ASKED & ANSWERED City College prez on keeping education affordable PAGE 5
CRAINSNEWYORK.COM
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IN THE MARKETS What do the steep drops in loan deferrals mean for banks? PAGE 6
SEPTEMBER 28, 2020
HEALTH CARE
STAFFING STANDOFF The pandemic has added new fuel to the debate over how many patients nurses should care for each shift BY JENNIFER HENDERSON
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at Kane, executive director of the New York State Nurses Association, has seen the pandemic intensify the decades-long fight over adequate nurse staffing. Before Covid-19 struck, the Midtown South–based union of more than 42,000 frontline nurses focused on safe-staffing ratios as a top See NURSES on page 12
DAVE SANDERS
MEMBERS OF the New York State Nurses Association rally for adequate staffing in labor and nursery wards.
REAL ESTATE
Industry City collapse sparks questions about future of local development Some were surprised by the demise of the rezoning plan; others see an opportunity to regroup
NEWSPAPER
VOL. 36, NO. 32
BY EDDIE SMALL
I
n July Industry City CEO Andrew Kimball was ready to withdraw the rezoning application for his long-awaited Sunset Park project almost as soon as local Councilman
© 2020 CRAIN COMMUNICATIONS INC.
Cornegy and Donovan Richards said the economic benefits of the project compelled the city to move forward with it. The City Planning Commission gave the rezoning a major See COLLAPSE on page 7
OUT OF OFFICE
HEARTY COMFORT FOOD TO WARM YOU UP THIS AUTUMN PAGE 35
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Carlos Menchaca announced his opposition to it. However, he quickly received some unexpected good news. Rather than deferring to Menchaca’s opposition, which has been the tradition in the Council, Councilmen Ritchie Torres, Robert
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POLITICS
Johnson drops out of mayoral race Council speaker cites struggle with depression as a factor BY GWEN EVERETT
C
ity Council Speaker Corey Johnson has dropped out of the race to be New York’s next mayor, citing his battle with depression. “I have made the difficult decision not to run,” Johnson said in a statement last Thursday. “This challenging time has led me to rethink how I can best be of service to this city, and I have come to the conclusion that this is not the right path for me.” The speaker, who had suspended his campaign for the past six months, was once seen as a leading
dealing with some personal challenges over the past few months, namely depression,” he said. “I am sharing this because I know from experience the value of speaking honestly about one’s struggles.” “I wasn’t surprised,” said Lupé Todd-Medina, president of Effective Media Strategies, a public relations firm that does political consulting. “I know that he loves the city. He decided that this just wasn’t his time. I don’t disagree with that.”
JOHNSON
Budget issues The budget process proved difficult for Johnson because he was caught between battling constituencies and could not please everyone, Todd-Medina said. Johnson in June led the council through budget negotiations that pleased few. Facing massive tax-revenue shortfalls, the $88 billion budget was smaller by billions than any the council has passed in recent years. On top of that was a heated debate over how much of the funds should go to policing. During a summer of protests against police
candidate in the race to replace Mayor Bill de Blasio. But the pandemic and national protests around racial justice have altered the city’s political atmosphere. Johnson said he has been dealing with depression in recent months. “In the same spirit of openness, I would also add that I have been
WEBCAST CALLOUT
BUCK ENNIS
“I HAVE COME TO THE CONCLUSION THAT THIS ISN’T THE RIGHT PATH FOR ME”
brutality, some people pushed for a reduced Police Department budget. Others opposed that, saying it would lead to a spike in crime. Both sides felt the enacted budget conceded too much. Johnson lost credibility with some activists during that process, Todd-Medina said. “I believe that
he did the best that he could do. But at the end of the day, it put him at odds with many of the people in the city that he had a relationship with.” The next mayor will need strong financial wherewithal, she added. Comptroller Scott Stringer and Brooklyn Borough President Eric Adams are prominent names that
remain in the race, as well as former de Blasio counsel Maya Wiley. But it’s hard to decipher a front-runner, Todd-Medina said, adding that one might emerge after the presidential election is settled. “Maybe after that we will see some candidates kind of bubble up to the top,” she said. ■
RESTAURANTS
BY LIZETH BELTRAN
N OCT. 14 CRAIN’S BUSINESS FORUM FEATURING LETITIA JAMES, NEW YORK STATE’S ATTORNEY GENERAL New York Attorney General Letitia James has been an advocate for environmental issues, women’s rights and equal opportunity. As the state’s top law enforcement officer, she has dismantled President Donald Trump’s charity, halted the auctioning of property tax liens and cracked down on pandemic-related price gouging. On Oct. 14, James will join Crain’s New York Business to discuss her accomplishments and the challenges the coming year poses.
Time: 4 to 5 p.m. CrainsNewYork.com/octbusinessforum
ew York City will make its Open Restaurants initiative permanent year-round, Mayor Bill de Blasio announced last Friday. The program, which launched June 22 and was to end Oct. 31, has allowed struggling restaurants to reimagine outdoor dining by opening up streets and sidewalks to patrons. The effort is designed to help restaurants recoup some of the revenue streams lost during the pandemic shutdowns. “The bottom line is, we want restaurants to do well,” the mayor said on WNYC’s Brian Lehrer Show. “I want us to take this model and make it work for years to come.” The permanent expansion of outdoor dining will be done in conjunction with the Open Streets initiative, the mayor said, noting that 87 streets are participating.
Widespread participation To date, more than 10,000 eateries are part of the Open Restaurants initiative, the mayor said. Restaurants will have the opportu-
nity to expand seating outside adjacent properties, as long as property owners formally agree to the use of the space for a specified period of time and commit to not charging a fee for its use. The Department of T ra n s p o r t a t i o n will issue applications for expanded seating in adjacent areas in the weeks ahead, the mayor said. Restaurants will be allowed to use tent enclosures to keep patrons warm during cold weather. In partial tent enclosures, at least 50% of the tent’s side-wall area will have to remain open; electrical heaters will be allowed. In full tent enclosures, the tent’s side walls may be closed, but occupancy limitations will be capped at 25% of capacity. The city
BUCK ENNIS
Outdoor dining to become permanent year-round in city
will impose indoor-dining guidelines in full tent enclosures, in other words. Electrical heaters will be allowed on sidewalks and roadways. Propane and natural-gas heaters will be allowed on sidewalks but will
remain prohibited at roadway seating. The city is expected to release more guidance on heaters in the coming days. The move comes as indoor dining is set to resume Wednesday at 25% capacity. ■
Vol. 36, No. 32, September 28, 2020—Crain’s New York Business (ISSN 8756-789X) is published weekly, except for bimonthly in January, July and August and the last issue in December, by Crain Communications Inc., 685 Third Ave., New York, NY 10017. Periodicals postage paid at New York, NY, and additional mailing offices. Postmaster: Send address changes to: Crain’s New York Business, Circulation Department, PO Box 433279, Palm Coast, FL 32143-9681. For subscriber service: call 877-824-9379; fax 313-446-6777. $3.00 a copy; $129.00 per year. (GST No. 13676-0444-RT) ©Entire contents copyright 2020 by Crain Communications Inc. All rights reserved. 2 | CRAIN’S NEW YORK BUSINESS | SEPTEMBER 28, 2020
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TRANSPORTATION
BY BRIAN PASCUS
T
he City Council wants the mayor to take a page out of former President Barack Obama’s playbook. It is calling on the city to guarantee the value of the struggling taxi medallion industry and create a refinance plan modeled after an Obama-era housing relief program. Ritchie Torres and 18 other council members made the case in a blistering letter to Mayor Bill de Blasio, arguing for the creation of a medallion relief mechanism similar to the Home Affordable Refinance Program initiated by the Obama administration in 2009. “A program such as this, modeled after the federal Home Affordable Refinance Program (HARP)—in this case, Medallion Affordable Refinance Program (MARP)—would
helping,” the letter reads. The council members are seeking to use the city as a backstop against the leveraged loans that have plunged thousands of immigrant yellow-cab owners deep into debt while setting a price floor on the value of each medallion at $250,000. That would create new equity in those medallions that are valued at less than that amount. “We are calling for the city to immediately establish a Medallion Asset Relief Program to reset medallion values to $250,000 for the 6,250 medallion owner-operators, or those who own and operate 20 medallions or fewer, through a government guarantee of every taxi medallion in NYC,” the letter states. The average medallion loan is roughly $500,000; the average medallion is now valued at less than $150,000. The debt levels have driven thousands of taxi drivers who purchased medallions to default on their loan. Some committed suicide. The letter argues that a city-supported backstop of the MARP would create a mechanism to bring down the interest rates on the loans, allowing drivers to make lower payments more in line with an altered
“WE’RE AT A LOSS ... WHY THE CITY ... DECIDED TO KILL THEIR GOLDEN GOOSE” cost the city as little as $20 million to implement over the next five years while creating nearly $1.4 billion in new equity value for medallion owner-drivers it would be
BUCK ENNIS
City must backstop taxi medallion loans, council members demand
industry. Yellow cabs have been negatively impacted by the growth of Lyft, Uber and other ride-hail companies during the past several years. The business has been eroded further by the Covid-19 pandemic. The recovery of medallion value is of paramount importance to the drivers who carry the loans, as well as the city, which has lost money on their decline in value.
