack Jr., Executive vice chairman, former chief executive

$11,800.0 $2,000.0 -0.8% 0.0%

n/d $2,000.0

21,790 500

Standard Industries Gensler 9 W. 57th St. 1700 Broadway New York, NY 10019

212-821-1600 212-492-1400 standardindustries.com gensler.com

$11,000.0 $1,786.1 +10.0% +30.4%

n/d

Major League Baseball 1271 Sixth Ave. ICC Inc. New Industries York, NY 10020 725 Fifth Ave. New York, NY 10022 STO Building Group 4 330 W. 34th St. Tory New Burch York, NY 10001 11 W. 19th St. New York,Basketball NY 10011 National Association 645 Fifth Ave. Gellert Global Group New York, NY 10022 1 Atalanta Plaza Elizabeth, NJ 07206 Ramp 71 Fifth Ave. J.T. & Co. Inc. NewMagen York City, NY 10003 44 W. 28th St. New York,National NY 10001 Central Gottesman Inc. HNTB New York Engineering 3 Manhattanville Road and Architecture Purchase, NY 10577 350 Fifth Ave. Horizon Inc. New York,Media NY 10118 75 Varick St. Fedway Associates New York, NY 10013Inc. and Affiliates 20 EastInc. RedNorth AppleAve. Group Elizabeth, 800 Third NJ Ave.07201 New York, NY 10022

646-495-4091 mlb.com 212-521-1700 iccchem.com 212-481-6100 stobuildinggroup.com 212-683-2323 toryburch.com 212-407-8000 nba.com

David Millstone Robin Klehr Avia, Joseph Brancato, David Winter Rocco Giannetti Co-chief executives Regional managing principals Carlos Martinez, Joseph Lauro, Amanda Carroll Rob Manfred Managing directors, NY office Commissioner of baseball Blaise Sarcone, President, chief financial officer John Farber, Founder James Donaghy, Executive chairman Robert Mullen, Chief executive Tory Burch Founder, executive chairman, chief creative officer Pierre Yves-Roussel Adam Silver Chief executive Commissioner

$10,800.0 2 n/d $1,750.0 -16.7% $10,390.0 +9.3% $1,750.0 2 +16.7% $10,000.0 3 n/d

n/d

908-351-8000 gellertglobalgroup.com 805-223-3307 ramp.com 212-790-4200 jtmagen.com 914-696-9000 cng-inc.com 212-594-9717 hntb.com

George Gellert, Chairman, chief executive Andrew Gellert, President Eric Glyman Chief executive Maurice Regan President Andrew Wallach President, chief executive Phillip Brake, Kevin Collins Senior vice presidents

$1,730.0 7 +22.7% $10,000.0 3 n/d $1,530.3 +2.5% $9,300.0 +31.0% $1,520.2 +5.1%

212-220-5000 horizonmedia.com 973-624-6444 fedway.com 212-956-5803 ragny.com

Bill Koenigsberg, Founder, president, chief executive Vincent O'Toole, Executive vice president, chief operating and Richard financialLeventhal, officer Chairman, chief executive Robert Sansone, Group President Max Director of business development JohnLeventhal, Catsimatidis John Devin,president, President,chief Fedway Associates Chairman, executive Ralph Ippolito, President, Inter Metro

$8,700.0 5 -8.4% $1,445.9 +2.3% $7,100.0 2 +6.0%

Allied Beverage Group Breakthru Beverage Group 6 700 Kapowski Road 60 E. 42nd St. Elizabeth, New York, NJ NY 07201 10165

800-2721323 212-699-7000 alliedbeverage.com breakthrubev.com

Jeffrey Altschuler, Executive chair Tom Bené, President, chief executive Jonathan Yusen Danny Wirtz, Charles Merinoff President, chief executive Co-chairmen

$1,400.0 $6,400.0 2 0.0% +14.3%

Ziff DavisInc. Inc. Trammo 114 8 W. Fifth 40thAve. St. New New York, York, NY NY 10011 10018

212-503-3500 212-223-3200 ziffdavis.com trammo.com

Jason EdwardYoung Weiner Chief executive President, chief executive

$1,391.0 $6,400.0 -1.8% +52.4%

Manhattan Beer Distributors AmTrust Financial Services 955 E. 149th St. 59 Maiden Lane Bronx, NY 10455 New York, NY

718-292-9300 877-528-7878 manhattanbeer.com amtrustfinancial.com

Simon Bergson Barry Zyskind President, President, chief chief executive executive

$1,319.0 $5,100.0 2 +11.8% +10.9%

$1,400.0 n/d

Justworks Renco Group Inc. 55 Water St. Plaza 1 Rockefeller New New York, York, NY NY 10041 10020

888-534-1711 212-541-6000 justworks.com rencogroup.net

Michael Seckler Ira Rennert Chief executive Founder, chairman, chief executive

3 $1,274.0 $5,000.0 2 +29.7% 0.0%

n/d n/d

TransPerfect Imperial Bag & Paper Co. 1250 Broadway 255 U.S. Route 1 and Route 9 New JerseyYork, City,NYNJ10001 07306

212-689-5555 201-437-7440 transperfect.com imperialdade.com

Phil Shawe Robert Tillis, Chairman President, executive Jason Tillis,chief President, chief executive

$1,160.0 10 $4,572.2 +5.5% +61.8%

n/d $5,400.0

Russell Suffolk Reynolds Associates 277 Park Ave. Plaza 50 Rockefeller New New York, York, NY NY 10172 10020

212-351-2000 646-952-8000 russellreynolds.com suffolk.com

PHONE/ WEBSITE

TOP EXECUTIVE(S)

Pascal ThomasBecotte Giordano, General manager Managing director, hub leader Ralph Esposito

$4,000.0

n/d 2023 PROJECTED REVENUE (IN MILLIONS) n/d

$1,200.0 $11,096.0 n/d n/d n/d

17,000 8 Third-party logistics company

34,000

Professional employer organization

4,900 8 Ingredients and materials manufacturer n/d

Hispanic-American media

2 20239,000 TOTAL Apparel stores COMPANY EMPLOYEES 1 NATURE OF BUSINESS

Global business, 20,000 5,000 2 Flexible packagingfinancial information and news Diversified global information, Food manufacturing, packaging services and media company and distribution Global building materials n/d

26,906 3 Sports media 1,600

Chemicals, plastics, additives, compounds, colors, paint, and dietary supplements 4,350 resins Construction management and general contracting n/d Women's clothing designer and retailer 22,081 3 Sports association intended to manage and organize basketball tournaments. n/d Imported food products n/d

Finance automation platform

$1,637.5

465

n/d

4,300

n/d

Construction management and general contracting Sales and distribution of pulp, paper, tissue, packaging and Infrastructure other productsfirm

n/d

2,300 5 Media and marketing services

$1,475.0

1,050

n/d

$1,400.0 n/d

n/d n/d

Importing and distributing wines and spirits, logistics, trucking and real Retail, energy andestate real estate, development media

1,000 distribution of wines, 7,000 2 Wholesale Wine and spirits distribution spirits and other beverages n/d n/d

Integrated company Commoditymedia merchandizing, distribution and transportation

1,650 wine, and Property andspirits, casualty 6,036 2 Beer, beverage distribution insurance company benefitsautomotive platform 1,306 32 Employee 15,000 Military vehicles, interiors, pallet racks, magnesium and refined metals n/d 7,200

Global language and translation Wholesale food service and services Industrial packaging and janitorial supplies

$1,039.0 $4,560.5 +0.1% +13.3%

n/d $5,200.0

$997.7 +144.7% $3,900.0 7 +25.0%

Top industries

n/d n/d

n/d 1,746

Global leadership advisory and Real estate, construction, executive search firm general contractor, builder,

contractor, construction manager 242 Labor vendor management, services and company staffing 17,000 8 payroll Third-party logistics

$986.8 7 n/d n/d Maritime construction, dredging +14.0% and tunnelingemployer services ABOUT 26%$3,661.4 of the companies on the list are34,000 in the construction, architecture $4,000.0 Professional and engineering sector, a slight uptick from last year. +22.5% organization $980.0 n/d Construction,+30.7% architecture and engineering $3,350.0 8 n/d 0.0%

Business services

$874.8 11

+8.0% 9 $2,570.0 Food and beverage

15 n/d n/d

Number of firms on the list per industry General contracting and construction management Ingredients and materials 4,900 8 services manufacturer

450

n/d n/d

Manufacturing and sales of dry and bakery goods media Hispanic-American

n/d

Wholesale food distribution

+2.8%

11 11 Arts, entertainment and recreation $824.7 n/d +4.9% 7 $2,300.0 2 n/d Tech and telecom +9.5% 7 11 $824.7 n/d +10.0% $2,250.0 -10.0% $788.0 7 +15.9% $2,000.0 0.0% $726.6

9,000 2 Apparel stores n/d

n/d

5,000

n/d

$2,000.0

500

$915.0

265

3 3 3 3 3 13 23 3 44 54 64 64 84 94 14 14 14 14 15 15 15 51 5 1 5 15 25 25 25 26

RAN

n/d

President, Northeast and Mid-Atlantic regions

Pride Global 212-235-5300 Leo Russell 420 prideglobal.com Founder, executive NFI Lexington Ave. 877-634-3777 Ike Brown,chief Jeffrey Brown New York, St. NY 10170 2 Cooper nfiindustries.com Vice chairs Camden, NJ 08102 Sidney Brown, Chief executive COMPANY Weeks Marine Inc. 908-272-4010 Richard Weeks SPOTLIGHT 4PrestigePEO Commerce CAPITAL Drive weeksmarine.com President RX, a health tech company based inLubash the Fi516-692-8505 Andrew Cranford, NJ 07016 nancial saw a 123% jump in revenue from 538 Broadhollow Road District,prestigepeo.com Founder, chief executive Capital Rx Melville, NY 11747 Rusignuolo 2021-2022, one of the steepest climbs Robyn on this year’s JRM Construction 212-545-0500 G. McWilliams, Chief operating officerChief executive list. The pharmacy benefit managementDavid platform efManagement jrmcm.com Joseph Romano, President fectively functions as an intermediary between insurJ.M. W. Huber 732-603-3643 Gretchen McClain Chief operating officer 242 36thCorp. St. David McWilliams, ance providers and pharmaceutical companies and 499 Thornall huber.com President, chief executive New York, NY St. 10018 aims to increase the visibility of drug prices for paEdison, NJ 08837 The company “killed it last year,” Sugar Foods tients Corp. and providers. 212-753-6900 Marty Wilson 950 Third Ave. sugarfoods.com executive according to Justin Venneri, director of Chief communicaUnivision corporate.univision.com Wade Davis New York, NY tions 10022 at Capital Rx, noting that membership growth Communications Inc. Chief executive 605 Third Ave. has grown substantially, fueling the uptick in reveInc.The increase 914-694-6400 Krasne New York, Foods NY nue. 10158 in demand stemmed Charles from the abilJustin VenneriKrasdale 65 W. Red Oak krasdalefoods.com Chief executive ityLane to expand into servicing Medicaid and Medicare J. CrewPlains, NY 10604 jcrew.com Adam Brotman White members as well as commercial members, and helped the platform grow 225 Liberty St. Chief executive to about 2.4Noom million he said. New York, NYmembers, 10281 noom.com Geoff Cook — Amanda 450 W. 33rd St. Chief Glodowski executive Sigma Plastics Group 954-429-6100 Mark Teo, President, chief executive New York, NY 10001 14 | CRAIN’S NEW YORK BUSINESS | November 27, 2023 Page and Schuyler Ave. sigmaplasticsgroup.com Andrew Teo, Chief financial officer 12 NJ 07071 Lyndhurst, 732-574-3600 Luis Vallis, Jayne Millard Turtle 100 Walnut Ave. turtle.com Chief executives Goya Foods Inc. 201-348-4900 Robert Unanue Clark, NJ 07066 350 County14Road goya.com President, chief executive P012_P020_CN_20231127.indd Jersey City, Torcon Inc. NJ 07307 732-704-9800 Benedict Torcivia Jr. X.COM

n/d

Digital health platform focused Source: Crain’s analysis on behavior change Flexible packaging Electrical and industrial distribution Food manufacturing, packaging and distribution 11/21/23 3:11 PM Construction management and

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32 33 34 35 36 137 238 339 440 541 642 643 844 945 46 10 47 11 48 11 49 13 50 14 50 15 52 16 53 17 54 18 55 19 55 20 57 21 58 22 59 23 60 RANK

Ziff Davis Inc. 114 Fifth Ave. New York, NY 10011

212-503-3500 ziffdavis.com

Jason Young Chief executive

$1,391.0 -1.8%

n/d

Manhattan Beer Distributors 955 E. 149th St. Bronx, NY 10455

718-292-9300 manhattanbeer.com

Simon Bergson President, chief executive

$1,319.0 +11.8%

$1,400.0

1,650

Justworks 55 Water St. New York, NY 10041

888-534-1711 justworks.com

Michael Seckler Chief executive

$1,274.0 3 +29.7%

n/d

TransPerfect 1250 Broadway New York, NY 10001

212-689-5555 transperfect.com

Phil Shawe President, chief executive

$1,160.0 10 +5.5%

n/d

Russell Reynolds Associates 277 Park Ave. New York, NY 10172 COMPANY

212-351-2000 russellreynolds.com PHONE/

Pascal Becotte Managing director, hub leader

WEBSITE

TOP EXECUTIVE(S)

Pride GlobalLP Bloomberg 420 Lexington Ave. 731 10170 New York, NY 10022

212-235-5300 212-318-2000 prideglobal.com bloomberg.com

Leo Russell Mike Bloomberg Founder, chief executive Chief executive

$997.7 2 $12,200.0 +144.7% +10.9%

n/d

242 2 Global Labor vendor management, business, financial 20,000 payroll services information and and newsstaffing

Weeks Marine Inc. Hearst 4 Commerce Drive 300 W. 57th St. Cranford, New York, NJ NY 07016 10019

908-272-4010 212-649-2000 weeksmarine.com hearst.com

RichardSwartz, Weeks President, chief executive Steven President William Hearst III, Chairman Frank Bennack Jr., Executive vice chairman, former chief executive

$986.8 7 $11,800.0 +14.0% -0.8%

n/d

n/d 21,790

JRM Construction Standard Industries 9Management W. 57th St. 242 W. 36th New York, NY St. 10019 New York, NY 10018 Major League Baseball Sugar Sixth FoodsAve. Corp. 1271 950 Third Ave.10020 New York, NY New York, NY 10022 STO Building Group 4 Krasdale Foods 330 W. 34th St. Inc. 65 W.York, RedNY Oak Lane New 10001 White Plains, NY 10604 National Basketball Noom Association 450 Fifth W. 33rd 645 Ave.St. New York, York, NY NY 10022 10001 New

212-545-0500 212-821-1600 jrmcm.com standardindustries.com

G. McWilliams, Chief executive David Millstone JosephWinter Romano, President David David McWilliams, Co-chief executivesChief operating officer

$980.0 $11,000.0 +30.7% +10.0%

n/d

450 n/d

646-495-4091 212-753-6900 mlb.com sugarfoods.com

Rob Manfred Marty Wilson of baseball Commissioner Chief executive

$10,800.0 2 11 $874.8 n/d +8.0%

n/d n/d

212-481-6100 914-694-6400 stobuildinggroup.com krasdalefoods.com

James Donaghy, Executive chairman CharlesMullen, Krasne Chief executive Robert Chief executive

$10,390.0 11 $824.7 +9.3% +4.9%

$11,096.0 n/d

212-407-8000 noom.com nba.com

Adam Silver Geoff Cook Commissioner Chief executive

$10,000.0 3 11 $824.7 n/d +10.0%

n/d n/d

Turtle 12 Ramp 100Fifth Walnut 71 Ave.Ave. Clark,York NJ 07066 New City, NY 10003

732-574-3600 805-223-3307 turtle.com ramp.com

Luis Glyman Vallis, Jayne Millard Eric executives Chief executive

$788.0 37 $10,000.0 +15.9% n/d

n/d

Electricalautomation and industrial Finance platform distribution

Torcon Inc. Central National 328 Newman Springs Road Gottesman Inc. Bank, NJ 07701 3Red Manhattanville Road Purchase, NY 10577 Kobalt Horizon MediaSt.Inc. 2 Gansevoort 75 NewVarick York, St. NY 10014 New York, NY 10013 STV Red Group Inc. 225 Apple Park Ave. South 800 Ave.10003 New Third York, NY New York, NY 10022 Capital Rx 6 Breakthru Beverage 1 World Trade Center Group 60 42ndNYSt.10007 NewE.York, New York, NY 10165 E-J Electric Installation Co. Trammo Inc. Blvd. 46-41 Vernon 8Long W. 40th IslandSt.City, NY 11101 New York, NY 10018 New York Yankees AmTrust Financial Services 1 E. 161st St. 59 Maiden Lane Bronx, NY 10451 New York, NY FreshDirect Renco Group Inc. 2 St. Ann's Ave. 1Bronx, Rockefeller Plaza NY 10454 New York, NY 10020 Trump Organization Imperial 725 FifthBag Ave.& Paper Co. 255 1 and Route 9 New U.S. York,Route NY 10022 Jersey City, NJ 07306 PIM Brands Inc. Suffolk 225 Brae Blvd. 50 Plaza ParkRockefeller Ridge, NJ 07656 New York, NY 10020 New York Giants 1925 Giants Drive NFI East Rutherford, NJ 07073 2 Cooper St. Camden, NJ 08102Inc. Alliance Shippers

732-704-9800 914-696-9000 torcon.com cng-inc.com

BenedictWallach Torcivia Jr. Andrew Joseph Torcivia President, chief executive Presidents

$726.6 $9,300.0 +64.5% +31.0%

$915.0 n/d

265 4,300

Construction management and Sales and distribution of pulp, generaltissue, contracting paper, packaging and other products

212-247-6204 212-220-5000 kobaltmusic.com horizonmedia.com

Laurent Hubert Bill Koenigsberg, Chief executive Founder, president, chief executive Vincent O'Toole, Executive vice president, chief operating and financial officer Greg Kelly John Catsimatidis President, chief executive Chairman, president, chief executive

$699.3 3 5 $8,700.0 +36.0% -8.4%

n/d n/d

$696.0 2 $7,100.0 +10.3% +6.0%

n/d n/d

$682.9 2 $6,400.0 +123.0% +14.3%

n/d n/d

474 Pharmacy benefit manager and 7,000 2 Wine and spirits pharmacy benefitdistribution administrator

718-786-9400 212-223-3200 ej1899.com trammo.com

AJ Loiacono, Co-founder, chief executive Tom RyanBené, Kelly, President, Co-founder,chief chiefexecutive technology officer Danny Wirtz, Charles Merinoff Joe Alexander, Co-founder, chief operating officer Co-chairmen Anthony Mann Edward Weiner President, chief executive President, chief executive

$659.0 $6,400.0 +2.8% +52.4%

n/d n/d

1,691 n/d

646-977-8400 877-528-7878 yankees.com amtrustfinancial.com

Hal Steinbrenner, Managing general partner, co-chairperson Barry RandyZyskind Levine President, President chief executive

$657.0 2 2 $5,100.0 +36.3% +10.9%

n/d n/d

n/d Professional baseball team 6,036 2 Property and casualty insurance company

866-283-7374 212-541-6000 freshdirect.com rencogroup.net

David McInerney Ira Rennert Chief executive Founder, chairman, chief executive

$650.0 13 2 $5,000.0 +8.3% 0.0%

n/d n/d

212-832-2000 201-437-7440 trump.com imperialdade.com

Donald Trump Jr. Robert Tillis, Chairman Eric Trump Jason Tillis,vice President, chief executive Executive presidents

$650.0 11 $4,572.2 +11.1% +61.8%

n/d $5,400.0

800-369-7391 646-952-8000 pimbrands.com suffolk.com

Michael Rosenberg Thomas Giordano, General manager President, chief executive Ralph Esposito President, Northeast and Mid-Atlantic regions John Mara, President, chief executive Steve Tisch, Chairman, executive vice president Ike Brown, Jeffrey Brown Vice chairs Sidney Steven Brown, Golich Chief executive

$647.0 11 $4,560.5 +5.0% +13.3%

n/d $5,200.0

$639.0 2 +9.4% $3,900.0 7 +25.0%

n/d

3,200 3 Online grocery delivery 15,000 2 Military vehicles, automotive interiors, pallet racks, magnesium and refined metals n/d Real estate development, 7,200 Wholesale food service and hotels, casinos, golf courses Industrial packaging and and entertainment janitorial supplies n/d Manufacturer of fruit snacks, 1,746 Real estate, and construction, confections related general productscontractor, builder, contractor, construction n/d manager Professional football team

n/d

17,000 8 Third-party logistics company

516 Sylvan Ave. PrestigePEO Englewood Cliffs, NJ 07632 538 Broadhollow Road Melville, Alcott HRNY 11747 71 Executive Blvd. Farmingdale, NY 11735 J.M. Huber Corp. 499 Thornall St. Vice Media Inc. Edison, NJ 08837 49 S. Second St. Brooklyn, NY 11211 Univision Communications Inc. Warby Parker Inc. 605 Third Ave. 233 Spring St. New York, NY 10158 New York, NY 10013

212-777-4400 212-956-5803 stvinc.com ragny.com 888-617-6521 212-699-7000 cap-rx.com breakthrubev.com

201-935-8111 giants.com 877-634-3777 nfiindustries.com 201-227-0400 alliance.com 516-692-8505 prestigepeo.com 631-420-0100 alcotthr.com

President, chief executive Andrew Lubash Founder, chief executive Robyn Steven Rusignuolo Politis Chief Chief operating executive officer

2022 REVENUE (IN $1,039.0 MILLIONS) +0.1% % CHANGE VS. 2021

$615.6 11 +8.0% $3,661.4 +22.5%

n/d 2023 PROJECTED REVENUE (IN MILLIONS)

Integrated media company

Beer, wine, spirits, and beverage distribution

1,306 3 Employee benefits platform

n/d

Global language and translation services

n/d Global leadership advisory and 2023 TOTAL COMPANY executive search firm EMPLOYEES 1 NATURE OF BUSINESS

Maritime construction, dredging Diversified global information, and tunneling services services and media company Generalbuilding contracting and Global materials construction management services

26,906 3 Sports media n/d Manufacturing and sales of dry and bakery goods 4,350 n/d

Construction management and Wholesale food distribution general contracting

22,081 3 Sports association intended to n/d manage Digital health platform focused and organize on behaviortournaments. change basketball

n/d Music services company 2,300 5 Media and marketing services

n/d n/d

n/d

$4,000.0

34,000

$600.0 +20.0%

$700.0

Multidisciplinary engineering, Retail, energy planning, and real estate, architectural, program media and construction management

Electrical contracting Commodity merchandizing, distribution and transportation

Transportation and logistics Professional employer organization Human resources outsourcing

732-603-3643 huber.com vice.com

Gretchen McClain President, chief executive Shane Smith, Executive chairman Nancy Dubuc, Chief executive

$3,350.0 8 0.0% $600.0 14 -11.8%

n/d

corporate.univision.com

$2,570.0 9 +2.8% $598.1 +10.6%

n/d

Hispanic-American media

646-517-5223 warbyparker.com

Wade Davis Chief executive David Gilboa Co-founders, co-chief executives Neil Blumenthal

n/d

Designer eyewear e-commerce

J. Crew VistaLiberty Food Exchange Inc. 225 St. 355 Food Center Drive New York, NY 10281 Bronx, NY 10474

jcrew.com 718-542-4401 vistafood.com

Adam Brotman Vincent Pacifico Chief executive Founder, chairman, chief executive

$2,300.0 215 $575.0 +9.5% +57.5%

n/d n/d

Sigma Plastics Group Synechron Inc. Ave. Page and Schuyler 11 Times Square Lyndhurst, NJ 07071 New York, NY 10036

954-429-6100 212-619-5200 sigmaplasticsgroup.com synechron.com

Mark Teo, President, chief executive Faisal Husain Andrew Teo, Chief financial officer Co-founder, chief executive

$2,250.0 16 $570.9 -10.0% -28.6%

n/d 5,000 17Flexible packaging 27, 2023Technology | CRAIN’S NEW YORK BUSINESS consultancy for the| 15 n/d November 13,000 financial services industry

Goya Foods Inc.

201-348-4900 914-725-3500 goya.com currycars.com

Robert Unanue Bernard Curry President, chiefIIIexecutive Owner, chief executive

$2,000.0 $569.0 0.0% -19.2%

CurryCounty Automotive 350 Road P012_P020_CN_20231127.indd 15

727 Central Jersey City, NJAve. 07307 Scarsdale, NY 10583

n/d

$2,000.0 $600.0

4,900 8 Ingredients and materials manufacturer n/d Digital media and broadcasting

9,000 2 Apparel stores n/d Wholesale meat distribution, exporting and processing

500 567

Food manufacturing, packaging Autodistribution dealerships and 11/21/23 2:48 PM

54 55 THE LIST 55 LARGEST PRIVATELY HELD COMPANIES 57 58 59 1 60 2 61 3 62 4 63 5 64 6 65 6 66 8 67 9 68 10 69 11 70 11 71 13 72 14 73 15 74 16 75 Notable absences 17 76 18 77 19 78 #6 20 79 21 80 22 81 23 82 RANK

Alliance Shippers Inc. 516 Sylvan Ave. Englewood Cliffs, NJ 07632

201-227-0400 alliance.com

Steven Golich President, chief executive

$615.6 11 +8.0%

Alcott HR 71 Executive Blvd. Farmingdale, NY 11735

631-420-0100 alcotthr.com

Steven Politis Chief executive

$600.0 +20.0%

Vice Media Inc. 49 S. Second St. Brooklyn, NY 11211

vice.com

Shane Smith, Executive chairman Nancy Dubuc, Chief executive

Warby Parker Inc. 233 Spring St. New York, NY 10013

646-517-5223 warbyparker.com

David Gilboa Co-founders, co-chief executives Neil Blumenthal

Vista Food Exchange Inc. 355 Food Center Drive Bronx, NY 10474 COMPANY

718-542-4401 vistafood.com PHONE/

Vincent Pacifico Founder, chairman, chief executive

WEBSITE

TOP EXECUTIVE(S)

Synechron Bloomberg Inc. LP 11 Square 731Times Lexington Ave. New York, NY 10036 10022

212-619-5200 212-318-2000 synechron.com bloomberg.com

Faisal Husain Mike Bloomberg Co-founder, chief executive Chief executive

$570.9 216 $12,200.0 -28.6% +10.9%

Curry HearstAutomotive 727 300 Central W. 57thAve. St. Scarsdale, NY10019 10583 New York, NY

914-725-3500 212-649-2000 currycars.com hearst.com

Bernard Curry IIIPresident, chief executive Steven Swartz, Owner, executive William chief Hearst III, Chairman Frank Bennack Jr., Executive vice chairman, former chief executive

$569.0 $11,800.0 -19.2% -0.8%

$600.0 n/d

567 21,790

Empire Office Inc. Standard Industries 654 9 W. Madison 57th St. Ave. New York, NY 10065 10019

212-607-5500 212-821-1600 empireoffice.com standardindustries.com

Peter David Gaslow Millstone President, chief executive David Winter Co-chief executives

$565.0 $11,000.0 +18.9% +10.0%

$585.0 n/d

495 n/d

New Jets Baseball MajorYork League 1 Jets Sixth Drive Ave. 1271 Florham NJ 07932 New York,Park, NY 10020

973-549-4800 646-495-4091 newyorkjets.com mlb.com

Christopher Rob ManfredJohnson, Vice chairman Robert Johnson, Commissioner of Chairman baseball

$560.0 2 $10,800.0 +7.9% n/d

n/d

Harry's STO Building Group 4 75 St. St. 330Varick W. 34th New York, NY 10013 10001

888-212-6855 212-481-6100 harrys.com stobuildinggroup.com

Jeffrey Raider Executive chairman James Donaghy, Andy RobertKatz-Mayfield Mullen, Chief executive Co-founder, co-chief executives

$547.0 3 $10,390.0 +56.3% +9.3%

n/d $11,096.0

Atrium National Basketball 387 Park Ave. South Association New York, Ave. NY 10016 645 Fifth New York, NY 10022 Iovino Enterprises Ramp 1 Rockefeller Plaza 71 NewFifth York,Ave. NY 10020 New York City, NY 10003 The LiRo Group Central 3 Aerial National Way Gottesman Syosset, NY Inc. 11703 3 Manhattanville Road Purchase, NY 10577 SeatGeek 902 Broadway Horizon Inc. New York,Media NY 10010 75 Varick St. New York,Civil NY 10013 Posillico Inc.

212-292-0550 212-407-8000 atriumglobal.com nba.com

Rebecca Cenni-Leventhal Adam Silver Founder, chief executive Commissioner

$521.8 3 $10,000.0 +10.7% n/d

n/d

718-571-9599 805-223-3307 iovinoent.com ramp.com

Thomas Iovino Eric Glyman Founder, chief executive Chief executive

$510.0 $10,000.0 +2.0% 3 n/d

n/d n/d

General construction and Finance automation specialty contractingplatform

516-938-5476 914-696-9000 liro.com cng-inc.com

Rocco Trotta, Chairman Andrew Wallach Richard Cavallaro, Chief executive President, chief executive

$502.0 $9,300.0 +15.7% +31.0%

n/d n/d

n/d 4,300

seatgeek.com

Mike Janes, Co-founder, co-chief executive and president Jack Groetzinger, Co-founder, chief executive Bill Koenigsberg, Founder, president, chief executive Vincent O'Toole, Executive vice president, chief operating and financial Joseph D.officer Posillico, III, Senior vice president

$500.0 3 +44.9% 5 $8,700.0 -8.4%

n/d

Construction management, Sales and distribution of pulp, architecture and engineering paper, tissue, packaging and services other products Mobile-focused ticket platform

n/d

2,300 5 Media and marketing services

$490.0 n/d $7,100.0 2 +6.0%

n/d

885

Heavy civil construction

n/d

Retail, energy and real estate, media

$487.8 +13.3% 2 $6,400.0 +14.3%

n/d

1750 New Highway Red Apple Group Inc. Farmingdale, NY 11735 800 Third Ave. New HOK York, NY 10022

5 Bryant Park 6 Breakthru Beverage New York, NY 10018 Group 60 E. 42nd St. New York,Enterprises NY 10165 Doherty 7 Pearl Court Trammo Inc. Allendale, NJ 07401 8 W. 40th St. New York, NY 10018 Urban Atelier Group

85 Fifth Ave. AmTrust New York,Financial NY 10003Services 59 Maiden Lane New York, NY LRC Construction LLC 7 Renaissance Square Renco Group NY Inc.10601 White Plains, 1 Rockefeller Plaza New York, NY 10020 Mindlance

1095 Morris Ave. Imperial & Paper Co. Union, NJBag 07083 255 U.S. Route 1 and Route 9 Jersey City,Nets NJ 07306 Brooklyn 168 39th St. Suffolk Brooklyn, NY 11232 50 Rockefeller Plaza New York, NY 10020 BlockFi

212-220-5000 horizonmedia.com 631-249-1872 posillicoinc.com 212-956-5803 ragny.com

212-741-1200 hok.com 212-699-7000 breakthrubev.com

MIchael J. Posillico, Principal John Catsimatidis Joseph K. Posillico, President, chief executive Chairman, president, chief executive Carl Galioto President, managing principal Tom Bené, President, chief executive Danny Wirtz, Charles Merinoff Co-chairmen Ed Doherty

WIKIPEDIA

Transportation and logistics

$700.0

Human resources outsourcing

$600.0 14 -11.8%

n/d

Digital media and broadcasting

$598.1 +10.6%

n/d

Designer eyewear e-commerce

2022 REVENUE (IN 15 $575.0 MILLIONS) +57.5% % CHANGE VS. 2021

n/d 2023 PROJECTED REVENUE (IN MILLIONS) n/d

n/d Wholesale meat distribution, 2023 TOTAL COMPANY exporting and processing EMPLOYEES 1 NATURE OF BUSINESS consultancy for the 13,000 217 Technology Global business, financial 20,000 financial services industry information and news

n/d 4,350

3,346

n/d

646-892-6280 uag.nyc 877-528-7878 amtrustfinancial.com

D. Andrew D'Amico President, chief executive Barry Zyskind President, chief executive

$436.4 +42.3% 2 $5,100.0 +10.9%

$527.1

153

914-773-7700 lrcbuild.com 212-541-6000 rencogroup.net

Louis Cappelli, Chairman, chief executive Peter Palazzo, President Ira Rennert Founder, chairman, chief executive

$432.0 -2.9% $5,000.0 2 0.0%

n/d

877-965-2623 mindlance.com 201-437-7440 imperialdade.com

Vikram Kalra Co-founder, managing director Robert Tillis, Chairman Jason Tillis, President, chief executive

$411.0 +37.0% $4,572.2 +61.8%

718-933-3000 brooklynnets.com 646-952-8000 suffolk.com

Joseph Tsai Governor Thomas Giordano, General manager Ralph Esposito President, and Mid-Atlantic regions Zac Prince,Northeast Chief executive

$405.0 2 +91.0% $4,560.5 +13.3%

Restaurant ownership and operation Commodity merchandizing, distribution and transportation

Construction management professionals 6,036 2 Property and casualty insurance company

n/d

Construction management and general contracting

15,000 2 Military vehicles, automotive

$450.0

6,000

$5,400.0

7,200

n/d

$5,200.0

1,746

$400.0 3 -15.8%

n/d

$3,900.0 7 +25.0% $396.5 -1.0%

n/d

$425.0

$3,350.0 8

n/d

interiors, pallet racks, magnesium refined metals Staffing and and consulting Wholesale food service and Industrial packaging and janitorial supplies Professional basketball team Real estate, construction, general contractor, builder, contractor, construction Crypto financial services and manager wealth management platform

17,000 8 Third-party logistics company

Revenue growth

Construction management, general contracting and consulting THREE$3,661.4 QUARTERS of the companies on the list saw their revenue grow $4,000.0 34,000 Professional employer from FY21 to FY22, up from 67% last year. organization +22.5% $395.0 n/d n/d Wines and spirits importing and 0.0% distribution

0.0% Revenue $380.0 grew +20.6%

$330.0

125

4,900 8 Ingredients and materials manufacturer 296 Temp, direct-hire and executive search with a digital, marketing and creative focus Revenue n/d 25%Hispanic-American media

$2,570.0 9 +2.8% $374.0 2 +23.8%

75% n/d

$2,300.0 211 $368.6 +9.5% +5.0%

n/d n/d

9,000 2 Apparel stores n/d Advertising software provider

Mark Teo, President, chief executive Matthew Schimenti Andrew Teo, Chief financial officer President

$2,250.0 $350.0 -10.0% +9.4%

n/d n/d

5,000 n/d

Robert Unanue Bruce Buchanan President, chief executive Chief executive

$2,000.0 15 $345.0 0.0% +51.0%

$2,000.0 n/d

500 n/d

of 2022. The digital pharmacy startup, which took off during the panJ. Crew jcrew.com Adam Brotman demic, wasMediaocean ultimately unable to secure enough money to purchase 212-633-8100 Bill 225 Liberty St. ChiefWise executive drugs to fill45 prescriptions, 80% plummet in sales. W.York, 18thNYSt.10281leading to an mediaocean.com Chief executive New New York, NY 10011 — Amanda Glodowski

201-348-4900 646-693-7411 goya.com rokt.com

Shaving equipment eConstruction management and commerce general contracting

7,000 2 Wine and spirits distribution

$479.0

Sigma Plastics Group 954-429-6100 Schimenti Construction 212-246-9100 16 | CRAIN’S NEW YORK BUSINESS | NOVEMBER Page and Schuyler Ave. Co.27, 2023 sigmaplasticsgroup.com 575 Lexington Ave. schimenti.com Lyndhurst, NJ 07071 New York, NY 10022

Contractbuilding furniture Global materials

325 3 Enterprise workforceintended & talentto 22,081 Sports association solutions manage and organize basketball tournaments.

n/d

Auto dealerships Diversified global information, services and media company

n/d 3 n/d Sports media 26,906

$461.0 +6.6% $6,400.0 +52.4%

went of 2023. Its debut went chief executive Ramp 499 Thornall St. public in August huber.com President, 212-966-4426 Anthony Donnarumma, Chief executive 24 Sevenquite Inc. 11 Edison, NJ 08837poorly, with shares of the company, once 105 Maxess Road at $7.7 billion, 24seventalent.com Celeste Gudas, Founder, board member valued falling more than 90% withMelville, NY 11747 The stock currentlyWade hovers Univisionin the first few days. corporate.univision.com Davis between which Vishal Garg, CEO of Communications Inc. 40 and 50 cents. Medly Pharmacy,Chief executive New York Mets 718-507-8499 Sandy Alderson, President 605 Thirdwas Ave. last year, with $350 million in Owner, chairman, chief executive Better.com 41 Seaver Way 84th on the listmets.com Steven Cohen, New York,revenue, NY 10158 filed for bankruptcy protection at the end Queens, NY 11368

Goya Foods Inc. Rokt 175 Varick Jersey City, St. NJ 07307 New York, NY 10014

n/d

Chairman, chief executive Edward Weiner President, chief executive

201-818-4669 dohertyinc.com 212-223-3200 trammo.com

646-779-9688 201 Montgomery St. blockfi.com Flori Marquez, Senior vice president of operations Jersey City, NJ 07302 NFI 877-634-3777 Ike Brown, Jeffrey Brown 2 Cooper St. nfiindustries.com Vice chairs Triton Construction Co. 212-388-5700 Lance Franklin NEW Camden, NJ 08102 Sidney Brown, Chief executive 550 Seventh Ave. tritonconstruction.net Frank Reich ADDITIONS New York,WHILE NY 10018 Chief MANY NEW COMPANIES theexecutives list PrestigePEO 516-692-8505are added toAndrew Lubash each year, such as newly featured National Basket-chief executive 538 Broadhollow Road prestigepeo.com Founder, Taub Family Cos. 18 516-802-4700 Marc Taub National Basketball Melville, NY 11747 Rusignuolo andpalmbay.com Ramp, which are tiedRobyn for #6, 48 Harborball Park Association Drive President, chief executive Association Chief operating officer some also drop from the list. Better.com, which has Port Washington, NY 11050 taubfamilyselections.com been a mainstay ofsaracina.com the list over the past few years, and J.M. Huber Corp. 732-603-3643 Gretchen McClain

350 County16Road P012_P020_CN_20231127.indd

n/d

shrank or stayed flat

Professional baseball team

Source: Crain’s analysis

Flexible packaging General contractor

Food manufacturing, packaging E-commerce marketing 11/21/23 3:10 PM and distribution technology

7 7 7 7 7 71 72 37 47 57 68 86 8 89 81 81 18 18 18 18 19 19 19 19 92 92 92 92

RAN

n, y

als

row

and

ve ng

e or flat

alysis

70 71 72 73 74 1 75 2 76 377 478 579 680 6 81 82 8 83 9 83 10 11 85 11 86 13 87 14 88 15 89 16 90 17 91 18 92 19 92 94 20 95 21 96 22 97 23 RANK