Failure to regulate Ten to 15 years ago, prior to the emergence of app-based ride-hail companies, the city had 13,500 me-
dallions on the road worth an average of more than $1 million each, according to medallion owner Sergio Cabrera, a member of the Yellow Taxi United trade group. Today Cabrera estimates there are 1,600 medallions on the road that could be individually auctioned off for as little as $75,000. Cabrera points the finger at the city’s Taxi and Limousine Commission for failing to regulate competition from 120,000 ride-hail vehicles added since then and for not maintaining established standards to ensure the taxi medallion franchise remained financially stable.
“They killed a $15 billion industry they managed and were privy to receive revenue from,” he said. “We’re at a loss to discover why the city of New York decided to kill their golden goose.” The TLC did not respond to a Crain’s request for comment. Crain’s previously reported on the TLC’s failure to regulate ridehail companies according to the letter of a law passed by the council and signed by de Blasio in 2018. Transportation industry insiders argue the TLC is to blame for allowing a valuable revenue source for the city to dry up under its watch. “The greatest offense is they screwed over the taxpayer,” said medallion owner Carolyn Protz, who put the blame solely on the TLC. “Now they have 1,600 medallions on the shelf they can never sell.” The human side cannot be overlooked. Many drivers poured their life savings into acquiring a medallion, only to see its value plummet as the TLC allowed Uber and Lyft to expand at exponential rates each year since 2012. The experience has left many drivers wondering who they can trust. “When the city of New York is biased against its own company then they shouldn’t be managing us anymore,” Cabrera said. ■
RESTAURANTS
Some New Yorkers say they won’t go to restaurants imposing pandemic surcharge BY GWEN EVERETT
A
quarter of New Yorkers would stop going to restaurants altogether if the newly enacted Covid-19 surcharge is imposed, a survey by Finance Buzz found. Only 16% of patrons who responded to the survey said it’s always fair for restaurants to add a surcharge, while 37% said it’s never fair. The City Council recently passed a law allowing restaurants to impose a surcharge of up to 10% on a customer’s bill, but now it comes down to those businesses to decide
restaurant Zavo on the Upper East Side. The pandemic has already altered the experience of fine dining, Zavolun said, and a surcharge would just add to that pile.
Effect on tips Zavolun added that waitstaff will see the charge as taking a bite out of their tip. Restaurants are not required to pass on any of the proceeds from the surcharge to the workers they employ. More than half of respondents to the survey—57%—said they would tip the same even with surcharges implemented. Nearly a quarter said they would tip less. Those results were roughly in line with a national survey that found that 27% of Americans would reduce their tips if they received a surcharge on their bill. The national survey included 1,000 respondents, with nearly 100 hailing from New York. Nearly a third of national respondents said they wouldn’t go to a restaurant that imposed a surcharge. The pandemic was what gave a
whether they will actually put the charge into practice and possibly alienate customers. “I don’t think customers will be very happy with it. I think they will be very unhappy, especially when there is another reminder of Covid-19 on their bill,” said Ilya Zavolun, owner of the private-dining
ISTOCK
“CUSTOMERS WILL BE VERY UNHAPPY WITH A REMINDER OF COVID-19 ON THEIR BILL”
New York restaurant surcharge bill—which had languished in the council for years, with Staten Island Republican Joseph Borelli as its lone sponsor—the broad-based support from the rest of the council to pass. It is scheduled to sunset 90 days after restaurants have gone back to serving their full capacity.
Lawmakers justified the fee as a way for restaurants to cover costs— Covid-19-related or otherwise— that have become crushing at a point in time when restaurants are making only a fraction of their typical sales. But the pandemic also makes it a difficult time to impose a sur-
charge, said Marco Chirico, owner of Brooklyn’s Enoteca on Court. “It can help restaurants but also hurt restaurants,” Chirico said, adding customers might resent paying a 10% surcharge on top of the 8% tax and the gratuity. “At the end of the day,” he added, “it looks bad.” ■
September 28, 2020 | CRAIN’S NEW YORK BUSINESS | 3
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HEALTH CARE
Montefiore, Einstein bank $111M to lead group focused on HIV-related cancers BY JENNIFER HENDERSON
BLOOMBRG
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ontefiore Health System and Albert Einstein College of Medicine announced last Tuesday that they have received a five-year, $111 million grant from the National Cancer Institute, part of the National Institutes of Health, to lead the longstanding AIDS Malignancy Consortium. The consortium has been a driving force behind national and international efforts to prevent and treat HIV-related cancers for 25 years, Montefiore and Einstein noted. The work is especially important as antiretroviral therapy to suppress HIV has helped tens of millions of people live longer and healthier lives. But the unfortunate consequence of living longer with HIV is an increased risk of cancer. “People living with HIV shoulder
chair for clinical research in the department of oncology at Montefiore, associate director for clinical research at the Albert Einstein Cancer Center and principal investigator on the grant, in a statement. “AMC is the only organiza-
“PEOPLE LIVING WITH HIV SHOULDER AN ENORMOUS BURDEN OF CANCER” an enormous burden of cancer,” said Dr. Joseph Sparano, associate
tion worldwide solely dedicated to the study, treatment and prevention of cancer in this group of people.”
The next phase The AIDS Malignancy Consortium oversees a network of 42 clinical trial sites in the U.S., Africa and Latin America as well as scientists
who support its trials, Montefiore and Einstein noted. It also runs a career program to help the next generation of leaders in the area receive resources and support. It works directly with people living with HIV and cancer to help better identify the needs of the community. Results from its clinical trials
have helped to strengthen treatment guidelines as well as to advance the prevention and management of cancers associated with human papillomavirus and the use of precision medicine and immunotherapy for people living with HIV who receive antiretroviral therapy, Montefiore and Einstein said. “During this next phase, we will build on these successes, developing and leading additional clinical trials designed to address the most critical needs of people with HIV and cancer, precancerous disease and individuals at high risk for cancer—most importantly, completing the Anchor trial,” Sparano added. The Anchor study focuses on the prevention and treatment of anal cancer caused by HPV. Dr. Rebecca Levine, assistant professor of surgery at Einstein and a surgical oncologist at Montefiore, is serving as the Anchor principal investigator at Einstein and Montefiore. “We expect the results of this study will have an enormous impact on clinical care,” Levine said in a statement. The AIDS Malignancy Consortium was previously led by the University of California, Los Angeles. ■
POLITICS
City expands furloughs to 9,000 workers BY COLIN KERN
ARTS & CULTURE
Met Opera extends shutdown for a year BY GWEN EVERETT THE METROPOLITAN OPERA will remain shuttered for the entire 2020– 21 season, the iconic venue said last Wednesday. The Lincoln Center opera house will remain dark at least through next September. “This week should have been the triumphant start of a new season. Instead, the health crisis forces us to now announce the cancellation of the season in its entirety,” said Peter Gelb, general manager. “As you can imagine, nothing
makes us sadder.” The decision came after a briefing with health officials, the opera house said. The announcement demonstrates how dire the pandemic has been for performing arts venues in the city. While fine arts institutions were able to reopen in August as the city’s shutdown restrictions eased, performing arts centers— widely seen as presenting a greater social-distancing challenge—have remained shuttered and are likely to stay closed at least through the end of the year. ■
DE BLASIO
NYCMAYORSOFFICE/FLICKR
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ew York’s dire economic situation continues to hit city workers in the pocket. The city will expand furloughs to more than 9,000 agency employees, the mayor announced during a briefing last Wednesday. “Last week I announced furloughs for officials of the mayor’s office, myself included,” said Mayor Bill de Blasio. “Today another furlough action.” The five-day furloughs include all managerial employees and workers not represented by organized labor. The thousands of affected workers are to take their unpaid leave between October and March. The mayor said the move will save the city $21 million. The action is “something that is very painful to announce, with real human consequences, but it is
himself and about 500 members of his staff. The furloughs can help the city buy time as it navigates a possible $8.5 billion budget gap during the next two years and up to $12 billion by fiscal 2022, according to a July 29 report by the state Financial Control Board. Layoffs for 22,000 city workers that were supposed to go into ef-
“IT’S SOMETHING VERY PAINFUL TO ANNOUNCE, BUT IT IS NECESSARY” necessary,” de Blasio said. Two weeks ago the mayor ordered a weeklong furlough for
fect Oct. 1 were put on pause last month as municipal authorities came forward and urged the mayor for more time to find alternative savings in the budget. De Blasio plans to hold the pink slips for the time being, he said in late August. The mayor has been vying for borrowing authority from Albany for months, but Gov. Andrew Cuomo and other state officials have called that idea fiscally irresponsible. ■
4 | CRAIN’S NEW YORK BUSINESS | September 28, 2020
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ASKED & ANSWERED
VINCENT BOUDREAU City College of New York INTERVIEW BY BRIAN PASCUS
A
s a City College of New York faculty member for 29 years, Vincent Boudreau has held a few titles. First he was a political science professor, then he became chair of the department. He later became the founding director of the school’s Colin Powell Center for Civic and Global Leadership. Now he is president of the college, a role he has held since December 2017. In that role, he faces rare challenges brought on by the Covid-19 pandemic, first among them how to balance the health and safety needs of students and faculty while providing a high-quality education.
What will City College’s return from the pandemic be like?
We will be mostly online as far as instruction is concerned, about 94%. We’re not going to bring people back on campus just because they are lonely or they prefer to be on campus. We’re going to continue to have people working and learning at a distance until it is safe to get back, until the virus is absent from our population, or there is a vaccine that is widely distributed.
Has switching to a digital setting been tough?
We had virtually no experience at working from a distance. Prior to the pandemic, 3% of our classes
DOSSIER WHO HE IS President, City College of New York AGE 57 RESIDES Washington Heights GREW UP Syracuse EDUCATION Bachelor’s in English and philosophy, Le Moyne College; master’s and Ph.D. in government, Cornell University FAMILY MATTERS Boudreau is the second oldest of seven siblings. His father was a professor in the English department at Le Moyne, and his mother was a nurse. Now Boudreau is married to Antoinette Raquiza, a professor at the University of the Philippines. BOOKWORM He counts Imagined Communities by Benedict Anderson as his favorite book. WORDS TO LIVE BY: Boudreau is motived by the anonymous quote: “Anyone who is in a position of power, who is not on the brink of getting into trouble daily, is not doing their job in service to others.” WHAT HE’S INTO He is interested in the fights against racism and climate change. On the lighter side, he enjoys fly fishing.
were offered online. We have educators without much experience teaching online,
and we have a student body whose hold on education and their belief in their own ability to get a college degree is precarious. That’s a dangerous combination.
What is your own biggest concern?
I wonder all the time if we are missing a generation of students who had the potential to change their lives through a college education, but they happened to hit college at a time when we didn’t have the kind of welcoming, person-to-person, face-toface embrace that’s been so important and keeps so many students on campus?
How do you drive down costs in higher education?
You take a look at state schools and ask, “Is this an institution that is prioritizing the education mission or is this an institution that has decided to build stadiums and health clubs and museums?” And in the latter case, you kind of surrender the question of how to make it less expensive, because you can’t. Our in-state tuition has just crossed the $7,000-a-year mark. Students are paying $3,500 a semester. The cost to educate each engineering student is $12,000. The students are paying 60% of the cost to educate them.
What is one class you think every student should take at least once and why? I think it’s a world literature class. When I first went off to the Philippines [for post-graduate coursework], I read six or seven novels written by Filipinos because I wanted somebody with the voice of that country to take me through their story. I think we are rapidly losing the ability to put ourselves in the shoes of other people, and world literature requires that you do that. ■
September 28, 2020 | CRAIN’S NEW YORK BUSINESS | 5
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IN THE MARKETS
Banks report steep drops in loan deferrals, but what do they mean? It could be that borrowers are getting healthy or are just tapped out
“WE ARE CLEARLY PLEASED WITH THESE ... TRENDS AND SOMEWHAT SURPRISED”
ISTOCK
L
ocal banks are reporting main in lockdown. Englewood Cliffs, N.J.–based steep declines in loan deferrals. But it isn’t clear if the ConnectOne disclosed that comdrop is because borrowers mercial real estate accounts for are getting healthy or if time has $225 million of its remaining $317 million in deferrals. Apartment simply run out for them. Sterling Bancorp last Wednesday loans make up $43 million. Still, any good news is reported loan deferrals welcome for banks, clocked in at $700 million which in the spring grantat the end of last month, ed desperate borrowers or 3.3% of all loans, down loan deferrals of three from $1.7 billion and 8.0% months or sometimes at the end of June. Conmore. A KBW examinanectOne Bancorp said detion showed that by late ferrals fell to 5.4% of loans June the average deferral from 15.9%. rate was 16% at 168 “We are clearly pleased banks. At some lenders it with these deferral trends, and somewhat surprised, AARON ELSTEIN was higher than 25%. As the forbearance given the economic stresses that seem particularly wave rolls off, the big question is acute to the New York City metro how many borrowers will ask their market,” said Collyn Gilbert, a bankers for more time. A second big question is whether commerKeefe, Bruyette & Woods analyst. Banks are far from out of the cial and consumer borrowers can get more time now that the government assistance that has helped keep them afloat disappears while concerns of a Covid-19 resurwoods, because commercial real gence mount. “It’s still early, and banks are estate loans, which often make up a big portion of their portfolios, re- closely scrutinizing second deferral
requests given indications of persistent stress,” Evercore ISI analyst John Pancari wrote in a report last week.
Borrower strength Gilbert of KBW doesn’t agree. “The fact we’re not seeing requests for second deferrals indicates borrower strength, in our view,” she said.
Last Thursday afternoon, Signature Bank reported that $2 billion worth of commercial real estate loans, or 4.4% of its total loan portfolio, are in their second 90-day deferral period. A handful of lenders in the South that specialize in the hard-hit energy business have reported as many as a third of their loans have been granted second deferrals.
REAL ESTATE
HEALTH CARE
New employer guide looks to help firms battle worker obesity
ISTOCK
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livery services, offering virtual fitness classes and digital tools to promote physical activity, and offering mobile apps for managing stress.
A top concern The guide includes a list of digital weight-management tools available to employers as well as weight-management resources for employees. It also details case
studies of four major employers’ successful weight-management programs that relied on incentives, digital tools and virtual and on-site meetings to promote healthy weight behaviors among their employees. “When we talk to employers, weight issues in general, including obesity, are always in the top five concerns around their workforce,” said Candice Sherman, CEO of the business group. The pandemic has only intensified that concern, Sherman said. New sources of stress, gym shutdowns and working from home have made managing weight more difficult for some people. And obesity has emerged as a significant risk factor for severe complications from Covid-19. ■
BROOKFIELD PLACE
BLOOMBERG
BY JENNIFER HENDERSON he Northeast Business Group on Health has issued a new guide designed to help human resources and benefits leaders address the weight and obesity issues facing millions of employees. The guide comes as Covid-19 disrupts many traditional on-site workplace weight-management and wellness programs. Obesity increasingly affects U.S. adults and is also costly to employers, the group noted. Nearly half of all U.S. adults are projected to be classified as obese by 2030, according to some estimates. And, taking into account medical costs as well as lost productivity, disability and workers’ compensation, and absenteeism, obesity costs U.S. employers more than $73 billion annually. Because millions of employees are now working from home, an important part of the plan is remote intervention focused on healthy eating and physical activity, according to the group. That can include offering virtual healthy cooking demonstrations, promoting access to healthy meal and de-
One sign that more deferral requests are coming is that the number of loans at major banks classified by regulators as “special mention”—meaning they could be troublesome later—has risen to 53% from 42% at the end of last year. That fact, Pancari said, is “potentially implying more pressure on the way as the pig moves through the python.” ■
Brookfield to cut 20% of retail unit staff BLOOMBERG
B
rookfield Property Partners, a large owner of malls in the U.S., is cutting its workforce as the pandemic batters the retail industry. The job cuts will hit approximately 20% of the employees in the real estate company’s retail arm, according to a recent memo to staff. The unit has more than 2,000 workers, according to a spokeswoman, who declined to comment beyond the memo. Brookfield bet big on retail in the U.S. with its purchase of mall owner
GGP for about $15 billion in 2018. Since then pressure has been mounting across the industry, with the pandemic pushing even more customers to embrace the convenience of e-commerce. The firm’s shares have dropped about 40% this year. In May, Brookfield Asset Management, the parent company of Brookfield Property Partners, announced a plan to invest $5 billion to take minority stakes in retailers that have been hit hard by the pandemic. The job cuts were reported earlier by CNBC. ■
6 | CRAIN’S NEW YORK BUSINESS | SEPTEMBER 28, 2020
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COLLAPSE
Kimball said. “We just couldn’t crack the nut of a conversation that goes something like this: ‘Hey, it’s a great project. We love the substance, but I’ve got to worry about my next primary, my next election,’ ” he said. “That’s a tough nut to break, and I hope that for future projects, folks will be able to break through that noise with substance.”
FROM PAGE 1
boost as well, voting to approve it in mid-August. “We were buoyed by some of the most respected members of the City Council coming out and saying, ‘Wait a second here. This is a project of citywide importance,’” Kimball said. “We were buoyed by the support of the borough president. We were buoyed by an 11-1 positive vote at the City Planning Commission.” But this surge in confidence proved to be short-lived. Kimball faced a barrage of tough and hostile questions about the project at a Sept. 15 Council hearing, and a group of state and federal elected officials published a letter opposing the project. It ultimately became too much for
KIMBALL
MENCHACA
“JUST BECAUSE IT DIDN’T SUCCEED ... DOESN’T MEAN OTHERS CAN’T” the Industry City team, and Kimball announced late last Tuesday that it would withdraw its rezoning application, bringing the controversial process to a sudden end. The lack of interest at the local level in finding a compromise and the politics of the moment played a much larger role in killing the project than what it actually entailed,
NEWSCOM
The failure of Industry City to move forward called to mind last year’s botched effort to bring part of Amazon’s second headquarters to Long Island City, another major development project that collapsed under pressure from progressive activists and politicians. And several people in the real estate industry framed the stymied rezoning as yet another instance of New York robbing itself of an opportunity for good jobs. Ofer Cohen, CEO of Brooklyn-focused brokerage TerraCRG, said he was “devastated” when he heard the demise of the project, which would have added retail, offices and even a school to the area. “It’s not one of those projects where it’s like, ‘If you let us build a luxury condo, we’ll bring jobs,’ ” he said. “No, this is all jobs in a time where so many jobs have been lost.” Leaders in the city’s construction industry were less pessimistic
NEWSCOM
Lost opportunity?