Doherty Enterprises 7 Pearl Court Allendale, NJ 07401

201-818-4669 dohertyinc.com

Ed Doherty Chairman, chief executive

$461.0 +6.6%

$479.0

3,346

Restaurant ownership and operation

Urban Atelier Group 85 Fifth Ave. New York, NY 10003

646-892-6280 uag.nyc

D. Andrew D'Amico President, chief executive

$436.4 +42.3%

$527.1

153

Construction management professionals

LRC Construction LLC 7 Renaissance Square White Plains, NY 10601

914-773-7700 lrcbuild.com

Louis Cappelli, Chairman, chief executive Peter Palazzo, President

$432.0 -2.9%

n/d

Construction management and general contracting

Mindlance 1095 Morris Ave. Union, NJ 07083

877-965-2623 mindlance.com

Vikram Kalra Co-founder, managing director

$411.0 +37.0%

$450.0

6,000

Brooklyn Nets 168 39th St. Brooklyn, COMPANY NY 11232

718-933-3000 brooklynnets.com PHONE/

Joseph Tsai Governor

WEBSITE

TOP EXECUTIVE(S)

Bloomberg LP BlockFi 731 Montgomery Lexington Ave.St. 201 New York, Jersey City,NYNJ10022 07302

212-318-2000 646-779-9688 bloomberg.com blockfi.com

MikePrince, Bloomberg Zac Chief executive ChiefMarquez, executiveSenior vice president of operations Flori

$12,200.0 $400.0 32 +10.9% -15.8%

HearstConstruction Co. Triton 300 Seventh W. 57th St. 550 Ave. 10019 New York, NY 10018

212-649-2000 212-388-5700 hearst.com tritonconstruction.net

StevenFranklin Swartz, President, chief executive Lance WilliamReich Hearst III, Chairman Frank Frank executives Bennack Jr., Executive vice chairman, former chief executive Chief

$11,800.0 $396.5 -0.8% -1.0%

n/d $425.0

21,790 125

Standard Industries Taub Family Cos. 18 9 W.Harbor 57th St. 48 Park Drive New Washington, York, NY 10019 Port NY 11050

212-821-1600 516-802-4700 standardindustries.com palmbay.com taubfamilyselections.com saracina.com 646-495-4091 212-966-4426 mlb.com 24seventalent.com

David Taub Millstone Marc David Winter President, chief executive Co-chief executives

$11,000.0 $395.0 +10.0% 0.0%

n/d

Rob Manfred Anthony Donnarumma, Chief executive Commissioner of baseball Celeste Gudas, Founder, board member

$10,800.0 2 $380.0 n/d +20.6%

n/d $330.0

212-481-6100 718-507-8499 stobuildinggroup.com mets.com

James Donaghy, Executive chairman Sandy President Robert Alderson, Mullen, Chief executive Steven Cohen, Owner, chairman, chief executive

$10,390.0 2 $374.0 +9.3% +23.8%

$11,096.0 n/d

212-407-8000 212-633-8100 nba.com mediaocean.com

Adam Silver Bill Wise Commissioner Chief executive

$10,000.0 3 11 $368.6 n/d +5.0%

n/d n/d

Ramp Schimenti Construction Co. 71 Fifth Ave. Ave. 575 Lexington York City, NY 10003 New York, NY 10022

805-223-3307 212-246-9100 ramp.com schimenti.com

Eric Glyman Matthew Schimenti Chief executive President

$10,000.0 $350.0 3 n/d +9.4%

n/d

Finance contractor automation platform General

Central National Rokt Gottesman Inc. 175 Varick St. 3 Manhattanville Road New York, NY 10014 Purchase, NY 10577 Saatva Horizon Media Inc.Expressway 19-02 Whitestone 75 Varick St.NY 11357 Whitestone, New York, NY 10013 Thornton Tomasetti Inc. Red Apple Group Inc. 120 Broadway 800 Third Ave.10271 New York, NY New York, NY 10022 Skidmore, Owings & Merrill 6 Breakthru Beverage 7 World Trade Center Group 60 E.York, 42ndNYSt.10007 New New York, NY 10165

914-696-9000 646-693-7411 cng-inc.com rokt.com

AndrewBuchanan Wallach Bruce President, chief executive Chief executive

$9,300.0 $345.0 15 +31.0% +51.0%

n/d

4,300 n/d

Sales and distribution E-commerce marketingof pulp, paper, tissue, packaging and technology other products

877-672-2882 212-220-5000 saatva.com horizonmedia.com

Ronald Rudzin Bill Koenigsberg, Founder, president, chief executive Founder, chief executive Vincent O'Toole, Executive vice president, chief operating and financial officer Thomas Scarangello, Executive chairman John Catsimatidis Peter DiMaggio Michael Squarzini Chairman, president, chief executive Co-chief executives

$340.0 5 $8,700.0 -15.0% -8.4%

$0.0 n/d

275 Luxury mattresses and home Media and marketing services 2,300 5 furnishings

$340.0 2 $7,100.0 +17.2% +6.0%

$365.0 n/d

$338.0 2 $6,400.0 -3.5% +14.3%

n/d n/d

Trammo Inc. 8 W. 40thPage St. Solomon New Madison York, NY 10018 260 Ave. New York, NY 10016 AmTrust Financial Services 59 Maiden Lane Corgan New Fifth York, Ave. NY 350 New York, NY 10118 Renco Group Inc. 1 Rockefeller Plaza CannonDesign New E. York, NY St. 10020 300 42nd New York, NY 10017 Imperial Bag & Paper Co. 255 Greenman-Pedersen U.S. Route 1 and Route GPI Inc.9 JerseyW.City, 07306 325 MainNJSt. Babylon, NY 11702 Suffolk 50 Rockefeller Plaza Mitchell Inc. New York,Martin NY 10020 550 Seventh Ave. New York, NY 10018 NFI 2 Cooper St. Inc. Barr & Barr Camden, NJ 08102 462 Seventh Ave. New York, NY 10018 PrestigePEO 538 Broadhollow Road Diversant Melville, NY 11747 331 Newman Springs Road Red Bank, NJ 07701

212-223-3200 trammo.com 212-403-6100 solomonpage.com

$6,400.0 +52.4% $334.0 +39.2%

n/d n/d

212-541-6000 rencogroup.net 212-972-9800 cannondesign.com

Carrie Moore, Technical design partner Tom President, chief executive Julia Bené, Murphy, Ken Lewis, Laura Ettelman Danny Wirtz, Charles Merinoff Managing partners Co-chairmen Chris Cooper, Colin Koop Design partners Edward Weiner President, Scott Pagechief executive Lloyd Solomon Managing directors Barry Zyskind President, Rick Ryan chief executive George Kahler Associate principals Ira Rennert Founder,Kahn chairman, chief executive Richard Office practice leader

201-437-7440 imperialdade.com 631-587-5060 gpinet.com

Robert Tillis, Chairman Jason Tillis, Gregory ZenkPresident, chief executive Executive vice president, branch manager (Metropolitan-area)

$4,572.2 +61.8% $313.5 +2.3%

$5,400.0 n/d

646-952-8000 suffolk.com 212-943-1404 mitchellmartin.com

Thomas Giordano, General manager Ralph Esposito Eugene Holtzman President, Northeast and Mid-Atlantic regions President

$4,560.5 +13.3% $311.4 +27.0%

$5,200.0

877-634-3777 nfiindustries.com 212-563-2330 barrandbarr.com

Ike Brown, Jeffrey Brown Vice chairs Keith Stanisce Sidney Brown, executive President, chiefChief executive

$3,900.0 7 +25.0% $308.8 11 +1.1%

n/d n/d

516-692-8505 prestigepeo.com 732-222-1250 diversant.com

Andrew Lubash Founder, chief executive Raj Sardana Robynexecutive Rusignuolo Chief Chief operating officer

$3,661.4 +22.5% $300.0 11 +25.0%

$4,000.0 n/d

J.M. Huber Corp. Stanford Investment Group 499 Grove Thornall 629 St.St. Edison, NJ 08837 Ridgewood, NJ 07450

732-603-3643 201-652-8529 huber.com stanfordinvgroup.com

Gretchen McClain David Rajpurohit President, partner chief executive Managing

8 $3,350.0 $300.0 7 0.0% 0.0%

n/d n/d

Univision Adams & Co. Real Estate Communications Inc. 411 Fifth Ave. 605 Third Ave.10016 New York, NY New York, NY 10158 Eileen Fisher Inc. J. Crew St. 2 Bridge 225 Liberty Irvington, NYSt. 10533 New York, NY 10281

corporate.univision.com 212-679-5500 adamsre.com

Wade Davis David Levy Chief executive Principal

9 $2,570.0 $288.8 +2.8% -2.7%

n/d $281.0

800-445-1603 jcrew.com eileenfisher.com

Eileen Fisher Adam Chair Brotman Chief executive

$267.0 219 $2,300.0 +10.8% +9.5%

n/d n/d

n/d Women’s clothing design, Apparel stores 9,000 2 wholesale and retail

Perkins Eastman Sigma Plastics 115 Fifth Ave. Group Page and Schuyler Ave. New York, NY 10003 Lyndhurst, NJ 07071

212-353-7200 954-429-6100 perkinseastman.com sigmaplasticsgroup.com

Andrew Adelhardt III, Shawn Basler, Mark Teo,Leahy President, chief executive Nicholas Andrew Chief financial officer Co-chiefTeo, executives

$265.1 $2,250.0 -3.5% -10.0%

n/d n/d

n/d 5,000

William Cote Robert Unanue Founder, chief executive President, chief executive

$265.1 15 $2,000.0 +1.0% 0.0%

Major League Baseball 11 24 Seven 1271 SixthInc. Ave. 105 New Maxess York, NYRoad 10020 Melville, NY 11747 STO Building Group 4 New York Mets 330 W. 34th St. 41 Way10001 NewSeaver York, NY Queens, NY 11368 National Basketball Mediaocean Association 45 18thAve. St. 645W.Fifth New York, NY 10011 10022

917-661-7800 212-956-5803 thorntontomasetti.com ragny.com 212-298-9300 212-699-7000 som.com breakthrubev.com

877-528-7878 amtrustfinancial.com 212-490-2930 corgan.com

Hudson Meridian Construction 212-608-6600 Goya Foods Inc. 201-348-4900 Group hudsonmeridian.com 350 County17Road goya.com P012_P020_CN_20231127.indd 61 Broadway Jersey City,NYNJ10006 07307 New York,

2022 REVENUE (IN 2 $405.0 MILLIONS) +91.0% % CHANGE VS. 2021

Staffing and consulting

n/d 2023 PROJECTED REVENUE (IN MILLIONS)

n/d Professional basketball team 2023 TOTAL COMPANY EMPLOYEES 1 NATURE OF BUSINESS

n/d

Global business, financialand 20,000 n/d 2 Crypto financial services information and newsplatform wealth management

$5,100.0 2 +10.9% $331.2 +61.9%

n/d $400.0

$5,000.0 2 0.0% $327.0 -5.2%

n/d n/d

$290.0

n/d $2,000.0

Diversified global information, Construction management, servicescontracting and media and company general consulting Global and building materials Wines spirits importing and distribution

26,906 3 Sports media 296 Temp, direct-hire and executive search with a digital, marketing and creative focus 4,350 Construction management and n/d general Professional baseball team contracting 22,081 3 Sports association intended to n/d Advertising manage andsoftware organizeprovider basketball tournaments.

1,500 n/d

Engineering and architecture Retail, energy and real estate, firm media

n/d Architecture, engineering, 7,000 2 interior Wine and spiritsand distribution design urban planning n/d n/d

Commodity merchandizing, distribution and transportation Specializing in staffing, direct hire and retained executive search 6,036 2 Property and casualty insurance company 920 Architecture and interior design firm 15,000 2 Military vehicles, automotive interiors, pallet racks, n/d n/d magnesium and refined metals 7,200 1,479

Wholesale food service and Industrial packaging and Comprehensive engineering, janitorialplanning, supplies and design, construction management/ 1,746 inspection Real estate,services construction, general contractor, builder, 1,824 contractor, Informationconstruction technology and health care staffing and manager consulting 17,000 8 Third-party logistics company n/d Construction management 34,000 n/d

Professional employer organization IT recruiter

8 Ingredients and materials 4,900 n/d Private-equity investment and manufacturer management

n/d 261

Hispanic-American Real estate propertymedia management, brokerage and consulting

Design and architecture Flexible packaging

November 27, 2023 | CRAIN’S NEW YORK BUSINESS | 17

n/d 500

Construction management Food manufacturing, packaging and distribution 11/21/23 2:48 PM

91 92 THE LIST 92 LARGEST PRIVATELY HELD COMPANIES 94 95 196 297 398 499 5100 6101 6102 8103 9104 104 10 106 11 107 11 108 13 109 14 15 110 16 111 Ongoing 17 112 investigations 18 113 #50 19 114 20 115 116 21 117 22 23 RANK

Barr & Barr Inc. 462 Seventh Ave. New York, NY 10018

212-563-2330 barrandbarr.com

Keith Stanisce President, chief executive

$308.8 11 +1.1%

n/d

Construction management

Diversant 331 Newman Springs Road Red Bank, NJ 07701

732-222-1250 diversant.com

Raj Sardana Chief executive

$300.0 11 +25.0%

n/d

IT recruiter

Stanford Investment Group 629 Grove St. Ridgewood, NJ 07450

201-652-8529 stanfordinvgroup.com

David Rajpurohit Managing partner

$300.0 7 0.0%

n/d

Private-equity investment and management

Adams & Co. Real Estate 411 Fifth Ave. New York, NY 10016

212-679-5500 adamsre.com

David Levy Principal

$288.8 -2.7%

$281.0

261

Real estate property management, brokerage and consulting

Eileen Fisher Inc. 2 Bridge St. Irvington, COMPANY NY 10533

800-445-1603 eileenfisher.com PHONE/

Eileen Fisher Chair

WEBSITE

TOP EXECUTIVE(S)

Perkins Eastman Bloomberg LP 115 Lexington Fifth Ave. Ave. 731 10003 New York, NY 10022

212-353-7200 212-318-2000 perkinseastman.com bloomberg.com

Andrew Adelhardt III, Shawn Basler, Mike Bloomberg Nicholas Leahy Chief executive Co-chief executives

Hudson Meridian Construction Hearst Group 300 W. 57th St. 61 Broadway New York, NY 10019 New York, NY 10006 Standard Industries Howell 9E.W. W. 57th St.Construction Group New York, NY 10019 245 Newtown Road Plainview, NY 11803 Major League Baseball 1271 Sixth Ave. Schweiger Dermatology Group New York, NY 10020 33 E. 33rd St. New Building York, NY 10016 STO Group 4

212-608-6600 212-649-2000 hudsonmeridian.com hearst.com

n/d 2023 PROJECTED REVENUE (IN MILLIONS)

n/d Women’s clothing design, 2023 TOTAL COMPANY wholesale and retail EMPLOYEES 1 NATURE OF BUSINESS

$265.1 2 $12,200.0 -3.5% +10.9%

n/d

n/d 2 Global Design business, and architecture financial 20,000 information and news

WilliamSwartz, Cote President, chief executive Steven Founder,Hearst chief executive William III, Chairman Frank Bennack Jr., Executive vice chairman, former chief executive

$265.1 15 $11,800.0 +1.0% -0.8%

n/d

n/d 21,790

212-821-1600 516-921-7100 standardindustries.com ewhowell.com

David Millstone HowardWinter Rowland David Chief executive Co-chief executives

$11,000.0 $258.0 +10.0% -7.5%

n/d n/d

646-495-4091 mlb.com 844-337-6362 schweigerderm.com

Rob Manfred Commissioner of baseball Eric Schweiger Founder, chief executive

$10,800.0 2 n/d $256.8 +35.1%

n/d

212-481-6100 stobuildinggroup.com 212-750-1808 navillusinc.com

James Donaghy, Executive chairman Robert Mullen, Chief executive Colin Mathers President, chief executive

212-407-8000 nba.com 212-564-3050 minutemedia.com

Construction management Diversified global information, services and media company Global building materials General contracting and construction management

26,906 3 Sports media

$300.0

1,359

$10,390.0 +9.3% $252.8 11 +1.1%

$11,096.0

4,350

Adam Silver Commissioner Asaf Peled Founder, chief executive

$10,000.0 3 n/d $250.0 3 +47.1%

n/d n/d

n/d

805-223-3307 212-408-3800 ramp.com cgsinc.com

Eric Glyman Philipexecutive Friedman Chief President, chief executive

$10,000.0 3 15 $235.0 n/d +7.8%

n/d n/d

914-696-9000 212-419-1930 cng-inc.com omnibuild.com

Andrew Wallach Peter Serpico President, chief executive Principal, chief executive

$9,300.0 $232.4 +31.0% +23.6%

n/d n/d

4,300 n/d

Via Horizon Media Inc. 160Varick VarickSt.St. 75 New York, NY 10013

ridewithvia.com 212-220-5000 horizonmedia.com

Daniel Ramot Founder, president, chief executive Bill Koenigsberg, Co-founder, chiefExecutive executivevice president, chief operating and Vincent O'Toole, financial officer

$200.0 53 $8,700.0 n/d -8.4%

n/d

n/d 5 Media Ridesharing e-hail services and marketing 2,300

Wiz Apple Group Inc. Red One Manhattan 800 Third Ave. West New York, NY 10022 10001

wiz.io 212-956-5803 ragny.com

AssafCatsimatidis Rappaport John Chief executive Chairman, president, chief executive

$200.0 23 $7,100.0 n/d +6.0%

n/d

Toorak Capital Partners Breakthru Beverage Group 6 15 E. Maple 60 42ndSt.St. Summit, New York,NJNY07901 10165

212-393-4100 212-699-7000 toorakcapital.com breakthrubev.com

JohnBené, Beacham Tom President, chief executive Founder, chiefCharles executive Danny Wirtz, Merinoff Co-chairmen

$199.0 215 $6,400.0 +47.1% +14.3%

n/d

New Jersey Trammo Inc.Devils 825W.Lafayette 40th St.St. Newark, New York,NJNY07102 10018

973-757-6100 212-223-3200 newjerseydevils.com trammo.com

David Blitzer Edward Weiner Joshua Harris President, chief executive Co-managing partners

$191.0 8 $6,400.0 +144.9% +52.4%

n/d

Axtria Inc. AmTrust Financial Services 300Maiden ConnellLane Drive 59 Berkeley NJ 07922 New York,Heights, NY

877-929-8742 877-528-7878 axtria.com amtrustfinancial.com

Jaswinder Chadha Barry Zyskind Chief executive President, chief executive

$187.0 27 $5,100.0 +23.0% +10.9%

n/d

Kohn Pedersen Fox Associates Renco Group Inc. W. 42nd St. 111Rockefeller Plaza 10036 New York, NY 10020

212-977-6500 212-541-6000 kpf.com rencogroup.net

James von Klemperer Ira Rennert Presidentchairman, chief executive Founder,

$186.0 2 $5,000.0 +5.3% 0.0%

$185.0 n/d

AFD Contract Inc. Imperial Bag &Furniture Paper Co. 810 U.S. Seventh Ave. 255 Route 1 and Route 9 New York, Jersey City,NYNJ10019 07306

212-721-7100 201-437-7440 afd-inc.com imperialdade.com

$185.0 $4,572.2 +19.4% +61.8%

n/d $5,400.0

n/d 7,200

Work spacefood management Wholesale service and Industrial packaging and janitorial supplies

Suffolk NewRockefeller York Islanders 50 Plaza 200 York, Merrick New NY Ave. 10020 East Meadow, NY 11554

646-952-8000 516-501-6700 suffolk.com newyorkislanders.com

RichardTillis, Aarons Robert Chairman Chairman Jason Tillis, President, chief executive David Aarons Chief executive Thomas Giordano, General manager Scott Malkin Ralph Esposito Owner, governor President, Northeast and Mid-Atlantic regions

$4,560.5 $181.0 8 +13.3% +147.9%

$5,200.0 n/d

1,746 n/d

Real estate, construction, Professional hockeybuilder, team general contractor, contractor, construction manager

330 W. 34th St. Navillus New York, NY 10001 633 Third Ave. New York,Basketball NY 10017 National

Association Minute 645 FifthMedia Ave. 462 York, Seventh Ave. New NY 10022 New York, NY 10018 Ramp 20 CGSFifth 71 Ave. 200 Vesey St. NY 10003 New York City, New York, NY 10281 Central National Omnibuild Inc. Gottesman W. 36th St. Road 3141 Manhattanville New York, NY Purchase, NY 10018 10577

BUCK ENNIS

2022 REVENUE (IN 19 $267.0 MILLIONS) +10.8% % CHANGE VS. 2021

GZA GeoEnvironmental of New 877-634-3777 212-594-8140 Cassandra WetzelBrown NFI Ike Brown, Jeffrey gza.com president, district office manager COMPANY 2York Cooper St. nfiindustries.com Vice chairs 104 W. 29th St. Camden, NJ 08102 Sidney Brown, Chief executive SPOTLIGHT New York, NY 10001 EACH YEAR, Crain’s estimates theLubash revePrestigePEO 516-692-8505 Andrew Trump Vericon Construction 908-873-0022 Charlie and DeAngelis nue of the Trump Organization, 538 Broadhollow RoadCo. prestigepeo.com Founder, chiefour executive 1063 Route 22 E. vericonbuilds.com Owner,available chief executive Melville, NY 11747 Robyn Rusignuolo figures are based on publicly Organization Mountainside, NJ 07092 Stephen Mellett operating information about its realChief estate hold-officer ings, casinos, golf coursesOwner, andpresident enterJ.M. Huber Corp. 732-603-3643 Gretchen McClain tainment venues. This year’s Wm. Thornall Blanchard 973-376-9100 Williamestimate Blanchard 499 St. Co. huber.com President, chief executive comes as New York Attorney General 199 Mountain Ave. wmblanchard.com Chairman Edison, NJ 08837 Letitia James investigates the former Springfield, NJ 07081 president’s businesses, though the AG’s Univision corporate.univision.com Wade Davis IA Interior Architects 212-682-6909 Jiman Camp office did not respond toChief inquiry Communications Inc. executive 100 Third Broadway interiorarchitects.com Managing HowDirector 605 Ave. about 2022 revenue specifically. New York, York, NY NY 10158 10005 New ever, the sale of the Trump International

INVNTFoods Grioup Goya Inc.