about Industry City’s demise. The failure of the developer and the community to reach an agreement in Sunset Park does not mean doing so is impossible at projects across the board, stressed Building and Construction Trades Council President Gary LaBarbera. “It is a negotiation—a conversation—but just because it didn’t succeed in this instance doesn’t mean it can’t succeed in others,” LaBarbera said. “We have to take this as a teachable moment.” And for Menchaca and Sunset Park activists, there was nothing to mourn about the rezoning’s collapse at all. Menchaca spent more than a year going back and forth with Industry City’s owners about the rezoning and even announced in September 2019 that he would let it proceed before quickly reversing
his position. He claimed the project would result in gentrification of the area and displace local residents. He says he’s relieved to be done with the rezoning application for the campus and planned to start focusing on a broader vision for the Sunset Park waterfront centered on the health and wellness of the community. “What we have to do is step back and look at the whole Sunset Park waterfront holistically,” he said. “Industry City has always been self-interested in their own property.” And despite the often-heated arguments Menchaca got into with Industry City’s owners during the rezoning process, he said he “absolutely” would still work with them on plans to improve and develop Sunset Park. “We want to work with everybody in the neighborhood: landlords and
small businesses and community leaders,” he said, “and now we have an opportunity. This obstacle was removed.” Protect Sunset Park, the activist group spearheading community opposition to the Industry City rezoning, was similarly pleased that the developers had withdrawn their rezoning application. They already have started focusing on another major issue: a massive film and television production hub that the city and Steiner Studios are planning at Bush Terminal. “We’re making sure that there’s more community engagement,” said Antoinette Martinez, a neighborhood resident and Protect Sunset Park organizer, “so that Sunset Park would be able to really evaluate whether having a film studio along our waterfront is in line with the vision that we have.” ■
REAL ESTATE
Commercial-eviction ban extended another month BY NATALIE SACHMECHI
C
Landlords’ view For landlords, the order does not change much, said Howard Kings-
Plan, manage, succeed. Our tailored solutions help hedge funds, private equity firms, broker/dealers and RIAs reach their goals.
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ommercial evictions in New York will remain on hold until at least Oct. 20 under an executive order issued Sept. 18 by Gov. Andrew Cuomo. In August the state courts announced that commercial evictions would be stayed until Sept. 4. But that has been extended once again. Foreclosures against commercial property owners who haven’t been keeping up with mortgage payments are also banned until then. “The pandemic remains far from over, and we need to continue protecting the business owners supporting their families amid restrictions necessary to protect the public health,” Cuomo said. “That’s why it’s the right decision to extend the eviction ban for commercial tenants another 30 days.” Small-business advocates lauded the extension. “It was incredibly important that Gov. Cuomo extended the moratorium on commercial evictions,” said Andrew Rigie, executive director of the New York Hospitality Alliance. “We will need to continue to extend it until we figure out a way to forgive rent and deal with the rent crisis.”
A BUSHWICK small-business owner during a demonstration ley, a real estate lawyer at Rosenberg & Estis. “Landlords aren’t rushing to get rid of tenants,” Kingsley said. “The market is so slow.” Tenants who are struggling to make it through the pandemic might have a higher chance of survival, he said, but the situation hurts landlords whose tenants are being opportunistic and using Covid-19 as an excuse not to pay. The moratorium on residential evictions, which is slated to expire at the end of September, was not
further extended. Cases that had already begun before March 17 will be allowed to move forward and be executed by a city marshal on Oct. 1. Under the Tenant Safe Harbor Act, however, a tenant could not be evicted for nonpayment of rent during a defined period, beginning March 7 through a date that has not been determined. Instead, a court can issue a financial judgment against the renter to help the landlord recover the money owed. ■
grassicpas.com/financial-services
SEPTEMBER 28, 2020 | CRAIN’S NEW YORK BUSINESS | 7
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president K.C. Crain senior executive vice president Chris Crain group publisher Mary Kramer
EDITORIAL
publisher/executive editor
Nurses help us heal—now let’s help them do their jobs effectively the logistics of implementing safe staffing ratios, or the number of patients a nurse can safely attend to during a given shift. The report also predicted the costs associated with adding enough staff to make sure the nurse-to-patient ratio remains low. Researchers found that hospitals would need to hire nearly 25,000 more nurses at an annual cost of up to $2.4 billion. And nursing homes could rack up $2.3 billion in annual costs. Hospitals point out that their current financial landscape is bleak. After weeks of shutdown, they lost hundreds of millions of dollars by canceling or postponing nonemergency procedures to free up bed space for Covid patients. And New Yorkers aren’t exactly rushing back to hospitals and medical offices even as the pandemic winds down, further chipping away at their bottom line. The case with nursing homes is equally dire, as they have been subject to widespread scrutiny about whether they are safe places for our elderly loved ones going forward. But nurse staffing is an issue that affects all people at some point. Many of us have heard stories about hospital stays in
NURSE STAFFING IS AN ISSUE THAT AFFECTS ALL PEOPLE AT SOME POINT cover story Staffing Standoff. “The patients are getting sicker and sicker and sicker. They require more and more care, and you really need to have a manageable patient load.” In trying to address the problem, the state Department of Health recently issued a report on
associate publisher Lisa Rudy EDITORIAL editor Robert Hordt assistant managing editors
Telisha Bryan, Christine Haughney (special projects), Janon Fisher audience & analytics manager
Gabriella Iannetta associate editor Lizeth Beltran (digital) art director Carolyn McClain photographer Buck Ennis data editor Gerald Schifman senior reporters Aaron Elstein reporters Ryan Deffenbaugh, Gwen Everett,
Jennifer Henderson, Brian Pascus, Natalie Sachmechi, Shuan Sim, Eddie Small executive assistant Devin Cavallo to contact the newsroom:
www.crainsnewyork.com/staff 212.210.0100 GETTY IMAGES
E
ven before the pandemic, nurses complained of being overwhelmed and overworked. Many told of crowded floors, especially in less-well-off public hospitals, and the need to attend to up to 12 patients at a time—a scenario that left them feeling as if they were not providing the best level of care possible. Covid-19 ramped up the problem, boosting the patient load and pushing many nurses to take on responsibilities they never had before. “Staffing is a huge issue,” Tanisha Thompson, a registered nurse at Wyckoff Heights Medical Center, told Crain’s reporter Jennifer Henderson for this week’s
Frederick P. Gabriel Jr.
which no one seems to be around to answer questions or comfort family members. And when a nurse finally shows up, he or she is harried and quick to race off again. We rely on nurses to help us in our time of need. But who helps them do their job effectively? The Health Department’s report arrived at an unprecedented time in history. Of course, hospitals will need to be mindful of their finances until the ship is righted again, but adequate staffing for medical professionals needs to remain a top priority. If there is a
second wave of Covid-19 that coincides with the flu—and if nurses this year choose to retire during the last quarter, as is usually the case—we will need as many hands on deck as possible to keep fighting this crisis. As Pat Kane of the New York State Nurses Association noted, hospitals and medical facilities should make recruiting and maintaining an adequate nursing workforce part of their planning conversations for rebounding from this crisis. The health of our state depends on it. ■
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OP-ED
Monetary policy is a civil rights issue
REPRINTS director, reprints & licensing Lauren Melesio,
212.210.0707, lmelesio@crain.com PRODUCTION production and pre-press director
BY BRIAN BENJAMIN
H
istorically, fighting inflation has been the signature policy of the Federal Reserve. But at the end of August, it announced it would prioritize maximum employment over keeping inflation low, which will keep interest rates near zero even as inflation rises. In his statement, Fed Chair Jerome H. Powell concentrated on the benefit of strong labor markets, particularly for low- and moderate-income communities, and described this employment strategy as “broad-based and inclusive,” calling it a tide that lifts all boats. But the reality is that the Fed’s policy change will not actually provide what is necessary to reach anything close to maximum employment for less-well-off communities. If the Fed actually wants to help those who are hardest hit by unemployment, there are more levers it can pull in the pursuit of its goal. Our central bank does more than set interest rates—it supervises banks and oversees community de-
velopment initiatives. There is room in these duties to build and encourage strategies to deliver help specifically to those who need it.
Locked out Any reasonable and responsible plan will understand the current employment landscape and take it into account. In August, even as unemployment crept down, 13% of Black workers remained unemployed, while white worker unemployment reached 7.3%. These disparities exist for employed Americans as well. In New York City, for example, Black workers are significantly underrepresented in common high- and middle-paying jobs, such as construction and legal services. In most industries, these New Yorkers are also paid significantly less. And race is not the only line along which these inequities run. I have seen this firsthand, and in the last six months, despite the relief my colleagues and I have worked hard to deliver, I have seen it grow worse. The Federal Reserve has histori-
cally argued that this is a civil rights issue, not a banking one, and therefore isn’t something it should be concerned with. But monetary policy is a civil rights issue, and the Fed has already taken on an activist posture with this new policy. It makes sense to build out a plan that does the most for the New Yorkers of color who are locked out of the job market or make a fraction of what their colleagues make; for women who, even in New York City, continue to make a fraction of what their male counterparts make; and for anyone else who is actually facing unemployment or underemployment at this time. When the government intervenes, and it should, it has to be done in a way that makes sense. New York cannot afford more policies that look the other way. Americans who have historically faced disparities in wages and employment have fallen prey to incomplete strategies like this in the past. The very idea of this new plan implicitly states that past decisions to raise interest rates to stop inflation prevented people from gain-
ing employment, and we all know that it is people who live in districts like mine who missed out. For the sake of thoroughfares of small business, like Frederick Douglass Boulevard, and for families in communities like Harlem and El Barrio, we need to approach the recovery from Covid-19 with a clear vision and do our very best to build an economy with fewer of the inequities that have plagued us, not one that replicates or increases them. In this situation, that means strategies that ensure employment gains are shared impartially, and it requires targeting communities that are suffering the most. This must be true for our plans for social services, for economic development and for all the plans we build for our recovery. As we work to build a more equitable economy, we must ensure that our analysis is rooted in the understanding that structural racial barriers existed before Covid-19. ■
Simone Pryce media services manager Nicole Spell SUBSCRIPTION CUSTOMER SERVICE
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State Sen. Brian Benjamin represents Harlem and the Upper West Side.
8 | CRAIN’S NEW YORK BUSINESS | SEPTEMBER 28, 2020
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OP-ED
Project labor agreements create a more inclusive workforce BY LOU COLETTI
A
recent opinion piece (“Mayor excluding construction workers who need help the most,” Sept. 14) by a representative from the Associated Builders and Contractors claimed that economically disadvantaged New Yorkers, particularly people of color, will not benefit from the project labor agreements Mayor Bill de Blasio signed just weeks ago. The author must take lessons from President Donald Trump in distorting facts. Here is the truth. The author’s assertion that project labor agreements leave open-shop workers in the cold is totally off base.
labor agreement means a raise over their usual pay. The author does not seem to understand that one of the primary functions of project labor agreements is to open pathways for local residents into apprenticeships, which lead to careers in the trades, not temporary jobs.
Greater opportunities The PLA the mayor just signed provides some of the strongest provisions in this regard while also creating greater opportunities for minority- and women-owned firms to win jobs, grow and succeed. Project labor agreements also lead to cost savings, which in this economic environment is more important than ever. But the author failed to acknowledge these truths and conveniently neglected to include data in his opinion piece to back up his phony assertions. I challenge him to offer facts and not a bunch of undocumented generalities about what Associated Builders and Contractors members are doing for New York City. But I am not holding out hope. I should also point out that data show nonunion contractors are far less safe for their workers. According to the Department of Buildings, 83% of all fatalities over the
All labor agreement projects can be bid both by union and nonunion contractors. If a nonunion contractor is the lowest responsible bidder, it is awarded the contract and signs a labor agreement for that specific project. Even so, all city construction projects pay workers prevailing wages whether they are union or nonunion. For the association’s nonunion workforce, working under a
BLOOMBERG
DE BLASIO DESERVES OUR THANKS FOR SIGNING THESE AGREEMENTS
last five years occurred on nonunion construction sites, and 81% of all accidents occurred on nonunion sites. Sixty-five percent of all stop-work orders occurred on nonunion sites, and 64% of accident-related violations were issued to nonunion contractors. Rather than advocate against initiatives that will expand career opportunities for New Yorkers, perhaps the Association of Builders
and Contractors should work on keeping people safe on the job. Two things we can agree on are that construction is the path to the middle class and that equality and opportunity are important values the city should pursue. But I challenge the Associated Builders and Contractors to show us the facts about how their contractors are contributing to these goals and providing opportunities for city resi-
dents of color and women. De Blasio deserves our thanks for signing these PLAs and taking meaningful steps toward a more inclusive construction workforce. ■ Lou Coletti is president and CEO of the Building Trades Employers Association, which represents 26 trade contractor associations and 1,200 contractors doing $60 billion of construction in the city.
OP-ED
Covid-19 can teach us how to deal with environmental problems
H
ere on the East Coast, we watch the wildfire devastation in the West from a distance, with horror and maybe more than a little bit of a guilty sense of relief. Our region—green and lush at the end of a beautiful summer—is spared from wildfires enhanced by climate change. So far, this year’s hurricane season, predicted to be volatile, has largely passed us by. Which is not to say this season has been easy. We face a prolonged recession; we are still coming to terms
sult of climate change, it can provide some answers to one of the biggest questions we face as a society—what to do about the climate crisis. Our pandemic experience as a nation and a region is in fact an opportunity to get climate change right. The pandemic is the practice run for what our region will have to face given the increasing threats of climate change. The fires in the West are the loud cry and final signal that resiliency and climate preparedness must be included in every policy decision for the good of the economy, for our decisions around housing, infrastructure, transportation, public health and emergency management. We must seize this moment to embrace a bold vision for climate adaptation and preparedness—one that makes us more resilient and stimulates economic recovery with thousands of jobs and the creation of green infrastructure that will serve us for generations to come. The good news is we have answers.
WE MUST SEIZE THIS MOMENT TO EMBRACE A BOLD VISION FOR CLIMATE ADAPTATION with the tens of thousands of regional residents we lost over the past six months and continue to lose to Covid-19. For many of us, our daily lives are forever altered. Our region is still unprepared for what could be the next Superstorm Sandy. Questions about the future abound. Though the pandemic is not a re-
This summer, elected officials, including Sens. Corey Booker and Kirsten Gillibrand, along with close to 100 advocates, community organizers and grassroots supporters, endorsed a comprehensive climate resilience platform for New York and New Jersey. Dozens of communities across the region organized climate-activism events for City of Water Day on Sept. 12 to recognize the future high tide line and the necessity of resilience. BLOOMBERG
BY CORTNEY WORALL
Three lessons As we take on this challenge, we must apply three lessons from our response to the pandemic. The first is that climate change, like Covid-19, is expensive and can devastate entire economies. Witness the deficits faced by major transit agencies, cities and states in this era. Loss of lives, property and infrastructure at the hands of climate change could be equally devastating. The second is that, upsetting as it is to have to say this, we must base our efforts on scientific fact. Climate data is necessary for decision-making. For example, at the community level, the data makes clear the inevitability of sea-level rise, the need for preparation and
the importance of not building in high flood-risk areas. The third is that climate change, like Covid-19, will affect those who are the most vulnerable and who have the least means to recover after crises. Thousands in public housing near the water’s edge, for example, could be forced into unthinkable choices after the next devastating hurricane. In New York City and in the coastal cities of northern New Jersey, every decision-maker and candidate running for office must make climate adaptation one of the
highest priorities of their administration. They must make a commitment to changes that prepare and protect us and that spur economic growth. This is the new normal for our elected leaders. Let us use this time of reflection and profound questions to get climate right, clearly seeing and embracing the signals that call out to embark on the new normal of climate change resilience and preparedness. ■ Cortney Worrall is president and CEO of the Waterfront Alliance.
September 28, 2020 | CRAIN’S NEW YORK BUSINESS | 9
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THE LIST LARGEST ACCOUNTING FIRMS Ranked by number of New York–area professionals COUNTING THE MONEY While the Big Four firms increased their revenue nearly $5 billion from 2018 to 2019, other firms on the list also took a big step forward.