101 County Greenwich St. P012_P020_CN_20231127.indd 18 350 Road

New York, Jersey City,NYNJ10006 07307

212-334-3415 201-348-4900 invntgroup.com goya.com

Scott Cullather, Robert Unanue President, chief executive Kristina McCoobery, Chief operating officer President, chief executive John Wringe, Non-executive chairman

Construction management and general contracting n/d Concrete superstructure, masonry, tile, carpentry and generalassociation contractingintended to 3 22,081 Sports

n/d

manage and organize Publishing tournaments. platform basketball Finance automation platform Business applications, enterprise learning and outsourcing services Sales and distribution of pulp, Construction paper, tissue,management, packaging and general contractors other products

Cloud security platform Retail, energy and real estate, media

n/d 2 Wine Institutional capital for real 7,000 and spirits distribution estate lenders n/d

Professionalmerchandizing, hockey team Commodity distribution and transportation

n/d 2 Property Data andand analytics casualty 6,036 insurance company n/d 2 Military Architecture 15,000 vehicles, automotive interiors, pallet racks, magnesium and refined metals

Slow but steady

738 8 Third-party Geotechnical, environmental, 17,000 logistics company water, ecological, construction management consulting and JOB NUMBERS in the private sector of the city are slowly creeping up to meet engineering pre-pandemic levels. $3,661.4 $4,000.0 34,000 Professional employer 7 $166.3 n/d n/d organization Construction management +22.5% Total nonfarm employees in thousands, seasonally adjusted,and NYC +22.4% general contracting

$171.5 7 $3,900.0 +7.6% +25.0%

$175.0 n/d

$3,350.0 8 $163.5 0.0% n/d

n/d n/d

$2,570.0 9 $162.0 +2.8% +20.0%

n/d n/d

$158.0 2 $2,300.0 n/d +9.5%

$165.0 n/d

$152.0 $2,250.0 +0.0% -10.0%

n/d

n/d 5,000

$142.0 $2,000.0 +132.8% 0.0%

$163.0 $2,000.0

182 500

5,000 4,500 4,000 3,500

Hotel in Washington, D.C., which

914-637-3510 Marc Koch J.Somnia Crew Inc. jcrew.com Adam Brotman closed in May of 2022, bolstered reve450 Liberty Mamaroneck somniainc.com President, chief executive 225 St. Chief executive nue by at least $375 million. Harrison, New York, NY NY 10528 10281 Trump Golf Links at Ferry Point — Amanda Glodowski Stark Carpet 212-752-9000 John Stark, Chairmanchief executive Sigma PlasticsCorp. Group 954-429-6100 Mark Teo, President, 18 | CRAIN’S NEW YORK BUSINESS 27, 2023 979 Third Ave. | November starkcarpet.com Steven Stark, President Page and Schuyler Ave. sigmaplasticsgroup.com Andrew Teo, Chief financial officer New York, NY Chad Stark, Chief executive Lyndhurst, NJ 10022 07071

n/d

Medical and cosmetic dermatology services

3,000

Jan. 2020

4,900 8 Ingredients and materials n/d manufacturer Building construction

4,704.5

n/d n/d

Hispanic-American media People-centric workplace, retail, and hospitality environments

n/d 2 Apparel Anesthesia management stores 9,000 services for hospitals and Sept. 2023 surgery centers

Source: New York State Dept. of Labor

Carpet and rugs Flexible packaging

Globalmanufacturing, brand storytelling Food packaging agency 11/21/23 2:49 PM and distribution

1 1 1 1 1 1 21 31 41 51 61 61 8 1 9 11 11 1 1 1 1 1 1 1 1 2 2 2 2

RAN

To Yor res cha of S Gro Fro The

als

meet

nd NYC

ail,

2023

Labor

106 107 108 109 110 111 1 2112 3113 4114 5115 6116 6117 8 118 9 119 10 120 11 121 11 122 13 14 123 15 124 16 125 17 18 19 20 21 22 23 RANK

Toorak Capital Partners 15 Maple St. Summit, NJ 07901

212-393-4100 toorakcapital.com

John Beacham Founder, chief executive

$199.0 15 +47.1%

n/d

Institutional capital for real estate lenders

New Jersey Devils 25 Lafayette St. Newark, NJ 07102

973-757-6100 newjerseydevils.com

David Blitzer Joshua Harris Co-managing partners

$191.0 8 +144.9%

n/d

Professional hockey team

Axtria Inc. 300 Connell Drive Berkeley Heights, NJ 07922

877-929-8742 axtria.com

Jaswinder Chadha Chief executive

$187.0 7 +23.0%

n/d

Data and analytics

Kohn Pedersen Fox Associates 11 W. 42nd St. New York, NY 10036

212-977-6500 kpf.com

James von Klemperer President

$186.0 +5.3%

$185.0

n/d

Architecture

AFD Contract Furniture Inc. 810 Seventh Ave. New York, NY 10019

212-721-7100 afd-inc.com

n/d

Work space management

PHONE/ WEBSITE

Richard Aarons Chairman David Aarons TOP EXECUTIVE(S) Chief executive

New York Islanders Bloomberg LP 200 Ave. 731 Merrick Lexington Ave. East Meadow, NY 11554 New York, NY 10022

516-501-6700 212-318-2000 newyorkislanders.com bloomberg.com

Scott Malkin Mike Bloomberg Owner, governor Chief executive

$181.0 82 $12,200.0 +147.9% +10.9%

GZA GeoEnvironmental of New Hearst York 300 W. 57th St. 104 29th New W. York, NY St. 10019 New York, NY 10001 Standard Industries Vericon Construction Co. 9 W. 57th St. 1063 Route E. New York, NY22 10019 Mountainside, NJ 07092 Major League Baseball 1271 Sixth Ave. Wm. Blanchard Co. New York, NY 10020 199 Mountain Ave. Springfield, NJ 070814 STO Building Group 330 W. 34th St. IA Interior Architects New York, NY 10001 100 Broadway New York, NY 10005 National Basketball Association Somnia Inc. 645 Fifth Ave. 450 Mamaroneck New York, NY 10022 Harrison, NY 10528 Ramp Stark Carpet 71 Fifth Ave. Corp. 979 Ave. NY 10003 New Third York City, New York, NY 10022 Central National INVNT Grioup Gottesman Inc. 101 Greenwich St.Road 3 Manhattanville New York, NY Purchase, NY 10006 10577

212-594-8140 212-649-2000 gza.com hearst.com

Cassandra Wetzel Steven Swartz, President, chief executive Vice president, district office manager William Hearst III, Chairman Frank Bennack Jr., Executive vice chairman, former chief executive

$171.5 $11,800.0 +7.6% -0.8%

212-821-1600 908-873-0022 standardindustries.com vericonbuilds.com 646-495-4091 mlb.com 973-376-9100 wmblanchard.com

David Millstone Charlie DeAngelis David Winter Owner, executive Co-chiefchief executives Stephen Mellett Owner, president Rob Manfred Commissioner of baseball William Blanchard Chairman

212-481-6100 stobuildinggroup.com 212-682-6909 interiorarchitects.com

James Donaghy, Executive chairman Robert Mullen, Chief executive Jim Camp Managing Director

$10,390.0 +9.3% $162.0 +20.0%

212-407-8000 nba.com 914-637-3510 somniainc.com

Adam Silver Commissioner Marc Koch President, chief executive

$10,000.0 3 n/d $158.0 n/d

$165.0

805-223-3307 212-752-9000 ramp.com starkcarpet.com

$10,000.0 3 $152.0 n/d +0.0%

n/d n/d

Horizon Media Inc. 75 Varick St. New York, NY 10013 H&H 21 1501 Broadway Red Apple Group Inc. New York, NY 800 Third Ave.10036 New York, NY 10022 Pomptonian Food Service 3 Edison Place Breakthru Beverage Group 6 Fairfield, NJ St. 07004 60 E. 42nd New York, NY 10165

212-220-5000 horizonmedia.com

Eric Glyman John Chairman Chief Stark, executive Steven Stark, President Chad Stark, Chief executive Andrew Wallach Scott Cullather, President, chief President, executive chief executive Kristina McCoobery, Chief operating officer John Wringe, Non-executive chairman Jerry Deeney, Chief client officer Wolf Karbe, Chief Founder, financial president, officer Bill Koenigsberg, chief executive Paul Blurton, Chief creativevice officer Vincent O'Toole, Executive president, chief operating and financial officer Sean Bluni Chief executive John Catsimatidis Chairman, president, chief executive

973-882-8070 pomptonian.com 212-699-7000 breakthrubev.com

Skyline Restoration Inc. Trammo Inc. 49-28 31st Place 8 W. 40th St. Long Island City, NY 11101 New York, NY 10018

COMPANY

914-696-9000 212-334-3415 cng-inc.com invntgroup.com

$185.0

2022 REVENUE (IN +19.4% MILLIONS) % CHANGE VS. 2021

n/d 2023 PROJECTED REVENUE (IN MILLIONS)

n/d

2023 TOTAL COMPANY EMPLOYEES 1 NATURE OF BUSINESS

n/d 2 Professional hockey team Global business, financial 20,000 information and news

$175.0 n/d

738 21,790

$11,000.0 $166.3 7 +10.0% +22.4%

n/d n/d

$10,800.0 2 n/d $163.5 n/d

n/d

$9,300.0 $142.0 +31.0% +132.8%

26,906 3 Sports media

n/d

$11,096.0

4,350

n/d

n/d $163.0

Geotechnical, environmental, Diversified global information, water, ecological, construction services and media company management consulting and engineering Global building materials Construction management and general contracting

Building construction Construction management and general contracting People-centric workplace, retail, and hospitality environments

22,081 3 Sports association intended to manage and organize n/d Anesthesia management basketball tournaments. services for hospitals and surgery centers n/d Finance automation platform n/d Carpet and rugs

4,300 182

Sales and distribution of pulp, Global tissue, brand storytelling paper, packaging and agency other products

$8,700.0 5 -8.4%

n/d

$139.0 +11.4% 2 $7,100.0 +6.0%

n/d n/d

Candy Vidovich Chief executive Tom Bené, President, chief executive Mark DannyVidovich Wirtz, Charles Merinoff President Co-chairmen

$132.7 7 +170.3% $6,400.0 2 +14.3%

n/d n/d

718-937-5353 212-223-3200 skylinerestoration.com trammo.com

Spiro Markatos Edward Weiner President President, chief executive

$130.1 $6,400.0 +5.1% +52.4%

Chelsea Senior Living AmTrust Financial Services 316 South Ave. 59 Maiden Lane Fanwood, NJ 9088894200 New York, NY

908-889-4200 877-528-7878 chelseaseniorliving.com amtrustfinancial.com

Roger Bernier Barry Zyskind President, chief operating officer President, chief executive Herbert Heflich Chief executive

$129.5 7 $5,100.0 2 +13.1% +10.9%

n/d n/d

Renco Group Inc. Corporation TDX Construction 1 Plaza 3 Rockefeller Manhattanville Road New York, NY 10020 Purchase, NY 10577

212-541-6000 212-279-1981 rencogroup.net tdxconstruction.com

Ira Rennert Joseph Fitzpatrick Founder, Presidentchairman, chief executive

2 $5,000.0 $128.7 0.0% +22.0%

n/d $145.2

Imperial Bag & Paper Co.Co. Benfield Electric Supply 255 Route 1St. and Route 9 240 U.S. Washington Jersey NJ 07306 Mount City, Vernon, NY 10553

201-437-7440 914-948-6660 imperialdade.com benfieldelectric.com

Robert J.Tillis, Chairman Daniel McLaughlin Jason Tillis,chief President, chief executive President, executive

$4,572.2 $127.8 15 +61.8% +9.2%

$5,400.0 n/d

7,200 n/d

Wholesale service and Distributor food of electricity, power, Industrial packaging and data, lighting and elevator janitorial products supplies

Suffolk Syska Hennessy Group 50 Rockefeller 1185 Sixth Ave.Plaza New York, New York, NY NY 10020 10036

646-952-8000 212-921-2300 suffolk.com syska.com

Thomas Giordano, General manager Gary Brennen Ralph Esposito Chairman President, Cyrus Izzo Northeast and Mid-Atlantic regions

$4,560.5 $127.7 +13.3% +16.0%

$5,200.0 n/d

1,746 n/d

Real estate, MEP construction, Full-service , ICT and general contractor, builder, commissioning engineering contractor, construction manager

212-944-1150 hardestyhanover.com 212-956-5803 ragny.com

$125.0 n/d

2,300 5 Media and marketing services n/d n/d

Infrastructure engineering firm Retail, energy and real estate, media

n/d Food service 7,000 2 Wine and spirits distribution

109 n/d

Exterior restoration firm Commodity merchandizing, distribution and transportation

n/d Senior housing and care 6,036 2 Property and casualty insurance company 2 Military vehicles, automotive 15,000 178 Construction management interiors, pallet racks, magnesium and refined metals

President, chief executive

n/d 17,000 8 Third-party logistics company NFI 877-634-3777 Ike Brown, Jeffrey Brown $3,900.0 7 +25.0% 2 Cooper St. nfiindustries.com Vice chairs To qualify for Camden, this list, companies no ultimate They also need to be headquartered in the New York area, which includes New York City and Nassau, Suffolk and Westchester counties in New NJ 08102must be independent, privately held entities withSidney Brown,parent. Chief executive

York and Bergen, Essex, Hudson and Union counties in New Jersey. Nonprofit organizations, hospitals, mutual companies, travel agencies and partnerships such as accounting firms and law firms are excluded. Crain's New York Business uses staff research, extensive surveys and the most current references available to produce its lists, but there is no guarantee that these listings are complete. Revenue figures shown have been rounded to one decimal place, but rankings and percentage PrestigePEO 516-692-8505 Lubash $4,000.0 34,000 Professional employer changes are based on unrounded dollar figures. In cases of ties in 2022 revenue,Andrew companies are listed alphabetically under the same ranking number. Executives$3,661.4 may hold additional titles. n/d-Not disclosed. and full-time equivalent, as 1--Full-time of Sept. 30. 2-538 from Forbes. Tone/Pavarini McGovern. RC Andersen joined the firm in November 2021. 5--Figure from company's LinkedIn. 6--Merged New Jersey operations -Figure 3--Figure from PitchBook. 4--Previously StructureFounder, Broadhollow Road prestigepeo.com chief executive +22.5% organizationwith Allied Beverage Group in August 2017.NY NJBIZ Private Companies list. 8--From Forbes. 9--Crain's 7--From 10--Figure from company press release. 11--Crain's estimate. 12--Previously listed as Turtle & Hughes Inc. 13--Figure from PitchBook. 2023 revenue. 14-Melville, 11747 Robynestimate Rusignuolo From The Wall Street Journal. 15--Company estimate submitted in 2022. 16--FigureChief fromoperating company website. officer 17--From company website. 18--Company includes Palm Bay International Inc., Taub Family Selections and Heritance Vintners. 19--Figure from The Wall Street Journal. 20--Also known as Computer Generated Solutions Inc. 21--Previously listed as Hardesty & Hanover. J.M. Huber Corp. 732-603-3643 Gretchen McClain $3,350.0 8 n/d 4,900 8 Ingredients and materials

499 Thornall St. Edison, NJ 08837

huber.com

President, chief executive

Univision Communications Inc. 605 Third Ave. New York, NY 10158

corporate.univision.com

Wade Davis Chief executive

$2,570.0 9 +2.8%

n/d

J. Crew 225 Liberty St. New York, NY 10281

jcrew.com

Adam Brotman Chief executive

$2,300.0 2 +9.5%

n/d

Sigma Plastics Group Page and Schuyler Ave. Lyndhurst, NJ 07071

954-429-6100 sigmaplasticsgroup.com

Mark Teo, President, chief executive Andrew Teo, Chief financial officer

$2,250.0 -10.0%

n/d

Goya Foods Inc.

201-348-4900 goya.com

Robert Unanue President, chief executive

$2,000.0 0.0%

$2,000.0

P012_P020_CN_20231127.indd 350 County19Road

Jersey City, NJ 07307

manufacturer

0.0% n/d

Hispanic-American media

9,000 2 Apparel stores

WANT MORE OF CRAIN’S EXCLUSIVE DATA? VISIT CRAINSNEWYORK.COM/LISTS. 5,000

Flexible packaging

November 27, 2023 | CRAIN’S NEW YORK BUSINESS | 19

500

Food manufacturing, packaging 11/21/23 2:49 PM and distribution

THE LIST LARGEST PRIVATELY HELD COMPANIES ALPHABETICAL LISTING COMPANY PAGE

COMPANY PAGE

24 Seven Inc.----------------------------------------- 17 Adams & Co. Real Estate------------------------------ 17 AFD Contract Furniture Inc.--------------------------- 18 Alcott HR---------------------------------------------- 15 Alliance Shippers Inc.--------------------------------- 15 Allied Beverage Group-------------------------------- 14 AmTrust Financial Services--------------------------- 12 Atrium------------------------------------------------- 16 Axtria Inc.--------------------------------------------- 18 Barr & Barr Inc.--------------------------------------- 17 Benfield Electric Supply Co.--------------------------- 19 BlockFi------------------------------------------------ 17 Bloomberg LP----------------------------------------- 12 Breakthru Beverage Group---------------------------- 12 Brooklyn Nets----------------------------------------- 16 CannonDesign---------------------------------------- 17 Capital Rx--------------------------------------------- 15 Central National Gottesman Inc.---------------------- 12 CGS--------------------------------------------------- 18 Chelsea Senior Living--------------------------------- 19 Corgan------------------------------------------------ 17 Curry Automotive------------------------------------- 16 Diversant---------------------------------------------- 17 Doherty Enterprises----------------------------------- 16 E-J Electric Installation Co.--------------------------- 15 E.W. Howell Construction Group----------------------- 18 Eileen Fisher Inc.-------------------------------------- 17 Empire Office Inc.------------------------------------- 16 Fedway Associates Inc. and Affiliates----------------- 14 FreshDirect-------------------------------------------- 15 Gellert Global Group----------------------------------- 14 Gensler------------------------------------------------ 14 Goya Foods Inc.--------------------------------------- 14

GPI Greenman-Pedersen Inc.------------------------- 17 GZA GeoEnvironmental of New York------------------ 19 H&H--------------------------------------------------- 19 Harry’s------------------------------------------------ 16 Hearst------------------------------------------------- 12 HNTB New York Engineering and Architecture-------- 14 HOK--------------------------------------------------- 16 Horizon Media Inc.------------------------------------ 12 Hudson Meridian Construction Group----------------- 18 IA Interior Architects---------------------------------- 19 ICC Industries Inc.------------------------------------- 14 Imperial Bag & Paper Co.----------------------------- 12 INVNT Grioup------------------------------------------ 19 Iovino Enterprises------------------------------------- 16 J. Crew------------------------------------------------ 13 J.M. Huber Corp.-------------------------------------- 13 J.T. Magen & Co. Inc.--------------------------------- 14 JRM Construction Management---------------------- 15 Justworks--------------------------------------------- 14 Kobalt------------------------------------------------- 15 Kohn Pedersen Fox Associates------------------------ 18 Krasdale Foods Inc.----------------------------------- 15 LRC Construction LLC--------------------------------- 16 Major League Baseball-------------------------------- 12 Manhattan Beer Distributors-------------------------- 14 Mediaocean------------------------------------------- 17 Mindlance--------------------------------------------- 16 Minute Media----------------------------------------- 18 Mitchell Martin Inc.----------------------------------- 17 National Basketball Association----------------------- 12 Navillus----------------------------------------------- 18 New Jersey Devils------------------------------------ 18 New York Giants--------------------------------------- 15

New York Islanders------------------------------------ 19 New York Jets----------------------------------------- 16 New York Mets---------------------------------------- 17 New York Yankees------------------------------------- 15 NFI---------------------------------------------------- 13 Noom------------------------------------------------- 15 Omnibuild--------------------------------------------- 18 Perkins Eastman-------------------------------------- 18 PIM Brands Inc.--------------------------------------- 15 Pomptonian Food Service----------------------------- 19 Posillico Civil Inc.------------------------------------- 16 PrestigePEO------------------------------------------- 13 Pride Global------------------------------------------- 15 Ramp------------------------------------------------- 12 Red Apple Group Inc.---------------------------------- 12 Renco Group Inc.-------------------------------------- 12 Rokt--------------------------------------------------- 17 Russell Reynolds Associates-------------------------- 14 Saatva------------------------------------------------ 17 Schimenti Construction Co.--------------------------- 17 Schweiger Dermatology Group----------------------- 18 SeatGeek--------------------------------------------- 16 Sigma Plastics Group--------------------------------- 14 Skidmore, Owings & Merrill--------------------------- 17 Skyline Restoration Inc.------------------------------- 19 Solomon Page---------------------------------------- 17 Somnia Inc.------------------------------------------- 19 Standard Industries----------------------------------- 12 Stanford Investment Group--------------------------- 17 Stark Carpet Corp.------------------------------------ 19 STO Building Group----------------------------------- 12 STV--------------------------------------------------- 15 Suffolk------------------------------------------------ 13

Sugar Foods Corp.------------------------------------ 15 Synechron Inc.---------------------------------------- 16 Syska Hennessy Group------------------------------- 19 Taub Family Cos.-------------------------------------- 17 TDX Construction Corporation------------------------ 19 The LiRo Group--------------------------------------- 16 Thornton Tomasetti Inc.------------------------------- 17 Toorak Capital Partners------------------------------- 18 Torcon Inc.-------------------------------------------- 15 Tory Burch-------------------------------------------- 14 Trammo Inc.------------------------------------------ 12 TransPerfect------------------------------------------ 14 Triton Construction Co.-------------------------------- 17 Trump Organization----------------------------------- 15 Turtle-------------------------------------------------- 15 Univision Communications Inc.----------------------- 13 Urban Atelier Group----------------------------------- 16 Vericon Construction Co.------------------------------ 19 Via---------------------------------------------------- 18 Vice Media Inc.---------------------------------------- 15 Vista Food Exchange Inc.----------------------------- 15 Warby Parker Inc.------------------------------------- 15 Weeks Marine Inc.------------------------------------ 15 Wiz---------------------------------------------------- 18 Wm. Blanchard Co.----------------------------------- 19 Ziff Davis Inc.----------------------------------------- 14

WANT MORE OF CRAIN’S EXCLUSIVE DATA? VISIT CRAINSNEWYORK.COM/LISTS.

20 | CRAIN’S NEW YORK BUSINESS | November 27, 2023

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Police headcount, trash cans reduced in mayor’s revised budget Some city services will see visible reductions due to the nearly $4 billion cut, which will take effect immediately. And more cuts may be on the way. By Nick Garber

Moynihan Train Hall | BUCK ENNIS

Retail leasing is chugging along at Moynihan Train Hall By Mario Marroquin

The more than 600,000 daily commuters who travel through Moynihan Train Hall, which opened nearly two years ago as an expansion of Penn Station, are proving a key draw for retailers. On Nov. 16, Milan, Italy-based stationery brand Moleskine was set to open on the ground level of the train station. The company will market its signature products, such as leather-bound notebooks and planners, in 1,100 square feet of space. It will also have an arts studio that it will operate in partnership with the Department of

Hall in tandem with Midtownbased The Related Cos., handles leasing at the property. Vornado says it has leased all 30 storefronts on the concourse level of the train station. Moynihan offers 120,000 square feet of retail space, with apparel brand Rains and skin care brand Malin + Goetz also on its tenant list.

Food options Moynihan’s food hall is home to The Irish Exit, a transit-friendly concept led by the hospitality group that manages The Dead Rabbit in downtown Manhattan. Japanese restaurant Yono Sushi and Mexican restaurant La Esquina are slated to open in the coming months, Vornado said. Vornado declined to provide additional details about the total square footage it has leased so far to retailers and food and beverage tenants, but the firm said there are deals in the works for the majority of the stores that make up the main level of the former post office building. Despite the positive momentum in retail leasing at Moynihan, the Penn Plaza submarket remains challenged, according to real estate research firm CoStar. Although the area benefits from commuters and tourists, the overall vacancy rate stood at 14.6% as of November, which is an outlier to the 4.1% average vacancy rate in the region. The neighborhood has seen retailers vacate 405,000 square feet of space in the last year, CoStar said.

Vornado Realty Trust says it has leased all 30 storefronts on the concourse level of the train station. Economic Development and Madison Square Park-based arts studio SoMad. Giuseppe Rizzo, president of Moleskine North America, told Crain’s that being able to target locals, commuters and tourists alike played a definite role in the company’s decision to open at Moynihan. “Globally, Moleskine’s most successful store formats are in transit hubs that cater to professionals and tourists on the go,” he said. The stationery store also has a storefront in Grand Central Terminal. Midtown-based real estate firm Vornado Realty Trust, which redeveloped the former Farley post office building into Moynihan Train

New York will cut back on library services and trash pickups, and reduce its police force to its smallest headcount in decades, as a result of a painful $4 billion budget cut necessitated by the migrant crisis, Mayor Eric Adams’ administration announced Nov. 16. The cuts — the first of as many as three spending reductions Adams may impose through next spring — were revealed as part of an annual budget revision for the current fiscal year, which lasts through June 2024. In November, City Hall checks to ensure that its fiscal projections match actual spending. The mayor can unilaterally enact the mid-year modifications, without City Council approval, in this so-called November Plan. That across-the-board 5% cut will save the city $3.7 billion through the next fiscal year and take effect immediately, officials said Nov. 16. But the results will soon be visible in the form of reduced services, and further cuts totaling as much as an additional 10% may be put in place in January and April without more state and federal aid for the crisis, according to City Hall. Notably, the city will pause hiring new NYPD officers by canceling the next five police academy classes, reducing the department’s headcount from 34,000 uniformed officers to around 29,000 by mid2025 — its lowest level since the 1990s. The NYPD had been largely spared from previous cuts Adams ordered last year. The number of litter baskets on the street will be reduced in the outer boroughs and some residential areas, officials said, and a Sanitation Department unit devoted to cleaning vacant lots will be eliminated. Adams allowed Sanitation to be the sole agency to escape the full 5% cut, instead giving it only a 3% reduction in hopes of minimizing the impact on services, the administration said.

Criticism The city’s three public library systems announced Nov. 16 that they will be forced to eliminate Sunday service at the vast majority of branches that now offer it, as a result of their 5% reduction that totals $24 million this fiscal year. The cut essentially undoes most of the funding won back by the City Council in June, when lawmakers eliminated the $36 million in library cuts that Adams’ administration had proposed as part of this year’s budget. “To balance the budget as the law requires, every city agency dug into their own budget to find savings, with minimal disruption to services,” Adams said in a statement. “And while we pulled it off

Mayor Eric Adams (right), pictured with budget director Jacques Jiha (left), announced details Nov. 16 about the 5% budget cuts he has imposed on nearly all city agencies due largely to the migrant crisis. | JOHN MCCARTEN/NYC COUNCIL MEDIA UNIT

this time, make no mistake: Migrant costs are going up, tax revenue growth is slowing, and Covid stimulus funding is drying up.” The administration also indicated it will cut back on asylumseeker spending by trying to reduce the number of people in its shelter system — now totaling about 66,000 — by helping them get work permits, and also by attempting to drive down the average per-day cost of caring for migrants. The City Council has taken the administration to task for failing to reduce that daily spending, which now stands at around $400 per person and is responsible for the increasingly high cost estimates for migrant care. City Hall did not publish any budget documents online before taking questions in a virtual briefing, in which reporters could participate only if they agreed not to quote officials directly. Only afterwards did the administration publish a full list of the programs being affected, which include community schools losing funding, a flood-protection program being eliminated, and a popular summer-school program seeing its slots and hours reduced. (Many agencies reached their savings targets by eliminating vacant positions, re-estimating costs that came in below expectations, and complying with a citywide hiring freeze.) City Council leaders criticized the cuts in a statement, although they have little power to stop them — unlike the final budget for the next fiscal year, which must be passed by the council. “The Administration’s approach of reducing budgets of all agencies broadly through additional cuts and a hiring freeze, along with inflicting cuts on our libraries, CUNY, and cultural institutions, is too blunt and not the prudent or sole choice,” Council Speaker Adrienne Adams and finance chair Justin Brannan said in a joint statement. The city officials who criticized the mayor’s plan generally ac-

knowledged that the city finds itself in a fiscal hole, but accused Adams of placing too much blame on migrants. Brannan, in an interview, noted that the depletion of federal stimulus money from the pandemic and the administration’s controversial reliance on costly emergency contracts during the migrant crisis also contribute to the budget crunch. City Comptroller Brad Lander echoed those points in a statement, and said the city should focus most of all on helping migrant secure work permits.

Calls for more help On the other hand, the fiscally hawkish Citizens Budget Commission, which has warned of an impending “cliff” due to years of poorly-thought-out spending growth, said Adams’ November Plan is just the first of many cuts the city will need to make. Andrew Rein, the commission’s president, called on the city to work with municipal labor unions to explore changing “work rules and job titles” to save money. Despite the new cuts, the city is still forecast to spend $7.1 billion more than it will take in in revenues in the next fiscal year, all but ensuring that more cuts will be imposed in January to close the gap as required by law. The city’s budget for the current 2024 Fiscal Year now stands at $110.5 billion, higher than the $107 billion budget passed in June, due mostly to higher-than-expected tax revenues and asylum-seeker money the city has received from the state and federal governments. Administration officials used Nov. 16th’s announcement to repeat their frequent call for more help from the state and federal governments, although they declined to give an exact dollar figure. “We’re asking New Yorkers to work with us but also to advocate at the state and at the federal level for the necessary resources,” First Deputy Mayor Sheena Wright said in an interview on Nov. 16.

November 27, 2023 | CRAIN’S NEW YORK BUSINESS | 21

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THE LIST TOP MANHATTAN RETAIL LEASES Biggest transactions in the first half of this year, ranked by square footage

amanda.glodowski@crainsnewyork.com

THE TOP FOUR

1540 Broadway (left), One Penn Plaza, 180 Broome St. and 435 Seventh Ave. | BUCK ENNIS, COSTAR BUILDING ADDRESS

SQUARE FEET TENANT

TENANT REPRESENTATIVE(S)

LANDLORD(S)

LANDLORD/SUBLANDLORD REPRESENTATIVE

NEIGHBORHOOD

DEAL TYPE

1 2 3

1540 Broadway

95,450 Forever 21

Direct deal

Vornado Realty Trust

Direct deal

Times Square

Renewal

One Penn Plaza

53,000 Life Time

Atlantic Retail

Vornado Realty Trust

Direct deal

Penn Plaza/Garment

New lease

180 Broome St.

45,000 Vital Climbing Gym

CBRE

Taconic Partners; L+M Development Partners; Goldman Sachs; BFC Partners; The Prusik Group

The Prusik Group

Soho

New lease

4 5

435 Seventh Ave.

42,600 Forever 21

Direct deal

Vornado Realty Trust

Direct deal

Penn Plaza/Garment

Renewal

6 E. 57th St.

36,000 Louis Vuitton

Robin Zendell & Associates

Digby Management Co.

Direct deal

Plaza District

New lease

6 7 8 9 10

881 Broadway

35,000 Crate & Barrel

CBRE

Century Link

Newmark

Gramercy Park

New lease

555 Fifth Ave.

34,536 Barnes & Noble

Direct deal

ATCO

Newmark

Fifth Avenue

New lease

2220 Broadway

30,000 PC Richard

JLL

2220 Broadway Associates

Newmark

Upper West Side

New lease

335 Eighth Ave.

27,779 Lidl

CBRE

Penn South

Cushman & Wakefield

Chelsea

New lease

200 Madison Ave.

27,180 TMPL

Cushman & Wakefield

George Comfort & Sons; Jamestown; Loeb Partners Realty

George Comfort & Sons

Murray Hill

New lease

11 12 13 14 15 16

91 Fifth Ave.

27,000 J. Crew

Newmark

HRC Corporation

Newmark

Flatiron District

Renewal

625-645 W. 57th St.

25,000 LOOK Dine-in Cinemas

RIPCO Real Estate

The Durst Organization

Columbus Circle

New lease

3 Park Ave.

22,000 New York Sports Club

CBRE

Cohen Brothers Realty

Direct deal

Murray Hill

Renewal

591 Broadway

18,358 H&M

JLL

Arnold Bias Products

CBRE

Soho

New lease

100 Broad St.

17,230 100 Market Place

PD Properties

Bonjour Capital

PD Properties

Financial District

New lease

620 W. 153rd St.

15,512 Round the Clock Nursery

Kassin Sabbagh Realty

AB & Sons Group

Kassin Sabbagh Realty

Harlem/North Manhattan

New lease

17 18

515 Madison Ave.

13,750 Zadig & Voltaire

Runyon

GFP Real Estate

Newmark

Plaza District

New lease

311 11th Ave.

13,609 Heavenly Market

Douglaston Development

Newmark

Chelsea

New lease

19 20 21 22 23 24 25 26

1115 Broadway

13,331 Tacology

CBRE

Triad Professional Services

Adams & Company

Chelsea

New lease

240 W. 37th St.

13,000 NYLO Aesthetics

LSL Advisors

Sioni Group

LSL Advisors

Penn Plaza/Garment

New lease

823-825 Madison Ave.

12,835 Carolina Herrera

Cushman & Wakefield

Friedland Properties

Direct deal

Upper East Side

New lease

825 Third Ave.

12,458 Rosemary’s

DLL Real Estate

The Durst Organization

Direct deal

Plaza District

New lease

1466 Broadway

12,457 Gift Shop

Direct deal

RLJ Lodging Trust

Cushman & Wakefield

Penn Plaza/Garment

New lease

28 Liberty St.

12,231 Court 16

CBRE & J3K Real Estate

Fosun International Ltd.

Newmark

Financial District

Expansion

2473-2475 Broadway

11,648 Petco Animal Supplies

RIPCO Real Estate

Haymes Investment Co.

CBRE

Upper West Side

Renewal

33 E. 33rd St.

10,700 F45 Training

CBRE

Kalimian Equities; Aspen 2005 Trust; Morad Kalimian

RIPCO Real Estate

Murray Hill

New lease

147-149 W. 46th St.

10,400 Mario Arcari

BHS Commercial Services

Montague-Lee LP

BHS Commercial Services

Times Square

New lease

28 29

1227 Broadway

10,372 Electric Shuffle

SRS

Lam Group

Newmark

Chelsea

New lease

80 Eighth Ave.

10,335 Buckle My Shoe Nursery School

GFP Real Estate

Direct deal

Chelsea

New lease

30 30 32 33

450 Third Ave.

10,000 City Tap Kitchen

CBRE

Ashkenazy Acquisition Corp.

Compass

Murray Hill

New lease

320 W. 38th St.

10,000 Raosu Hotpot & Sushi

Direct deal

Glenwood Management Corp.

Direct deal

Penn Plaza/Garment

New lease

1227 Broadway

9,810 Salvaje

Newmark

Lam Group

Newmark

Chelsea

New lease

5 Times Square

9,655 Miniso

Cushman & Wakefield

RXR Realty; SL Green

Newmark

Times Square

New lease

Continued on page 24 22 | CRAIN’S NEW YORK BUSINESS | NOVEMBER 27, 2023

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THE LIST TOP MANHATTAN RETAIL LEASES BUILDING ADDRESS

SQUARE FEET TENANT

TENANT REPRESENTATIVE(S)

LANDLORD(S)

LANDLORD/SUBLANDLORD REPRESENTATIVE

NEIGHBORHOOD

DEAL TYPE

1534-1536 Second Ave.

9,530 Goldfish Swim School

Charter Realty & Development Corp.

Lester’s NYC Realty Partners

Newmark

Upper East Side

New lease

35 36 37 38 38

270 Madison Ave.

9,500 270 Market Place Inc.

PD Properties

ABS Partners Real Estate

Grand Central

New lease

277 Mott St.

9,349 Axel Springer

Newmark

277 Mott St.

Newmark

Soho

New lease

689 Fifth Ave.

9,328 Canada Goose

Lantern

Vornado Realty Trust

Direct deal

Plaza District

Renewal

156 Fifth Ave.

9,000 Madewell

Newmark

HRC Corp.