-11.2
+$4.9B
%
+4.0%
+3.0%
+2.0%
+$2.0B +1.0%
Big Four
ISTOCK
0%
DECREASE in city accounting professionals from Aug. 2019 to Aug. 2020, the largest year-to-year drop since the 1990–1991 recession
Other firms
A BLIP ON THE SCREEN Total employment of city accounting, tax preparation, bookkeeping and payroll services professionals has risen steadily in the past three decades, but pandemic-driven layoffs have shrunk the workforce. Total employment in August 60K
40k
49,200
20K 1990
2000
2010
SOURCE: State labor department
SOURCE: Crain’s research
RANK
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16
2020
2020 NEW YORK–AREA TOTAL ACCOUNTING PROFESSIONALS/ % CHANGE
2020 NEW YORK–AREA AUDITING AND ACCOUNTING PROFESSIONALS
2020 NEW YORK–AREA TAX PROFESSIONALS
2020 NEW YORK–AREA MANAGEMENT ADVISORY SERVICES PROFESSIONALS
2020 FIRMWIDE ACCOUNTING PROFESSIONALS/ % CHANGE
2019 FIRMWIDE REVENUE (IN MILLIONS)/ % CHANGE
284,018 +30.9%
$36,400.0 +4.7%
FIRM/ ADDRESS
PHONE NUMBER/ WEBSITE
MANAGING PARTNER(S) IN NEW YORK–AREA OFFICE
EY 5 Times Square New York, NY 10036
212-773-3000 ey.com
Herb Engert
11,975 -1.4%
n/d
n/d
n/d
PwC 300 Madison Ave. New York, NY 10017
646-471-3000 pwc.com
Kathryn Kaminsky
11,472 1 +3.0%
n/d
n/d
n/d
KPMG US 345 Park Ave. New York, NY 10154
212-758-9700 kpmg.com/us
Robert Garrett
7,798 -0.2%
1,613
1,741
2,330
172,362 +6.3%
$29,750.0 +2.7%
Deloitte and its subsidiaries 30 Rockefeller Plaza New York, NY 10112
212-492-4000 deloitte.com
Roger Arrieux
5,356 n/d
n/d
n/d
n/d
99,158 n/d
$47,600.0 +3.0%
EisnerAmper 733 Third Ave. New York, NY 10017
212-949-8700 eisneramper.com
Charles Weinstein
1,195 +10.6%
643
373
179
1,679 +17.6%
$420.1 +10.4%
Marcum 750 Third Ave. New York, NY 10017
212-485-5500 marcumllp.com
Jeffrey Weiner
975 +4.3%
n/d
n/d
n/d
2,000 +14.3%
$625.3 +13.7%
BDO USA 100 Park Ave. New York, NY 10017
212-885-8000 bdo.com
Mathew DeMong, Demetrios Frangiskatos
867 +7.0%
417
228
213
68,539 +9.5%
$8,990.0 +11.0%
Grant Thornton 757 Third Ave. New York, NY 10017
212-599-0100 grantthornton.com
Matthew DiDonato
855 +1.3%
285
202
298
7,332 -4.9%
$1,950.0 +8.3%
Citrin Cooperman & Co. 529 Fifth Ave. New York, NY 10017
212-697-1000 citrincooperman.com
Alan Badey
800 +3.2%
359
320
121
1,050 +10.5%
$280.0 +6.1%
RSM US 2 4 Times Square New York, NY 10036
212-372-1000 rsmus.com
Stuart Taub
781 +14.2%
302
262
217
33,000 -5.7%
$5,400.0 +5.9%
CohnReznick 1301 Sixth Ave. New York, NY 10019
212-297-0400 cohnreznick.com
Alan Wolfson
721 -0.3%
328
231
132
2,193 -0.4%
$692.0 +6.0%
PKF O'Connor Davies 665 Fifth Ave. New York, NY 10022
212-286-2600 pkfod.com
Kevin Keane
650 +4.0%
360
150
40
800 +8.1%
$200.0 +11.1%
Mazars USA 135 W. 50th St. New York, NY 10020
212-812-7000 mazarsusa.com
Robert DeMeola
523 -4.4%
286
175
62
668 -3.6%
$218.0 +6.3%
Marks Paneth 685 Third Ave. New York, NY 10017
212-503-8800 markspaneth.com
Harry Moehringer
449 -2.0%
179
260
9
509 -2.7%
$142.0 +3.6%
Berdon
212-832-0400
Mark Bosswick, Stuart Kotler
352 -1.7%
137
129
86
352 -1.7%
$125.0 +2.3%
Stuart Mayer
345 +9.2%
n/d
n/d
n/d
528 +12.8%
360 Madison Ave. berdonllp.com 10 | CRAIN’S NEW YORK BUSINESS | September 28, 2020
47,614 1 +0.9%
$42,400.0 +2.7%
New York, NY 10017 Prager Metis CPAs
P010_P011_CN_20200928.indd 10 14 Penn Plaza
New York, NY 10122
212-643-0099 pragermetis.com
$98.2
9/24/20 +19.2% 5:10 PM
1 1 1 1 1 1 12 31 14 51 26 27 28 29 21 21 21 21 12 12 1 3 1 1 1 2 2
RAN
s
0
ment
019 WIDE (IN S)/ NGE
0.0 7%
0.0 7%
0.0 7%
0.0 0%
0.1 4%
5.3 7%
0.0 0%
0.0 3%
0.0 1%
0.0 9%
2.0 0%
0.0 1%
8.0 3%
2.0 6%
5.0 3%
8.2 2%
10 11 12 13 14 1 15 2 16 317 4 18 519 6 20 7 21 8 22 9 23 10 24 11 25 12 26 13 27 14 28 15 29 16 30 17 18 19 20 21 RANK
RSM US 2 4 Times Square New York, NY 10036
212-372-1000 rsmus.com
Stuart Taub
CohnReznick 1301 Sixth Ave. New York, NY 10019
212-297-0400 cohnreznick.com
PKF O'Connor Davies 665 Fifth Ave. New York, NY 10022
781 +14.2%
302
262
217
33,000 -5.7%
$5,400.0 +5.9%
Alan Wolfson
721 -0.3%
328
231
132
2,193 -0.4%
$692.0 +6.0%
212-286-2600 pkfod.com
Kevin Keane
650 +4.0%
360
150
40
800 +8.1%
$200.0 +11.1%
Mazars USA 135 W. 50th St. New York, NY 10020
212-812-7000 mazarsusa.com
Robert DeMeola
523 -4.4%
286
175
62
668 -3.6%
$218.0 +6.3%
Marks Paneth 685 Third Ave. FIRM/York, NY 10017 New
212-503-8800 markspaneth.com
Harry Moehringer
PHONE NUMBER/ WEBSITE
MANAGING PARTNER(S) IN NEW YORK–AREA OFFICE
2020 NEW YORK–AREA 449 TOTAL ACCOUNTING -2.0% PROFESSIONALS/ % CHANGE
2020 NEW YORK–AREA 179 AUDITING AND ACCOUNTING PROFESSIONALS
2020 NEW YORK–AREA TAX PROFESSIONALS
2020 NEW YORK–AREA 9 MANAGEMENT ADVISORY SERVICES PROFESSIONALS
2020 FIRMWIDE 509 ACCOUNTING -2.7% PROFESSIONALS/ % CHANGE
2019 FIRMWIDE $142.0 REVENUE (IN +3.6% MILLIONS)/ % CHANGE
EY Berdon 5 Times Square 360 Madison Ave. 10036 New York, NY 10017
212-773-3000 212-832-0400 ey.com berdonllp.com
Herb Engert Mark Bosswick, Stuart Kotler
11,975 352 -1.4% -1.7%
n/d 137
n/d 129
n/d 86
284,018 352 +30.9% -1.7%
$36,400.0 $125.0 +4.7% +2.3%
PwC Metis CPAs Prager 300Penn Madison 14 PlazaAve. 10017 New York, NY 10122
646-471-3000 212-643-0099 pwc.com pragermetis.com
KathrynMayer Kaminsky Stuart
11,472 345 1 +3.0% +9.2%
n/d
n/d
n/d
KPMG US Friedman 345 Park Plaza Ave. 1 Liberty New York, NY 10154 10006
212-758-9700 212-842-7000 kpmg.com/us friedmanllp.com
Robert Garrett Frederick Berk, Harriet Greenberg
7,798 343 -0.2% +15.9%
1,613 n/d
1,741 n/d
2,330 n/d
172,362 497 +6.3% +7.6%
$29,750.0 $184.0 +2.7% +25.2%
Deloitte and its subsidiaries Grassi 30 Rockefeller Plaza 488 Madison Ave. 10112 New York, NY 10022
212-492-4000 212-661-6166 deloitte.com grassicpas.com
Roger Grassi Arrieux Louis
5,356 321 n/d +4.9%
n/d 162
n/d 75
n/d 18
99,158 321 n/d +4.9%
$47,600.0 $85.3 +3.0% +16.0%
EisnerAmper Crowe 733 Ave.Ave. 488 Third Madison New York, NY 10017 10022
212-949-8700 212-572-5500 eisneramper.com crowe.com
Charles Weinstein Wendy Cama, Bill Hoving
1,195 268 +10.6% -2.5%
643 103
373 71
179 94
1,679 3,560 +17.6% -1.4%
$420.1 $1,182.4 +10.4% +12.5%
MarcumBlock & Anchin Anchin 750 Third Ave. 1375 Broadway 10017 New York, NY 10018
212-485-5500 212-840-3456 marcumllp.com anchin.com
JeffreySchettino, Weiner Frank Russell Shinsky
975 250 +4.3% 0.0%
n/d
n/d
n/d
2,000 250 +14.3% 0.0%
$625.3 $134.0 +13.7% +2.3%
BDO USA Raich Ende Malter & Co. 100 Park Ave. 1375 Broadway 10017 New York, NY 10018
212-885-8000 212-944-4433 bdo.com rem-co.com
Mathew DeMong, Ellis Ende, Demetrios Frangiskatos Neal Kilbane
867 229 +7.0% +15.1%
417 117
228 110
213 2
68,539 229 +9.5% +15.1%
$8,990.0 $63.0 +11.0% +3.3%
Grant Thornton Baker Tilly 757 Third Ave. 1 Penn Plaza 10017 New York, NY 10119
212-599-0100 212-697-6900 grantthornton.com bakertilly.com
Matthew DiDonato Christine Fenske
855 199 +1.3% -11.6%
285 88
202 72
298 39
7,332 3,449 -4.9% +8.7%
$1,950.0 $755.0 +8.3% +30.6%
Citrinand Cooperman & Co. CBIZ Mayer Hoffman 529 Fifth CPAs Ave. 3 McCann New York,Park/ NY 10017 5 Bryant 1065 Sixth Ave. New York,2NY 10018 RSM US 4 Times Square Withum New York, NY 10036 1411 Broadway
212-697-1000 212-790-5700 citrincooperman.com cbiz.com mhmcpa.com
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800 165 +3.2% 0.0%
359 69
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781 +14.2% 148 -3.9%
302
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217
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$5,400.0 +5.9% $291.3
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721 -0.3% 136 +3.8%
328
231
132
80
56
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2,193 -0.4% 136
$692.0 +6.0% $32.0
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650 +4.0% 116 +13.7%
360
150
40
47
42
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800 +8.1% 524 +3.1%
$200.0 +11.1% $152.0 +10.1%
523 -4.4% 107 +18.9%
286
175
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49
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668 -3.6% 671 +47.8%
$218.0 +6.3% $155.0 +5.6%
449 -2.0% 96 +1.1%
179
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ADDRESS
New York, NY 10018 CohnReznick 1301 Sixth Ave. Janover New Quentin York, NY Roosevelt 10019 Blvd. 100 Garden City, NY 11530 PKF O'Connor Davies 665 Fifth Ave. MBAF New Third York, NY 600 Ave.10022
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212-842-7000 friedmanllp.com
Robert DeMeola
Harry Moehringer
Alan Frankel, Seth Starr, Charles Vallone Frederick Berk, Harriet Greenberg