Newmark

Chelsea

New lease

75 Spring St.

9,000 J. Crew

Newmark

Greystone Management Corp.

Newmark

Soho

New lease

40 41 42 43 44

750 Seventh Ave.

8,907 SPiN New York

CBRE

Fosterlane Holdings

CBRE

Plaza District

New lease

515 Madison Ave.

8,340 Mark Ingram Atelier

Compass

GFP Real Estate

Newmark; GFP Real Estate

Plaza District

New lease

666 Broadway

8,204 YankeeKicks

Cushman & Wakefield

The Wings Group

Newmark

Greenwich Village

New lease

540 Broadway

8,000 Schutz

Judson CRE

Broadway Continental Corp.

Newmark

Soho

New lease

18 E. 41st St.

7,900 Gus Hadzic - Osteria del Bianco

PD Properties

Walter & Samuels Inc.

Winick Realty Group

Grand Central

New lease

513-531 W. 26th St.

7,815 National Academy of Design

Denham Wolf Real Estate Services Inc.

Lake Realty Management

Savills

Chelsea

New lease

46 47 48 49 50

680 Madison Ave.

7,697 Oscar De La Renta

Joel Isaacson & Co. Inc.

Thor Equities

Newmark

Plaza District

New lease

416 Eighth Ave.

7,500 Scores Sports Bar

Winick Realty Group

DLR Properties

Lee & Associates

Penn Plaza/Garment

New lease

16 E. 52nd St.

7,200 Stout

CBRE

Trigon Equities Corp.

Colliers

Plaza District

New lease

Penn 2

7,169 Sunday Hospitality

FOC Hospitality Group

Vornado Realty Trust

Direct deal

Times Square

New lease

600 Lexington Ave.

6,780 Marcus Evans Inc.

Newmark

Ruben Cos.

CBRE

Midtown East

New lease

SOURCE: CoStar Group with additional research by Amanda Glodowski. This list includes leases with terms of more than two years. In cases of ties, deals are listed with the same ranking number in alphanumeric order of address. CoStar Group conducts research to maintain a database of commercial real estate information. For more information, visit costar.com or call 800-204-5960.

SHOWCASE INDUSTRY LEADERS AND THEIR CAREERS RECOGNIZE TOP ACHIEVERS IN NEW YORK’S PREMIER PUBLICATION New Hires / Promotions / Board Appointments / Retirements / Special Acknowledgements

MAKE AN ANNOUNCEMENT Debora Stein / dstein@crain.com

CrainsNewYork.com/POTM

24 | CRAIN’S NEW YORK BUSINESS | November 27, 2023

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11/21/23 3:22 PM

Citi Bike service is unreliable in low-income neighborhoods, communities of color: comptroller report By Caroline Spivack

New York City Comptroller Brad Lander is calling on the Adams administration to overhaul its Citi Bike contract after a review of the service found that it is increasingly unreliable, particularly in lowincome neighborhoods and communities of color. A report the comptroller released Nov. 15 found that Lyft, the ride-hail company that took over Citi Bike in December 2018, has failed to ensure bikes are consistently available for riders as the system’s network of docks has grown. The report highlights neighborhoods on the edge of Citi Bike’s footprint that experience far more unusable stations, which disproportionately affects Black, Latino and low-income residents. Citi Bike stations in these areas — especially in Brooklyn’s Sunset Park, Flatbush and Crown Heights — were left empty or without available docks more often and for longer durations compared to other parts of the city, according to Lander’s office. “Citi Bike has grown to be a vital element of New York City’s transportation network, but Lyft’s failure to deliver reliable service across the system raises alarm bells,” Lander said in a statement.

hand-in-hand every day with our partners at DOT to ensure that Citi Bike can best meet the growing demands of all of our more than 1.5 million passionate riders.” Lyft announced plans earlier this month to double its fleet of electric Citi Bikes as well as pilot new charging infrastructure by the end of 2024. By the end of next year the fleet is expected to scale up to 40,000 bikes, including some 10,000 e-bikes, at 2,000

docking stations in an attempt to keep pace with demand, according to the company. DOT spokesman Vincent Barone said the agency wasn’t able to view the comptroller’s report in advance of its release, but that officials intend to with an eye toward making the bikeshare program more equitable. “Under the Adams administration, we are completing a major expansion of the system, bringing public bike share to lower-income

communities of color historically underserved by public transit across Queens, Brooklyn, and the Bronx,” Barone said. “We look forward to reviewing and exploring what is possible given the city’s fiscal challenges.”

A woman rides a Citi Bike in Manhattan. | BUCK ENNIS

Failure to enforce fines The bikeshare service has recently ballooned in popularity and become a staple of many New Yorkers’ commuting patterns. In 2022, users took 30 million trips on Citi Bike — five times as many as when the system rolled out in 2013. The comptroller’s analysis determined that Citi Bike users in the Bronx are 89% more likely to encounter disabled or broken bikes at stations, compared with the three other boroughs where Citi Bike operates. More troubling still, Lander said, is the city’s failure to enforce the performance standards in Lyft’s contract to run the system. City transit officials have the ability to levy fines against Citi Bike for failing to meet basic service requirements, but they often do not. From this past summer alone, rebalancing fines amounts to $812,000 in uncollected levies, according to the report. Lyft disputed several findings in the comptroller’s findings, including the charge that bike maintenance has decreased overall, and took issue with the report’s reliance on June and July 2023 figures instead of a more comprehensive dataset. “A larger service area and unprecedented ridership, all in the wake of a global pandemic and shifting commuter landscape, have brought new challenges that require creative solutions,” Lyft spokesman Jordan Levine said in a statement. “Reliability is our highest priority, and we work November 27, 2023 | CRAIN’S NEW YORK BUSINESS | 25

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NoHo building on former flea-market site takes retail landlord to court over unpaid fees, foreclosure action A NoHo spot once known for a popular flea market has found itself at the center of a dispute over a different kind of retailing. The site, at 688 Broadway near East Fourth Street, was for decades a narrow parking lot that regularly hosted a free-spirited outdoor thrift store with vintage blazers, beads and sunglasses. Shoppers often swung by after loading up on LPs at a Tower Records next door. In 2018 the property gave way to a luxury condo called 1 Great Jones Alley, whose 7,000-squarefoot storefront now offers a veterinary practice and a coffee shop. But the storefront’s owner—the developer of 1 Great Jones, a shell company led by the firm Madison Realty Capital—has allegedly failed to pay thousands of dollars in building fees. And 1 Great Jones’ condo board is now trying to wrest the space away from the developer so somebody else can take it over, according to a new lawsuit. “Plaintiff is entitled to foreclosure in connection with the unit and the appointment of a temporary receiver for the unit during the pendency of this proceeding,” says the suit, which the condo

board filed Nov. 15 in Manhattan’s Supreme Court. The developer, officially known as Downtown RE Holdings LLC, has not yet entered a legal response in the case. And a phone message left for Madison Realty co-founder Brian Shatz, who has signed property records associated with the condo in the past, was not returned by press time.

Other complaints But in an earlier legal battle at the same property between the developer and a next-door co-op over whether cars could use the shared alley, Shatz argued that Madison Realty should not be considered a party in the case because the developer is technically an LLC. The retail spat is the latest legal tussle at a building whose penthouse sold for $21 million. In September the board also went after the developer in court for construction defects “affecting nearly every facet of the building” and including plumbing systems, fire-proofing and amenities including a swimming pool. The board is seeking $20 million in that case, which names Shatz and Madison Realty’s other founder,

Joshua Zegen; the firm has not yet responded in court. But Madison Realty may have been aware of complaints about problems there for some time. In January Madison Realty sued BKSK Architects and other firms that helped design the condo for problems including leaks in the pool area, according to that suit. BKSK and the other defendant have denied all the charges. According to the latest case, Madison Realty and its partners owe $21,000 after not paying common charges for the three-level retail space since July. On Nov. 1 the board slapped a lien on the developer, and in line with the building’s bylaws, the board is now moving to force a sale of the space through foreclosure, it says. In some ways it appears to be an unusual time for the developer to be missing payments. The storefront’s tenants, an outpost of the chain Bond Vet and a small cafe from Blank Street Coffee, opened their businesses earlier this year, so rental income is presumably flowing. But for most of the storefront’s five-year existence, from the opening of 1 Great Jones in 2018 to 2023, the space has been vacant.

688 BROADWAY

COSTAR

By C. J. Hughes

And the larger legal cloud hanging over the building may explain the developer’s reluctance to pay. In 2018 Madison Realty and partners paid $8 million for 688 Broadway, records show, and then borrowed $38.4 million to develop their 16-unit project, which was to result in a haul of $110 million, according to the original offering plan. All the apartments have sold, according to the city register. The Tower Records site next door, at 692 Broadway, which is owned by Vornado Realty Trust, meanwhile, has also struggled

since the music store shuttered in 2006 after a 23-year run. In 2011 the multilevel space, which extends through to Lafayette Street, welcomed the baseball-themed MLB Fan Cave, though it closed after just four years. After that came Build Studio, a Verizon-backed space for live-streamed events. But it didn’t survive the pandemic. Leni Cummins and Scott Pashman, the Cozen O’Connor attorneys representing the condo board, declined to comment on ongoing litigation.

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MEET THE 2023 EMPIRE WHOLE HEALTH HEROES

ince 2020, Empire BlueCross BlueShield has been honoring leaders in New York and the metropolitan region who exemplify public service and professional devotion as they work to improve the financial, physical and mental health of their communities and workplaces. This year’s 25 honorees come from varied backgrounds in both the public and private sectors, reflecting prodigious professional accomplishments and a dedication to making a real difference in people’s wellbeing. They are being honored for their work in four categories: innovating a drug, medical treatment or new procedure relating to asthma, cancer, diabetes or heart health and making a difference in the screening, prevention and/or management of these diseases; establishing or implementing employee wellness strategies within their workplace to promote mental and overall health; advancing financial health within their community, or for the benefit of New York’s underserved communities; and

improving social health, by using their influence in their own organization and the broader community. A luncheon to celebrate this year’s Whole Health Heroes honorees will take place on Nov. 28 at Manhattan Penthouse. Frederick P. Gabriel, Publisher and Executive Editor of Crain’s New York Business and Victor DeStefano, President of Empire BlueCross BlueShield and Empire BlueCross, will participate in the event. The awards, now in their fourth year, were first established during the Covid-19 pandemic to honor leaders in the community who responded to the health crisis with courage and resourcefulness, and to emphasize Empire’s commitment to improving the whole health of its members and the community at large. The event has evolved over the past four years into an annual ceremony that highlights the remarkable accomplishments of business, nonprofit and medical professionals in

advancing the health of their communities. Enhancing and reinforcing its commitment to whole health, Empire BlueCross BlueShield will change its name to Anthem Blue Cross and Blue Shield on Jan. 1. “Our New York presence is not changing,” said Victor DeStefano, president of New York Commercial Business for Empire. “As we take on the Anthem name, it represents our continued journey to materially improve the health of our members and our communities.” Empire joined the Anthem family of health plans in 2006 but continued to use the Empire name. As Empire’s commercial, Medicaid and Medicare health plan transition to the Anthem name, the company is well prepared to ensure it is business as usual for their valued customers, partners and members, DeStefano added. Here are the 25 honorees of this year’s Empire Whole Health Heroes.

❚ JADE ALMENDRALA

❚ DAVINA ANGUS

❚ RICHARD E. BENNETT II

❚ TUESDAY BROOKS

❚ AUSTIN CHENG

Director of Respiratory Therapy; Program Director of Respiratory Therapy Residency Blythedale Children’s Hospital

Vice President of Programs, PENCIL

Cofounder and CEO, Epicured

Principal, AJOY

Chief Executive Officer, Gramercy Surgery Center

Davina Angus, a Bronx native and a first-generation, Jamaican-American college graduate, has dedicated her career to serving New York City’s children and families. Currently, she works as the vice president for programs at PENCIL, an education nonprofit. In this role, she works to connect over 9,000 NYC Schools students and 300 corporate partners to build the social health of our future leaders through college and career readiness programming. In addition to her experience at PENCIL, Davina has over 15 years of experience as a nonprofit executive leader, working with executive teams of public and nonprofit agencies, including The Massachusetts’ Eye & Ear Institute, New York Edge, the NYC Public Schools, and the American Camp Association. She specializes in strategic planning, program development, and financial management.

In 2016, Richard Bennett launched Epicured, a food as medicine company, in New York City to improve health care in the U.S. through nutrition. Starting with digestive disorders, Epicured used existing scientific research to develop a menu of chef-designed meals that could improve these conditions through diet. Seven years later, Epicured operates in 48 states and Puerto Rico, providing food for thousands of patients with a variety of diseases. Bennett has also mentored other entrepreneurs and hosted events with Mount Sinai Health System for healthcare entrepreneurs from underrepresented communities. Bennett has donated thousands of dollars in food and event space, as well as providing cooking classes, recipes, and cooking materials at no cost to support health and wellness initiatives.

Tuesday P. Brooks and her financial management firm AJOY are committed to advancing financial health in the community, particularly for the benefit of New York’s underserved communities. Brooks and her firm offer a constant, high-quality stream of free information on social media, as well as YouTube podlets that offer ways to improve financial wellness for individuals, solopreneurs and micro-enterprises in the women and women-of color community. The goal is to help them take control of their finances, reduce financial anxiety, and set them on the path to better health through money management and mental health. Brooks is devoted to constantly educating Harlem, the NYC small business community and any women-led small business seeking information and ways to understand and improve their financial situation.

Jade Almendrala, the Director of Respiratory Therapy at Blythedale Children’s Hospital, has made a significant impact on pediatric healthcare by creating New York State’s first pediatric respiratory therapy residency program. This innovative training program will greatly benefit medically complex children in the New York area by increasing access to respiratory therapists and making a difference in treating asthma, pediatric lung and heart health, and the social well-being of their families. With a shortage of respiratory therapists in the region, many children face challenges in receiving timely and appropriate care. By training and educating a new generation of respiratory therapists through the residency program Almendrala is addressing this issue head-on. This will result in improved access to respiratory therapy services, reducing wait times and ensuring that children receive the care they need when they need it.

Under Austin Cheng’s leadership, Gramercy Surgery Center has become the outpatient surgical facility of choice for approximately 200 independent New York-based surgeons through its focus on high-quality, low-cost surgical care. Since its inception in 2006, Gramercy Surgery Center has provided exceptional ambulatory surgery services to New Yorkers. Cheng has carried on this legacy of excellence, leading the Manhattan & Queens Centers to receive the Newsweek Best Ambulatory Surgery Centers Award four years in a row. As CEO, Cheng promotes the mental and physical well-being of nearly 100 nurses and other administrative support staff by providing his team with affordable healthcare and increased access to benefits. He has worked to expand access to quality healthcare coverage for New Yorkers by entering GSC into additional managed Medicaid programs and entering in-network with other payers.

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MEET THE 2023 EMPIRE WHOLE HEALTH HEROES

z LISA DAVID

z ALISSA DEAKIN

z DEBBIAN FLETCHER-BLAKE

z JASA

z KATY GAUL-STIGGE

President and CEO of Public Health Solutions

Chief Program officer, Little Flower Children and Family Services of New York

President/CEO of VIP Community Services

Nonprofit, Team Recognition

President & CEO at Goodwill Industries of Greater New York and Northern New Jersey

Exe + Ho

At Public Health Solutions, a nonprofit providing health and social care for underserved New Yorkers, Lisa David has taken the lead in addressing some of the city’s most pressing public health challenges. They include challenges to access to reproductive health care; the dismantling of the public safety net in the wake of Covid-19; and the care of migrants seeking asylum. Following the Dobbs decision by the U.S. Supreme Court, David has fought to ensure the continuation of PHS’s free and confidential sexual and reproductive healthcare services, including the expansion of medication abortion. Throughout Covid-19, she helped drive collaborations between community-based organizations to ensure that communities most impacted by Covid-19 had access to critical information and services. Those networks continue to work to provide services and information to the new migrants seeking asylum in the city. David also leads PHS’ efforts to protect and strengthen New York’s safety net as public health resources created during the peak of the pandemic are now being dismantled.

Alissa Deakin is responsible for promoting the health and well-being of New Yorkers engaged in programs and services offered by Little Flower Children and Family Services of New York and its affiliate, St. John’s Residence for Boys. Deakin serves hundreds of New York families, overseeing the delivery of high-quality, innovative foster care, juvenile justice, residential treatment care and services for adults with developmental disabilities. She also oversaw the launch of the new Family Enrichment Center in Bed Stuy, known as the Brooklyn NEST, and she guides the new Enhanced Family Foster Care program and Little Flower’s After Care Project, designed to support youth who are transitioning out of foster care to adulthood. To ensure the health, safety and emotional well-being of both Little Flower and St. John’s Staff, she coordinates the Diversity, Equity, Inclusion, and Belonging (DEIB) initiative.

Debbian Fletcher-Blake has devoted her professional life to serving as a clinician, administrator, and advocate for underserved, and under-represented communities. In her current role at VIP Community services, which provides health and social services in the Bronx, Fletcher-Blake has expanded partnerships with community and other stakeholders; re-engineered its’ medical, behavioral health and vocational programs; and spearheaded the implementation of an integrated electronic medical records system to improve efficiency and cost effectiveness of care. She has led efforts to raise awareness of infectious diseases/ illnesses such as Covid-19, influenza, HIV, and hepatitis C infections in high-risk populations. She also advocates and monitors for improved linkage-to-care strategies and health equity. Fletcher-Blake has been instrumental in stabilizing VIP Community Services financially and has streamlined and enhanced the revenue cycle functions, implementing technology to build efficient and improved outcomes.

JASA provides more than 20 lifesustaining services to over 40,000 older New Yorkers every year. As NYC’s largest nonprofit manager of affordable senior housing, it provides safe, clean, and accessible housing to more than 2,400 older adults across 4 boroughs. JASA also offers home-delivered meals, legal services, and mental health support for older adults, and runs 17 Older Adult Centers offering classes, meals, and community engagement. JASA’s wide range of interventions enables older adults to age with dignity. They include a formal partnership with Montefiore Medical Center to connect Alzheimer’s patients and caregivers to non-medical resources including support groups, housing, home care and home-delivered meals. JASA also developed an innovative transitional care program led by international medical graduates from over 10 countries, many of whom share culture and language with the clients.

Katy Gaul-Stigge leads one of the nation’s largest nonprofit organizations providing employment opportunities to support individuals with disabilities and other obstacles. She has helped to bring a 100-year-old social enterprise into the future by adapting an old thrift store model into the changing sustainable retail landscape. In 2022, New York and New Jersey Goodwill collected over 40 million pounds of donations. Sales from its thrift shops supported 4,139 people with disabilities with training and employment and provided job support training and retention services for 9,129 individuals. Gaul-Stigge, who earned her MSW in Policy at Columbia University’s Columbia School of Social Work, also serves as co-chair of the Future of Workers Task Force, established by New York City Mayor Eric Adams.

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z LESLIE GORDON

z SIDNEY HANKERSON, MD

z CESAR HERRERA

z JULIA IYASERE, MD

z MICHAEL JACOBS

President and Chief Executive Officer Food Bank For New York City

Associate Professor and Vice Chair of Community Engagement in the Department of Psychiatry at the Icahn School of Medicine, Mount Sinai

CEO and Co-founder, Yuvo Health

Senior Vice President, Health Justice and Equity; Executive Director, Dalio Center for Health Justice, NewYorkPresbyterian

Partner in Corner Table Restaurants

Assi Serv Initia Grea

For more than a decade, Leslie Gordon has led efforts to feed neighbors in need in New York City and the surrounding communities. At the height of the Covid-19 pandemic, she assumed the helm of Food Bank For New York City, one of the nation’s largest food banks and led it to double its annual output to almost 150 million pounds of food in less than 18 months. Before joining Food Bank For New York City, she was President and Chief Executive Officer of Feeding Westchester, Westchester County’s largest anti-hunger organization. Leslie was named to PoliticsNY Power Women of 2022; City & State’s 2023, 2022 & 2021 Nonprofit Power 100 leader and she was No. 52 in the publication’s 2023 Power of Diversity list, which recognizes leaders in the LGBTQ+ community.

Dr. Sidney Hankerson is a leading figure in revolutionizing mental health in New York City by reducing stigma and racial and ethnic disparities in mental health treatment. In 2021, New York City Mayor Bill DeBlasio appointed Dr. Hankerson as Chair of the Community Services Board of the New York City Department of Health and Mental Hygiene. As an associate professor and vice chair for Community Engagement at the Icahn School of Medicine at Mount Sinai, Dr. Hankerson nurtures emerging talent and encourages equity-driven education. Through his leadership, he wields influence over policies and programs to elevate mental health care in New York. In his role as director of Mental Health Equity Research, he actively advocates for a more inclusive and equitable mental health system.

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Cesar Herrera cofounded Yuvo Health to empower federally qualified health centers (FQHCs) in New York by giving them and their community partners a voice at the table with the health plans that pay them. These critical advocacy and support efforts have enabled FQHCs to gain the contracts, resources, and funding they need to serve their communities even more effectively. Herrera — who grew up underinsured and received care from FQHCs as a child — cofounded Yuvo Health at the height of the global Covid-19 pandemic. Despite limited resources and overwhelming challenges, New York’s community health centers (CHCs) became the epicenter of this crisis in New York, shouldering the responsibility of disseminating accurate information and vaccinating millions of New Yorkers. And through his work, Yuvo Health is able to secure sustainable revenue to these FQHCs, enabling them to meaningfully scale their mission to as many New Yorkers that need it. Yuvo Health secured an oversubscribed $20.2 million Series A funding, with major investors including the State of New York through Empire State Development.

Dr. Julia Iyasere brings more than a decade of experience in medicine to her leadership roles in health justice at NewYorkPresbyterian. As the executive director of the hospital’s Dalio Center for Health Justice which launched in October 2020, she strives to address the root causes of health inequities and to advocate for policy changes that will improve health outcomes. The Dalio Center, working with its academic partners Columbia University Vagelos College of Physicians and Surgeons and Weill Cornell Medicine, has expanded its Sickle Cell Program and its Crown Hair Care program, a unique patient hygiene initiative that provides hair care products to serve the health system’s diverse population. In 2022, Dalio Center was instrumental in the standardization and expansion of Social Determinants of Health screenings in NewYork-Presbyterian’s emergency departments and expanded the screenings to its inpatient in 2023.

Michael Jacobs plays a key role in all initiatives for Corner Table Restaurants, the New York-based management company for The Smith Restaurants. He has made three notable efforts to impact the wellness of New Yorkers: Providing access to health insurance—health, dental and vision—for their workers in the restaurant industry, which has some of the highest rates of uninsured workers; ensuring the health and wellness of their guests with strict procedures for handling allergens and enhancing the dining experience; improving the wellness of its community and the environment, through participating in programs such as the Billion Oyster Project to clean and restore oyster shells to build oyster reefs in New York Harbor.

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z NICOLE JORDAN-MARTIN

z NICK KATSORIS

z JOE LANDOLINA

z JENNIFER MIERES, MD

Executive director, CEO, NYC Health + Hospitals/Community Care

President and Founder, Loukoumi Make a Difference Foundation

Cofounder and CEO, Cresilon

Senior Vice President, Center for Equity of Health; Chief Diversity Officer, Northwell Health

Nicole Jordan-Martin oversees the delivery of clinical and supportive services to more than 18,000 patients annually, in their homes and other community-based settings. She is passionate about convening various actors across the community landscape to develop innovative partnerships for grass roots collective impact on the social determinants of health. She continues to develop and leverage collaboratives of healthcare, health plan and community-based organizations to comprehensively address health equity for Medicaid beneficiaries, uninsured individuals, undocumented immigrants, and other vulnerable groups, including those affected by homelessness, justice-involvement, HIV infection, serious mental illness, and alcohol and substance use. Jordan-Martin is also a strong proponent of advancing health and wellness in communities. She appears regularly as a panelist on a weekly internet radio talk show, The Reset, which focuses on a variety of current health, wellness, social justice, and political topics, and has a listenership exceeding 750,000.

Through his nine-book children’s series and the Loukoumi Make a Difference Foundation, Nick Katsoris has inspired over 130,000 children in 30 countries around the world to make a difference in their lives and the lives of others through projects and causes they are passionate about. The Loukoumi Foundation sponsors a treatment room at St. Jude Children’s Research Hospital and a Teaching Kitchen for the homeless at the Floating Hospital. It also developed curriculum at 300 schools, including three NYC public schools and the Variety Boys and Girls Club of Queens, with the help of celebrity contributors. In September, Katsoris launched a Loukoumi Foundation Good Deed Council of Schools in 10 cities worldwide, including three schools in New York, where students meet on Zoom to showcase their cultures and good deed projects, share ideas, inspire each other, and plan global good deed projects together.

z ANDDY PERDOMO

z RACHEL SONNER

z LISA A. VEGLIA

z DORELLA WALTERS

z MARC ZEMEL

Assistant Vice President of Veteran Services and Economic Empowerment Initiatives, Volunteers of AmericaGreater New York

People Partner at Veterinary Emergency Group

Chief Executive Officer QSAC Inc. Quality Services for the Autism Community,

Chief Business Development Officer, God’s Love We Deliver

CEO and co-founder, Retia Medical

Since 2013, Anddy Perdomo has overseen the Supportive Services for Veterans Families (SSVF) program at Volunteers of America-Greater New York, which provides rapid re-housing and homelessness prevention services to veterans and their loved ones. Her collective efforts across the disciplines of housing, healthcare, and workforce development have significantly improved the lives of thousands of veterans and individuals experiencing homelessness in New York City, including hundreds of recently arrived migrant families. Ms. Perdomo also oversees VOA-GNY’s women’s employment shelter in Queens and three family shelters for asylum seekers throughout New York City. She is the Chair of the Health and Human Services Committee of Bronx Community Board 3 and also serves on the Board of Directors for the BronxCare Health Integrated Service System (BLISS) Inc. and the Veteran Executive Task Force of the HUD Continuum of Care for NYC.

Rachel Sonner, who specializes in human resources, helps manage employees at Veterinary Emergency Group headquarters and at various hospitals across New York and Connecticut. The veterinary industry has some of the highest rates of mental health struggles, so it is a priority for the practice to care for employees’ mental health as well as their physical health. Sonner helps employees learn about all the services they can access, including mental health services, which fully cover access to a therapist. If they need to take a longer break, their short-term disability coverage also provides for mental health leaves. She appreciates that the veterinary practice recognizes that wellness goes beyond physical health and that pets provide an important role as stress relievers.

After creating a sustainable plant-based gel technology that stops traumatic bleeding in seconds, Joe Landolina launched his biotech startup, Cresilon, out of his dorm room at NYU when he was just 17. The Brooklyn native, now 30, runs a company that is a leading example of New York City’s efforts to create the jobs of the future and become a global leader in life sciences and biotech. Cresilon recently received its first FDA approval for human use of Landolina’s medical gel. Cresilon has also inked an R&D agreement with the U.S. Defense Department’s Walter Reed Army Institute of Research to study the technology for the treatment of traumatic brain injuries. The company grown to more than 60 employees working at a 25,000-square foot building, the only biomanufacturing facility of its kind in New York City.

Lisa A. Veglia, a recognized expert on autism services, leads efforts to serve children and adults on the autism spectrum throughout NYC and Long Island. She has been a leader and advocate in supporting and providing services for such individuals and their families for over 30 years. Veglia is also the Chairperson of the Queens Council on Developmental Disabilities, an organization which advocates for the rights of individuals with developmental disabilities. In July 2023, she led the development of a virtual conference on the Impact of Aging on the Intellectual/Developmental Disabilities community. Veglia currently serves as the President of the Board of Directors for the Interagency Council of Developmental Disabilities Agencies (IAC), which represents more than 150 member agencies serving more than 90,000 individuals with developmental disabilities.

Dr. Jennifer Mieres, a leading expert and patient advocate for both cardiovascular disease in women and for health equity/ diversity, oversees and provides guidance for Northwell’s diversity, equity, inclusion, and health equity strategies. Dr. Mieres and her team established Northwell’s Center for Equity of Care, which is the platform for addressing Health care disparities and advancing health equity . She and her team are working tirelessly to embed the tenets of health equity into the health care delivery model to ensure the highest quality care to all patients, regardless of race, ethnicity or cultural background, language proficiency, literacy, age, gender, gender identity, sexual orientation, religion, disability, or socioeconomic status. As a member of the Dean’s Advisory Group at the Zucker School of Medicine. Dr. Mieres was one of the original contributors to the start of the Hofstra University Pipeline Mentoring Program, a rigorous five-week academic course that exposes students from underserved backgrounds to various healthcare professions.

At God’s Love We Deliver, Dorella Walters supports the nonprofit’s delivery of more than 3.6 million, nutritious, medically tailored high-quality meals to more than 12,600 individuals affected by HIV/AIDS, cancer and other life-altering illnesses in New York City and its surrounding counties. She has focused on identifying historically marginalized clients in underserved areas, steering her team’s efforts through a diversity, equity, inclusion, and accessibility initiative to ensure client needs are being addressed equitably. Dorella is responsible for reaching more than 7,000 new clients a year and for helping her organization prospect and navigate new business opportunities and maintain community relationships. Currently, Dorella is responsible for directing more than 30 healthcare partnerships that include insurance plans, hospitals, accountable care organizations, and other communitybased agencies.

z KEVIN G. MUNJAL, MD Chief Medical Officer, Care2U As an emergency medicine physician, Dr. Munjal has been on the front lines of the healthcare system for nearly 20 years, witnessing first-hand the challenges that patients face accessing the care they need when facing new or acute symptoms. At Care 2U, a digital health company, Dr. Munjal leads efforts to provide high acuity healthcare services in the home, generating improved health outcomes at a fraction of the cost of a traditional inpatient stay. Founded in January 2022, the company has rapidly grown to serve patients throughout NYC, Long Island and Westchester with further expansion on the horizon in 2024. Prior to joining Care2U, Dr. Munjal was the director of Acute Unscheduled Care for Mount Sinai’s population health arm and the founder of Mount Sinai’s Community Paramedicine program. In 2020, Munjal received the Nicholas Rosecrans Award by EMS World and the California Paramedic Foundation.

Marc Zemel, a serial medical device entrepreneur and executive, cofounded Retia Medical to develop advanced algorithms for guiding cardiovascular care. Retia focuses on high-risk surgical and critically ill patients. In 2021, Retia was selected to Medtech Innovator, the industry-sponsored startup competition, from more than 1,200 applicants and was a finalist in the Value Competition. Zemel has raised over $45,000,000 in investor and non-dilutive capital in his career, led over 12 clinical studies, taken products through FDA clearance and CE Mark, the approval process in the EU. He continues to lead his growing company as it ramps sales. Prior to founding Retia, Marc worked at Becton Dickinson & Co. where he led business development, product concept development and technical due diligence activities for the company’s Anesthesia and Infusion businesses.

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BASEMENT From Page 1

dwelling units, or ADUs — and they house up to 400,000 people, according to the city comptroller’s office and grassroots groups, though there’s no official tally. (Counting apartments that landlords are trying to hide is notoriously difficult.) Large chunks of the outer boroughs are made up of precisely the kinds of one- and two-family subterranean dwellings Adams is targeting for the extra apartments, so the possibility for growth seems strong. Besides, they are cheap by city standards, with rents around $1,500 a month, according to a Queens Zillow search, versus a Manhattan median of $4,200 . But not everybody is thrilled. Some residents of suburban single-family enclaves loathe the idea of adding more residents, worrying that they will strain the local economy, subways and schools. And even urban planners who support ADUs say allowing them won’t be worth much without also creating a system of grants or lowcost loans to underwrite tricky and expensive conversions, like adding a second way out in case of danger, which is code in New York. And if the units, often nicknamed “granny flats” and “mother-in-law apartments,” as they are often reserved only for family members, are not made available to the general public, others add, the housing shortage may not really ease. Still, creating housing for lowerincome New Yorkers while at the same time generating a new revenue stream for small-property owners makes the ADU that rare housing initiative to potentially have both tenants’ and landlords’ support, advocates say. “There are not many housing policies like that, but this is one of them,” said Sadia Rahman, the deputy director of Chhaya Community Development Corp., a Queens-based nonprofit and leader of the pro-ADU charge. “We know these are where immigrants land when they come to this city, so we’re focused on making them safe and healthy and affordable.”

Under the radar ADUs turn up in droves in communities with many immigrants and people of color, according to a 2021 Pratt Center for Community Development report authored in response to Hurricane Ida. They are heavily concentrated in places including Washington Heights in Manhattan; Crown Heights, Canarsie and East New York in Brooklyn; and East Elmhurst, Jackson Heights and Fresh Meadows in Queens, the report found. But an extra electric meter on an exterior wall or second mailbox next to a door can be the only indication of their presence. Shivprasad, for his part, says that almost all of the 40 or so houses on his Hollis block have a basement unit. “And many of them seem like they’ve been there for decades,” he said. Where there are ADUs in Queens and Brooklyn, they are often located in basements or in cellars, which

A flooded basement in Queens after Hurricane Ida in 2021 | GETTY IMAGES

are deeper in the ground. But in the Bronx, ADUs are often tucked into attics or above garages, housing experts say. They also turn up in Manhattan in converted boiler rooms. What makes them illegal in many cases is that they don’t have two ways to get in and out, a violation of the state’s Multiple Dwelling Law. Typical apartments have both a door and at least one window, but many of the below-grade ADUs have only tiny, high-up-on-thewall windows that nobody could ever squeeze through in case of a fire or flood. And some don’t even have those, such as a Queens Village one-bedroom that turned up in a Zillow search in late November for $1,200 a month. As per its secretive nature, the apartment also did not include a specific address; neither did one-bedrooms in Ozone Park ($1,350 a month), Flushing ($1,425) and Bellerose ($1,400). Though so far short on details, Adams’ proposal, unveiled in September as part of the sweeping City of Yes housing plan, would legalize an ADU of up to 800 square feet on one- and two-family properties, a move that could provide “space for multigenerational families, health aides or local workers.” Along with orchestrating zoning changes, Adams could waive the requirement that any new dwelling, which even existing ADUs would be considered when they legally enter the market, offer options for off-street parking, such as in a garage or driveway, easing burdens on stressed neighborhoods. But state officials would have to green-light any changes to the Multiple Dwelling Law. “There’s a real path forward here,” said Manhattan Assemblyman Harvey Epstein, who first proposed statewide ADU legislation in 2022 and fine-tuned it again this year to make it more specific to New York City. Lawmakers are expected to take it up again next session. But interest in Albany can seem

tepid. Gov. Kathy Hochul also sought to leverage ADUs to help hit a goal of 800,000 new homes in the state over the next decade. But that housing plan collapsed last spring after opposition from suburban lawmakers. “In a tight housing market, it’s more important than ever to have units available at a lower price threshold,” Epstein said.

Though lawmakers have twice now failed to legalize ADUs in the state budget, they did in 2022 establish the Plus One ADU Program, an $85 million statewide effort to help underwrite the cost of renovating ADUs to bring them up to code with new windows and doors, for example. Since last year the state’s Division of Housing and Community Renewal has distributed $23 million in grants of up to $125,000, inSome progress cluding $2.6 million set aside for Among the first attempts to un- fixing up 15 ADUs citywide. Under derstand how ADUs fit into the the mayor’s plan, this will be comcity’s housing matrix was a 2008 bined with a city subsidy and disstudy by Pratt. It looked at discrep- persed in awards of up to $395,000 ancies between U.S. Census figures each. Homeowners could begin and Department of Buildings data applying for the 15 awards, a mix of to conclude that New York was grant and low-interest-loan monhome to a hefty 114,000 ADUs that ey, this month. “The governor will continue to housed up to a half-million people. Pratt has scaled back its esti- work with the Legislature on solumates since then, owing to build- tions to make the state more affording booms that have altered the able and more livable for all New housing stock in many areas. Still, Yorkers,” a division spokeswoman the research seemed to help build said in a statement. But the same suburbanites who momentum for legalization, partictanked Hochul’s housing goals ularly to give tenants more rights. appear just as opposed to the ADU component. Boosting the density of single-family-home-rich areas by what could be 400% to address a problem that’s citywide is unfair, argues Paul Graziano, founder of the two-year-old grassroots — Sadia Rahman, the deputy director of Chhaya Community group SAVE 1-Family Development Corp. and a leader of the pro-ADU charge Zoning New York, which locally represents more A result in 2019 was a $6 million, than 100 block, homeowner and three-year city pilot program fo- civic associations in Queens, Brookcused on East New York that creat- lyn and the Bronx. “Adams’ plan will literally blow ed the first-ever pathway to legalization. About 900 homeowners up communities,” said Graziano, applied for a loan to help increase an urban planner and the principal their window sizes and similar up- of Associated Cultural Resource grades to bring their ADUs up to Consultants who is also a lifelong code. But off-street parking re- Flushing resident. “This, in my quirements doomed about half opinion, is an unserious proposal.” In a letter Graziano submitted in that group, Epstein said. And mandates for sprinklers and roof access November to the Department of were other major hindrances, he City Planning, he added that “there is no question that this proposal is added.

“We know these are where immigrants land when they come to this city, so we’re focused on making them safe and healthy and affordable.”

an undisguised attempt at deregulation of our land-use laws, with very serious consequences should it occur.”

Bigger picture New York might be late to the ADU party. Former Chicago Mayor Lori Lightfoot in December 2020 passed legislation so homeowners in five regions in the city could participate in a pilot program to allow for the lawful construction of ADUs. But the changes have so far not alleviated the housing crisis there because the market for loans for these types of projects is small, said Swasti Shah, a director at the nonprofit Urban Land Institute, which supported the law. “Cities that want to double down on affordability need to pair [ADU legislation] with extra support,” Shah said. Similar legislation to legalize unpermitted units in San Francisco and Seattle has unleashed a wave of ADU construction. But an effort in Los Angeles has merely brought illegal homes out of the shadows without really increasing supply because turnover has been rare, said Karen Chapple, a University of Toronto professor who has studied accessory dwelling legislation for decades. “New ADUs used for extra personal space could actually increase the price of housing,” Chapple said. Still, even if the changes don’t generate tons of supply, they might put an end to a housing black market where tenants lack basic rights, said Assemblywoman Jessica Gonzalez-Rojas, who represents East Elmhurst and nearby areas. Opponents in her district often fight the concept out of an antimigrant stance, Gonzalez-Rojas said. But that ignores reality: ADUs continue to house tens of thousands of New Yorkers in the here and now. “People are already living in them,” she said, “so we need to make sure their conditions are safe.”

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PUBLIC & LEGAL NOTICES Notice of Formation of 204 FORSYTH HOLDINGS LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 10/16/23. Office location: NY County. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to c/o Corporation Service Co., 80 State St., Albany, NY 12207, regd. agent upon whom and at which process may be served. Purpose: Any lawful activity.