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Frank Schettino, Russell Shinsky
Raich Ende Malter & Co. 1375 Broadway New York, NY 10018
212-944-4433 rem-co.com
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September 28, 2020 | CRAIN’S0.0% NEW YORK BUSINESS | 11 +2.3%
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NURSES FROM PAGE 1
priority for its members, who work in major hospitals and other health care settings across the state. The ratios regulate the number of patients that can be assigned to a single nurse. Those efforts continued through the height of the crisis. Nurses felt their facilities were unprepared in terms of the size of their staff to take care of the vast number of critical care patients, said Kane, who is a registered nurse herself. “Our feeling was that staffing was so tight, when this came to be, the system broke. It just broke,” she said. The most recent bill about the issue proposed in the state Senate and Assembly is the Safe Staffing for Quality Care Act of the 2019–20 legislative session. It’s currently in committee. Some of the proposed ratios include one nurse to two patients in critical care and intensive care units, one nurse to four patients in medical-surgical units, and one nurse to six patients in well-baby nursery units. The
nurse-to-patient staffing ratios would aid facilities in retaining experienced nurses. Last month the state Department of Health released a highly anticipated report that considered the logistics of implementing set staffing ratios in New York. Researchers found that if the proposed legislation to do so were passed, hospitals would need to hire nearly 25,000 more nurses total—at an annual cost of between $1.8 billion and $2.4 billion. And nursing homes would incur between $1.9 billion and $2.3 billion in annual costs. The estimates reflect an increase in wage costs of between 40% and 53% for hospitals, and between 79% and 96% for nursing homes, at a time when local providers have been financially strained by Covid-19. Aside from recruitment and costs, the department noted in its report that some stakeholders have voiced concerns that mandated nurse-to-patient ratios don’t take into consideration the differences in types of hospitals, patient populations and care practices. It added that the evolution of clinical care and types of patients suggest providers need flexibility to implement staffing plans that best meet all needs. A spokeswoman for the state Department of Health reiterated the need for adaptability in staffing, especially as a result of the current crisis. “The staffing study concluded that maintaining a health care workforce that effectively meets the needs of patients requires a flexible and comprehensive approach to address today’s multifaceted and complex health care delivery challenges,” the spokeswoman said in a statement. “The department continues to support measures to improve quality of care and patient outcomes, and the pandemic has only underscored the need to maintain workforce flexibility.” The Greater New York Hospital Association concurred. “Nurses are indispensable professionals without whom there would be no patient care,” the association said in a statement. “Our hospitals are always looking for ways to better support them and the critical work they do.” However, it said, mandated nurse-to-patient ratios would have been “unworkable and unaffordable” even before the pandemic. And now such a requirement is unthinkable for hospitals.
“EVERY HOSPITAL IN NEW YORK STATE WILL LOSE MONEY THIS YEAR” union’s position is that mandatory nurse-to-patient staffing ratios would help to improve safety, quality of care and staff retention at a time when nurses are more essential than ever. However, hospitals are steadfast in their belief in flexible staffing, which they say enabled them to handle the Covid surge and save patients. Flexible staffing operates without mandated nurse-to-patient ratios and allows providers to adjust their number of nurses in real time based on how they view the needs of patients. They also say meeting set staffing ratios is unachievable thanks to fiscal constraints arising from the current crisis, which resulted in a loss of revenue as most nonmandatory procedures were postponed or canceled. Sean Clarke, a registered nurse and executive vice dean and professor at New York University Rory Meyers College of Nursing, said he believes the pandemic could fan the flames of the staffing battle. “We may see that debate continue for the next while,” Clarke said.
Feeling the strain Tanisha Thompson, a registered nurse at Wyckoff Heights Medical Center and a member of the New York State Nurses Association, said the volume of Covid-19 patients that local nurses took on during the pandemic was incredibly difficult. Thompson, a 20-year veteran, is trained in critical care and was redeployed from other work to that high-need area at the peak of the crisis. “Staffing is a huge issue,” she said. “The patients are getting sicker and sicker and sicker. They require more and more care, and you really need to have a manageable patient load.” Thompson believes that set
NUMBER OF NURSING LICENSES ISSUED IN THE PAST FIVE YEARS Registered professional nurses
Licensed practical nurses
Nurse practitioners
25,000 21,513
20,000
18,607
17,215
15,000
15,892
15,425
10,000
5,000
3,537 1,761
3,170
2,016
3,132
2,132
3,163
2,583
3,116 2,664
0 2015
2016
2017
2018
2019
SOURCE: New York state Education Department
“Every hospital in New York state will lose money this year,” the association said. “Some of our hospitals are contemplating layoffs—a terrible conundrum at a time when we are continuing to ask for heroism during the ongoing pandemic. And we fear, in a post-Covid era—if it ever comes—hospital revenues will not return to their pre-Covid levels due to consumer concerns about hospital care and outmigration of patients from New York City.”
A nurse is a nurse? When Maureen White, a registered nurse and executive vice president and chief nurse executive at Northwell Health, first joined the health system in 1999, it employed a team of 7,500 nurses. Two years ago Northwell had reached a workforce of about 17,000 nurses; now it employs 18,500. The level of nurse staffing is a moving target for the health system, White said. Patients face complex medical and socioeconomic issues, she said, and their status can change in the blink of an eye. Instituting inflexible staffing ratios is a stagnant approach to a dynamic care environment, she said, and taking the approach that one nurse is always equal to another nurse is a disservice to the field. The idea that “a nurse is a nurse” doesn’t adequately address the needs of patients, she added. At the height of the pandemic, there were some Northwell hospitals in which staffing became stretched, White said. However, the health system had anticipated an uptick in patients and brought in outside agency nurses to help fill those gaps. As operations return to normal,
NURSING BY THE NUMBERS THE MOST RECENT DATA from the state Department of Labor show there are 307,392 active registered nurse licenses and 69,285 active practical nurse licenses in New York, as well as 87,729 active certificates for certified nurse aides. The state Department of Health noted those numbers in its recent report on staffing, with the caveat that being actively registered doesn’t necessarily mean professionals are currently practicing. While the number of RN graduates has been increasing, the number of graduates with a baccalaureate in nursing is declining, the Health Department added. Research has shown that patients who are cared for by nurses with a baccalaureate degree have lower readmissions, said David Goede, president of the Nurse Practitioner Association of New York State. A law enacted in 2017 requires all nurses to obtain a baccalaureate within 10 years of initial licensure.
Northwell is prehiring for the last quarter of the year, during which nurses typically retire. And it’s using predictive analytics to help determine areas of need should a resurgence of Covid-19 coincide with flu season. Additionally, because many medical-surgical nurses expressed interest in critical care as a result of the pandemic, the health system in July established new fellowship programs in that area. “You’re never at a loss if you have too many critical care–prepared nurses,” White said.