Notice of Formation of WORLDS GREATEST ENTERTAINMENT LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 10/6/23. Office location: NY County. Princ. office of LLC: 228 PARK AVE S #340569, NEW YORK, NY 10003. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to the LLC at the addr. of its princ office. Purpose: Any lawful activity

Notice of Qualification of PALISADE CAPITAL MANAGEMENT, LP Appl. for Auth. filed with Secy. of State of NY (SSNY) on 10/17/23. Office location: NY County. LP formed in Delaware (DE) on 02/08/23. NYS fictitious name: PALISADE CAPITAL MANAGEMENT, L.P. Duration of LP is Perpetual. SSNY designated as agent of LP upon whom process against it may be served. SSNY shall mail process to 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: c/o CSC, 251 Little Falls Dr., Wilmington, DE 19808. Cert. of LP filed with Secy. of State, 820 N. French St., 10th Fl., Wilmington, DE 19801. Purpose: Any lawful activity.

Notice of Qualification of RUNNER MUSIC GROUP LLC Appl. for Auth. filed with Secy. of State of NY (SSNY) on 10/11/23. Office location: NY County. LLC formed in Delaware (DE) on 08/16/22. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to Corporation Service Co., 80 State St., Albany, NY 12207-2543. DE addr. of LLC: 200 Bellevue Pkwy., Ste. 210, Wilmington, DE 19809. Cert. of Form. filed with Secy. of State, John G. Townsend Bldg., 401 Federal St., Ste. 4, Dover, DE 19901. Purpose: Any lawful activity

Notice of Formation of CAST LEGAL STUDIO PLLC Arts of Org filed with Secy. of State of NY (SSNY) on 8/29/2023. Office Location: NY County. SSNY designated as agent upon whom process may be served and shall mail copy of process against to 418 BROADWAY, STE N, ALBANY, NY 12207. Purpose: any lawful act

Notice of Qualification of DLJ BUILDING CO 60 LLC Appl. for Auth. filed with Secy. of State of NY (SSNY) on 11/03/23. Office location: NY County. LLC formed in Delaware (DE) on 08/03/23. Princ. office of LLC: c/o DLJ RECP Management, L.P., 1123 Broadway, 2nd Fl., NY, NY 10010. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to the LLC at the princ. office of the LLC. DE addr. of LLC: c/o Corporation Service Co., 251 Little Falls Dr., Wilmington, DE 19808. Cert. of Form. filed with DE Secy. of State, Div. of Corps., John G. Townsend Bldg., 401 Federal St. - Ste 4., Dover, DE 19901. Purpose: Any lawful activity.

Notice of Formation of SPECIAL WICKAPOGUE LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 11/03/23. Office location: NY County. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to c/o Barnes & Thornburg LLP, 390 Madison Ave., 12 Fl., NY, NY 10017-2509. Purpose: Any lawful activity

Notice of Formation of KINDERBROOK HOME LLC Arts. of Org. filed with Secy of State of NY (SSNY) on 10/11/23. Office: NY 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, 80 State St., Albany, NY 12207. Purpose: Any lawful purpose.

Notice of Formation of SUTTON GROWTH ADVISORS LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 10/12/23. Office location: NY County. Princ. office of LLC: 20 Sutton Pl S, Apt. 20C, NY, NY 10022. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to Andrew J. Byrne at the princ. office of the LLC. Purpose: Any lawful activity

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NOTIFICATION OF PUBLIC DISPOSITION OF COLLATERAL PLEASE TAKE NOTICE THAT, for default in payment of a debt and performance of obligations owed by Nicole Gallagher (“Pledgor”) to Churchill Funding I LLC (“Secured Party”), pursuant to Section 9-610 of the Uniform Commercial Code, at 1:00 p.m. (prevailing Eastern Time), on December 14, 2023, at the law offices of Polsinelli PC, 600 Third Avenue, 42nd Floor, New York, NY 10016 and offered virtually via online video conference, Secured Party shall cause the following property to be sold by public auction to the heist qualified bidder: 100% of the membership interests in 2524 Noyack Road, LLC, which is the owner of certain real property located at 2524 Noyack Road, Sag Harbor, New York 11963. The membership interests are being offered as a single lot on an “as-is, where-is” basis with no express or implied warranties, representations, statements or conditions of any kind made by Secured Party or any person acting for or on behalf of Secured Party, without any recourse whatsoever to Secured Party or any other person acting for or on behalf of Secured Party. Secured Party reserves the right to reject all bids and terminate or adjourn the sale to another time or place or effectuate a private sale instead of a public sale, without further publication, and further reserves the right to bid for the Collateral at the sale and to credit bid by applying some or all of its secured debt to the purchase price. Interested parties who would like additional information concerning the items to be sold at the sale and the terms and conditions of the sale, including the eligibility requirements to be a qualified bidder, should contact Amy E. Hatch, Polsinelli PC, 600 Third Avenue, 42nd Floor, New York, NY 10016; Tel.: (816) 753-1000; Fax: (816) 753-1536; ahatch@polsinelli.com.

Notice of Formation of KIERAN ANDREW BOTH, ATTORNEY AT LAW PLLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 10/06/23. Office location: NY County. Princ. office of LLC: 225 BROADWAY, SUITE 2018, NEW YORK, NY 10007-3739. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to the LLC at the addr. of its princ. office. Purpose: Any lawful activity.

Notice of Qualification of EGMF GP LP Appl. for Auth. filed with Secy. of State of NY (SSNY) on 10/16/23. Office location: NY County. LP formed in Delaware (DE) on 03/11/14. Princ. office of LP: 230 Park Ave., 8th Fl., NY, NY 10169. NYS fictitious name: EGMF GP L.P. Duration of LP is Perpetual. SSNY designated as agent of LP upon whom process against it may be served. SSNY shall mail process to 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, State of DE, Dept. of State, Townsend Bldg., 401 Federal St., Dover, DE 19901. Purpose: Any lawful activity.

Notice of Formation of BOUNDLESS IMAGINATIONS, LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 10/11/23. Office location: NY County. Princ. office of LLC: 400 E. 90th St., 12D, NY, NY 10128. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to the LLC at the addr. of its princ. office. Purpose: Film production.

AUCTION

BANKRUPTCY SALE

Notice of Formation of GARANCE - DOULA SERVICES LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 10/23/23. Office location: NY County. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to THE LIMITED LIABILITY COMPANY, 11 STUYVESANT OVAL, APT 4E NEW YORK, NY 10009 regd.agent upon whom and at which process may be served. Purpose: Any lawful activity.

62-UNIT RESID QUEENS APT BLDG

AUCTION: Fri Dec 1 2023 @ 11:00am. Online: Via Zoom. Bid Deadline: Wed Nov 29, 2023 @ 11:00am. Opening Bid: $5,827,000 Req Dep: $500K. 4% Buyer’s Premium PROPERTY Lot Size: 16,000 Sq Ft. Total Bldg Area: 55,300 Sq Ft. NOI: $600,000 / year, Elevator, Fully Occupied. 16-Car Garage, Built 1964

CONTACT Please contact MYC for Terms & Condition of Sale & additional info PHONE

(347) 273-1258 SITE

www.myccorp.com All information provided by MYC & Associates, Inc. is from public documents or third-party sources, is not guaranteed and should be independently verified. The information is subject to errors and omissions. The subject real property may be sold or withdrawn from the market without notice. MYC & Associates, Inc. does not represent or warrant the accuracy, authenticity, or completeness of any information and is not liable for any reliance thereon.

POSITIONS AVAILABLE Business Associate (Citadel Americas Services LLC – New York, NY); Mult. pos. avail. Job duties incl. Interpr., eval., & interrel. analytics & dvlp. integrated bus. analyses for incorporation into strat. decis.-making for mgmt. Partner w/ Invest. Anlsts., Pfl. Mngrs., Prod. Mngrs., & Dvlprs. to design & impl. innovtv. tools that enhance the invest. process, pfl. constr., & risk mgmt., for the sctr. invest. teams. F/T. Salary range $120,000 – $160,000/yr. For compl. dets. or to apply, send resume to: citadelrecruitment@citadel.com, ref. JobID: 7236592.

Quantitative Developer (Citadel Americas Services LLC – New York, NY); Mult. pos. avail. Job duties incl. dsgn., dev., & deploy sftwr. sol. to establish rsrch. processes, gen. signals for alpha generation, & execute syst. & non-syst. trading w/in the Global Fixed Inc fund. Build auto ETL pipelines to fac. transition from rsrch. pathways to a live trading envr. F/T. Salary range $250,000 to $270,000/yr. For complete details or to apply, send resume to: citadelrecruitment@citadel.com, ref JobID: 7080746.

REQUEST FOR PROPOSAL The New York Racing Association, Inc. (“NYRA”) is inviting qualified bidders to submit proposals for the redevelopment of Belmont Park, located in Elmont, NY. The Successful Bidder will provide (i) full-scope preconstruction services (and certain early construction work) and (ii) administer, manage, supervise, direct, and coordinate, through its subcontractors or forces; all work labor, materials, equipment, tools, and general conditions required for the complete construction of the Project (the “Full Project CM Services”). Interested parties should request the RFP at BelmontRedevelopmentBids@nyrainc.com.

PUBLIC & LEGAL NOTICES SHE SHED PRODUCTIONS, LLC. Arts. of Org. filed with the SSNY on 06/05/23. 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 Chapman Consulting, 770 Lexington Avenue, 11th Floor, New York, NY 10065. Purpose: Any lawful purpose.

PROFESSIONAL LIMITED LIABILITY COMPANY Notice of Formation of Foreign Professional Limited Liability Company (PLLC) Name: Soho Integrative Psychological Services PLLC Application for Authority filed by the Department of State of New York on: 07/21/2023 Jurisdiction: Florida Organized on: 01/11/2023 Office location: County of New York Purpose: Psychology Secretary of State of New York (SSNY) is designated as agent of PLLC upon whom process against it may be served. SSNY shall mail a copy of process to: The PLLC, 325 22nd Avenue NE, Saint Petersburg, FL. 33704

Notice of Formation of 1314 CAFE LLC Arts of Org filed with Secy. of State of NY (SSNY) on 6/27/2022. Office Location: NY County. SSNY designated as agent upon whom process may be served and shall mail copy of process against to 1314 1st Avenue NY, NY 10021. Purpose: any lawful act

Notice of Qualification of DLJ BUILDING CO 70 LLC Appl. for Auth. filed with Secy. of State of NY (SSNY) on 11/03/23. Office location: NY County. LLC formed in Delaware (DE) on 11/02/23. Princ. office of LLC: c/o DLJ RECP Management, L.P., 1123 Broadway, 2nd Fl., NY, NY 10010. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to the LLC at the princ. office of the LLC. DE addr. of LLC: c/o Corporation Service Co., 251 Little Falls Dr., Wilmington, DE 19808. Cert. of Form. filed with DE Secy. of State, Div. of Corps., John G. Townsend Bldg., 401 Federal St. - Ste. 4, Dover, DE 19901. Purpose: Any lawful activity

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Lawsuit triggers an electric taxi license free-for-all By Caroline Spivack

A lawsuit seeking to prevent a flood of new rideshare licenses for electric vehicles ironically triggered a surge of applications ahead of a court-ordered pause, according to new city data. Acting New York Supreme Court Justice J. Machelle Sweeting issued the order on Nov. 8, in response to a lawsuit filed by the New York Taxi Workers Alliance. Sweeting gave drivers, some who purchased EVs in anticipation of the licenses, until 9 a.m. Nov. 13 to file their paperwork with the city. At the time of Sweeting’s ruling, the Taxi and Limousine Commission had received 1,746 applications for the EV permits, which the city opened to all applicants in October. By the morning of Nov. 13, the figure had ballooned to 9,638, according to preliminary agency data shared with Crain’s. TLC Commissioner David Do had previously urged drivers to take their time to figure out how to finance and charge their electric vehicles ahead of applying. In a Nov. 14 statement, Do panned the lawsuit for forcing frantic drivers to accelerate their plans. “We received a surge of applications for EV licenses in a short period of time, as drivers suddenly

felt forced to buy EVs in order to meet the court’s deadline or lose their chance to own a plate,” Do said. “We will be doing everything we can to support these new small business owners as they go electric.”

Opening the floodgates While the TLC can no longer accept new EV applications, agency officials can process the applications they have received. That process is expected to unfold over several months as applicants undergo a series of inspections; TLC officials only have the capacity to inspect some 60 cars a day, according to the agency. The Adams administration lifted the cap on EV-restricted licenses to push the industry toward a zero-emission mandate by 2030. To do so, taxi officials have laid out annual targets to gradually convert the city’s rideshare fleet. The TLC had planned for roughly 5% of the city’s 78,000 rideshare vehicles — about 3,900 fourwheelers — to convert to electric by 2024. Some 2,200 e-hail rides on the road are already electric. If taxi officials approve the bulk of the more than 9,600 applications they’ve received, it would put the agency well over the benchmark staffers had intended for next year.

In other words, an influx of electric taxis could be on the city’s streets in the coming months without the charging infrastructure in place to support them. Driver and transportation advocates find this troubling, and have questioned lifting the cap on licenses. The Taxi Workers Alliance argues that opening the floodgates to an unlimited number of rideshare permits could clog the city’s streets and reduce driver income with an oversaturated market. It’s unclear how many of the 9,638 applications represent potentially new vehicles on the road; some will be from drivers swapping out existing gas-powered rides for electric ones. The TLC said it is still sifting through the data, but believes the “majority” of applications are drivers seeking to replace their existing gas-powered four-wheelers. That lack of clarity is precisely why the TLC should have conducted an environmental review before it lifted the rideshare cap in October, said traffic engineer and former city traffic commissioner Sam Schwartz. “It doesn’t make sense to move forward without doing a comprehensive study, to look at the impacts, and see if they can be mitigated,” Schwartz told Crain’s. “That’s the normal way of doing

Permitting a hypothetical 5,000 new rideshare vehicles could increase congestion, contribute to pollution and lead to more traffic crashes, he wrote, adding that even a couple thousand of new cars circulating busy corridors for fares could have an A curbside electric vehicle charger plugged into a car in Manhattan. impact. | BLOOMBERG “The big things,” Schwartz added. “I don’t point is that the combustion vehiknow why they jumped the gun cles, which is the vast majority of here. Even if they had the best of in- vehicles in the city, are going to be tentions, it’s not the way major stuck in more stop-and-go traffic transportation policy should go and they’re going to emit more particulates and more CO2,” forward.” Transit advocates noted that the Komanoff said in an interview. The burden of proof, he added, city failed to consult the industry and shared little with the public should be on the TLC to show that about the potential effects on driv- the bulk of the roughly 9,600 applications are merely replacing er pay and gridlock. Charles Komanoff, a transporta- cars already on the road. “The minute that I saw that antion policy analyst who filed an affidavit in support of the Taxi nouncement it hit me that, my Workers’ lawsuit, said it’s possible goodness, this is not a swap,” that thousands of new cars could Komanoff added. “This will be an increase.” be added to the city’s streets.

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BUSINESS SPOTLIGHT

CrainsNewYork.com President and CEO KC Crain Group publisher Jim Kirk (312) 397-5503 or jkirk@crain.com Publisher/executive editor Frederick P. Gabriel Jr. Editor-in-chief Cory Schouten, cory.schouten@crainsnewyork.com Managing editor Telisha Bryan Assistant managing editors Anne Michaud, Amanda Glodowski Director of audience and engagement Elizabeth Couch Audience engagement editor Jennifer Samuels Digital editor Taylor Nakagawa Opinions: opinion@crainsnewyork.com Creative director Thomas J. Linden Associate creative director Karen Freese Zane Digital design editor Jason McGregor Art directors Kayla Byler, Carolyn McClain, Joanna Metzger Senior digital news designer Stephanie Swearngin Photographer Buck Ennis Notables coordinator Ashley Maahs SENIOR REPORTERS Aaron Elstein, C.J. Hughes, Eddie Small REPORTERS Amanda D’Ambrosio, Nick Garber, Mario Marroquin, Jacqueline Neber, Caroline Spivack CONTACT THE NEWSROOM editors@crainsnewyork.com www.crainsnewyork.com/staff

Ralph Esposito, left, is president of the Northeast and mid-Atlantic regions for Suffolk Construction. The firm’s work on 1 High Line, formerly known as the XI, has sharply elevated its profile in New York. Suffolk hired Aeron Doron as vice president of operations in August to help ramp up its work on government projects. | BJARKE INGELS GROUP

This Boston-based construction firm is betting big on New York Suffolk’s projects at the Waldorf-Astoria and 1 High Line have given its presence in the city a major boost | By Eddie Small

uffolk Construction has long been synonymous with Boston, New York’s occasional rival to the north. But in recent years, the development giant has been working to increase its footprint in the five boroughs as well. “New York is the capital of the construction world,” said Ralph Esposito, president of the Northeast and mid-Atlantic regions for Suffolk. “Having a big presence in New York validates the company’s existence in many respects. The whole world looks at the New York City skyline.” The development giant first established itself in the city about six years ago, but a pair of recent

formerly troubled project known as the XI from embattled developer HFZ.

Public-sector projects

The Witkoff Group and Access Industries announced in late 2021 that they would take over at the XI, where construction had stalled out amid a sea of lawsuits centered on accusations of millions in unpaid bills. Suffolk has enjoyed a long relationship with Witkoff and quickly joined the development team for the project, where long-awaited move-ins recently started. The toughest parts of getting the luxury residential and hotel building back on track were figuring out what materials were still needed and convincing the subcontractors that the new team was serious about — Ralph Esposito, president of Suffolk Construction’s finishing the longNortheast and mid-Atlantic regions delayed project, Esposito says. “We had invested a significant high-profile projects have turbocharged its presence: renova- amount of time walking the job, tions and condo conversions at helping [Witkoff ] understand the famed Waldorf-Astoria and what the path was to completion construction at 1 High Line, the in terms of time and money,” he

“We’re cautiously optimistic on the fact that there will be a lot of work. You can’t keep New York down for very long.”

said. “We don’t shy away from difficult stuff.” Suffolk is not just focused on expanding in New York through work on luxury Manhattan properties. The firm is looking to do more with public sector projects as well and is currently wrapping up work on renovations at the Jamaica Armory for the state’s Office of General Services. “The public sector tends to be more stable and ride out economic downturns,” said Aeron Doron, whom Suffolk hired as vice president of operations in August to help ramp up its work on government projects. “The pandemic actually was quite a bit of an exception to that rule, where a lot of public money got diverted from public projects to some of the more pressing needs of the city, but aside from that, in my 22plus year career, the public sector has remained pretty stable.” The overall environment for construction projects is still a challenging one thanks to factors including high interest rates and the city’s glut of office space, which has made Suffolk wary of taking on any new office projects that are not being built for a specific company, Esposito says. However, the company still expects to see sever-

FOCAL POINTS COMPANY NAME Suffolk Construction FOUNDED Chairman and CEO John Fish founded the company in Boston in 1982. FULL-TIME EMPLOYEES The firm has 250 full-time workers in New York. REVENUE Suffolk took in $5 billion in revenue in 2022. PROJECTS The firm is currently working on 20 projects in New York, including the Jamaica Armory, the Waldorf-Astoria and a Downtown Brooklyn residential building called The Brook. ACROSS THE COUNTRY Suffolk is extremely active on the East and West coasts of Florida and is focused on Los Angeles, San Francisco and Dallas, in addition to its Boston and New York strongholds.

al construction opportunities in sectors such as health care and schools, and it remains bullish on the city in general. “We’re cautiously optimistic on the fact that there will be a lot of work,” Esposito said. “You can’t keep New York down for very long.”

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NOVEMBER 27, 2023 | CRAIN’S NEW YORK BUSINESS | 35

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Crain's New York Business is looking to recognize influential women and workplaces that are inspiring change in New York City.

Nominate by January 12 CrainsNewYork.com/WomenOfInfluence

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