legislation to implement them would simply establish a floor. Though Kane doesn’t agree with the recruitment and cost figures for mandatory nurse-to-patient staffing ratios included in the state Department of Health’s report, she does agree with its assertion that more data is needed to better determine current workforce numbers and what the need is going forward. The department wrote in its report that although more RN graduates are entering the workforce each year, hospitals that participated in a 2017 study reported difficulty recruiting and retaining nurses, Preparing for the future both experienced and newly liAt NYU Meyers, the first-year stu- censed. Research suggests that the dents who were accepted came de- state will continue to experience a spite the pandemic, said nursing shortage during Clarke. the next decade, which could make meeting “There’s been some mandated staffing levels wonderful positive attenunachievable for some tion on frontline nurses LOW ESTIMATE providers. and physicians,” he said. of the increase The department noted Additionally, many inin wage costs that in 2016, the Center dividuals have been disfor hospitals if for Health Workforce placed from jobs in other mandatory nurse Studies, an academic reindustries, he said. Hisstaffing ratios are enacted. The high search center based at the torically, health care has estimate is 53%. School of Public Health at been a stable field. But that’s not to say nursing the University at Albany, hasn’t been affected by projected that if RN gradnew uncertainties. uation and retirement “Whenever you see a trends remain the same, LOW ESTIMATE decline in [patient] adthe supply of nurses of the increase would grow by 5% to 9% mission volumes and proin wage costs for between 2015 and 2025, cedures, you’re going to nursing homes. largely keeping pace with see a financial impact and The high estimate is 96%. demand. perhaps an effort to rebalHowever, the departance things,” Clarke said ment also acknowledged of hospitals and other providers. That includes laying off that other projections, such as those staff. published more recently in the The demand for nurses remains, American Journal of Medical Qualihowever, particularly in new areas, ty, indicated a shortage of more such as telemedicine and at com- than 39,000 registered nurses in munity-based health organizations. New York by 2030. In anticipation of a second wave Kane of the New York State Nurses Association agreed that nursing re- of Covid-19—or another public mains an attractive career despite health crisis—Kane said hospitals the pandemic. But that can’t be tak- and other health care providers can en for granted, she said. As tenured help to bolster frontline staff by innurses age and retire, Kane ques- cluding nurses in planning convertioned whom they’ll be replaced sations. Maintaining the new mental with. “Safe staffing would really attract health and wellness resources repeople to the profession,” she said, cently put in place at facilities is “because it’s something that people also important, she said. And it’s leave over.” essential that nurses feel their emThere are nurses who go to school, ployers are protecting them by belove the profession and want to help, ing transparent about preparation she said, but then enter the work- efforts and achieving adequate perforce and have eight or 12 patients at sonal protective equipment and a time and realize they can’t really staffing levels. help people in that situation. “These people just want to do She said she doesn’t believe set their jobs,” Kane said. “They just staffing ratios are inflexible. Rather want to save people.” ■
40% 79%
12 | CRAIN’S NEW YORK BUSINESS | September 28, 2020
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FEW QUALITIES ARE MORE VITAL to the health of any business than financial equilibrium and organizational efficiency. Rarely has the value of both been more strongly felt than in recent months. From stress-tested balance sheets to fast-changing regulations, and reconfigured supply chains to “new normal” working arrangements, the Covid-19 pandemic has challenged even the strongest of businesses. Standing tall within this chaotic breach are the foot soldiers of professional service firms, led by accountants and management consultants. In selecting the 86 honorees for this year’s list of Notable Women in Accounting and Consulting, Crain’s sought to spotlight the accomplished metropolitan area professionals and problem-solvers who keep businesses churning. The talented individuals presented here are a diverse group, skilled at resourceful innovation and disruptive thinking. These
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women are experts in tax regulation, audit, estate administration, forensic accounting, organizational transformation, advisory services, fundraising and business structure. They represent an extraordinary group of professionals from firms of varying size and renown. To find these honorees, Crain’s consulted with trusted sources in the business world in general and in the accounting and consulting realms in particular. The nominations submitted by individuals and firms in the New York metropolitan area were rigorously vetted. Ultimately, each of the accounting and consulting notables was chosen for her career achievements and involvement in industry and community organizations— and at times her efforts to help New York rebound from the coronavirus. Read their biographies and learn how the members of this remarkable cohort keep the gears of business whirling.
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VICTORIA ABRAMOV
OLAMIDE AJIBESIN
NAIDIRA ALEMOVA
MARTA ALFONSO
CAROL ALVAREZ
DAW
Tax partner Berdon LLP
Managing director of transaction advisory services practice Anchin, Block, & Anchin LLP
Senior managing director FTI Consulting
Principal MBAF
Director CBIZ & MHM
Part Prag
Money laundering, bribery, corruption: these infractions, among others, have been investigated by Naidira Alemova for more than two decades. Alemova is now a senior managing director in the financial services practice at FTI Consulting, but she previously held senior compliance positions with global and U.S. financial institutions and consulting firms. Her vast experience includes executing anti-money laundering, sanctions and fraud risk assessments; investigating bribery, money laundering and corruption; tracing and recovering international assets; and looking into questionable wire transfers and counterfeit checks. Alemova, who speaks multiple languages, has done this work on behalf of global and regional banks and insurance companies—occasionally in connection with Justice Department investigations.
Marta Alfonso has quite the résumé. Trained as both an accountant and an attorney, the principal in the management advisory services department of the accounting firm MBAF marshals her experience in a wide range of financial and legal issues. Those issues include—but are not limited to— forensic accounting, insolvency and bankruptcy, restructuring, financial management, litigation support, economic damages, money laundering, embezzlement, shareholder disputes, family law and technology consulting. In the public sector, Alfonso has held roles at the Department of Housing and Urban Development, where she advanced financial accounting systems and oversaw management functions. Crain’s New York Business and the South Florida Business Journal have recognized her achievements. Alfonso’s work has been published in many legal and business publications.
As an ambassador of CBIZ & MHM’s family-office services group, Carol Alvarez provides an assortment of services to the advisory firm’s high-net-worth individuals, families and their businesses. For starters, she reviews financial statements, assembles budgets and serves as an intermediary between clients and their attorneys, actuaries, investment managers and insurance brokers. For her clients, Alvarez also works on concierge services, such as interviewing and hiring household staff, monitoring car collections for insurance purposes, arranging mortgage financing and sourcing appraisers to value estates. What’s more, Alvarez, a nearly three-decade veteran of the accounting field, is responsible for the day-to-day administration of her department at CBIZ & MHM.
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It came as no surprise to those who know her, when Victoria Abramov was interviewed by Bloomberg BNA and Bisnow on the topic of estate planning issues. After all, the partner at the accounting firm Berdon boasts a quarter-century’s experience advising clients— family offices, hedge funds, private-equity funds, real estate investments, trusts and the like—on a sweeping array of tax and other issues: complying with Generally Accepted Accounting Principles and REIT rules, mitigating exposure and risk, improving efficiency and pursuing tax-saving opportunities. Abramov is skilled at guiding clients and their attorneys in the administration of trusts and estates, and at preparing and evaluating financial forecasts. Abramov arrived at Berdon following a senior position at a Big Four public accounting firm and a national real estate investment company. With her fluency in Russian, she has proved an asset in representing foreign nationals in the U.S. and American nationals abroad.
When Olamide Ajibesin provided due diligence services and accounting advice during L’Oreal’s acquisition of Thayers Natural Remedies, it was just the latest in the more than 150 deals she’s helped execute for private-equity funds and strategic acquirers. When she joined the public accounting firm Anchin in 2019, Ajibesin brought nearly two decades of private-equity experience in a variety of industries, including energy, telecommunications, media, food and beverage, retail and health care. Ajibesin was tapped to drive Anchin’s transaction advisory practice and expand its team— the first woman in the company’s history to do so. Her previous employer was on to something when it recognized Ajibesin for her stellar work ethic and impressive track record: she was among Crain’s Notable Women in Accounting last year.
There were 1.26
million accountants and auditors working in the U.S. in 2018. The market size of the U.S. accounting services industry is $110.7 billion. Sources: Statistica, IBIS World
14 | CRAIN’S NEW YORK BUSINESS | September 28, 2020
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CAMILLE ASARO
ANITA BAFNA
JENIFER BECKER
SHEBA BELLAZAIN-HARRIS
CATHERINE BENDALL
Audit partner KPMG US
EY Americas Financial Services Advisory Partner EY
Principal Karp Strategies
Managing director FTI Consulting
Partner Withum
Jen Becker’s work is driven by a laudable motive: improving communities by making them more inclusive, resilient, and sustainable. As principal at Karp Strategies, a NYC urban planning advisory firm, Becker oversees the company’s offshore wind projects. For instance, she recently helmed Karp’s creation of a stakeholder engagement strategy for Atlantic Shores, a leader in that industry. Throughout her efforts, Becker combines her expertise in clean energy, economic development, and infrastructure to create jobs and support low-income communities. She teaches at the Pratt Institute’s Graduate Center for Planning and Environment, where she also mentors students embarking on careers in urban and regional planning.
Marketing is a common enough occupation, but how many professionals drive communications and business development for a more than $720 million global business with more than 1,500 employees? Sheba Bellazain-Harris does just that for FTI Consulting. She generates programs that prompt revenue growth, internal collaboration and increased engagement in the markets FTI Consulting serves. She also oversees internal communications and the integration of large-scale projects, such as segment acquisitions and select onboarding processes. Bellazain-Harris works with colleagues in the finance and human resources departments to create and implement programs for client engagement and investor-focused initiatives— wielding her considerable expertise in business development, sales operations, research and content marketing.
Catherine Bendall’s forte is not-for-profit and governmental audits. As a partner at the public accounting firm Withum, she oversees audits for government-funded agencies on the federal, state and local levels. Bendall is proficient in the accounting and reporting procedures and policies of not-for-profit organizations at home and abroad. She has worked in audit for more than three decades and has considerable experience working with institutions of higher education and international schools. In addition to her CPA certification, she is a licensed public school accountant and a chartered global management accountant. Bendall shares her extensive tax and audit know-how by speaking and writing regularly on those topics.
With almost three decades of auditing, accounting and strategic planning behind her, Camille Asaro is a leader in her field. The partner at KPMG, the multinational professional services giant, has deep-yetbroad expertise in financial reporting, internal controls, valuation, governance, forward exchange contracts, futures, and alternative investments, which is her specialty. Asaro is the global lead audit partner for private investment companies with assets under management up to $160 billion. As an ardent participant in KPMG’s diversity and inclusion efforts, she has helped women achieve professional success and high-level positions. Asaro is a board director for the Women Corporate Directors Foundation and a founding contributor to the Women in Alternative Investments Report. She is frequently a speaker at industry conferences.
Anita Bafna’s motto: “Grow together.” Translation: She is constantly striving to improve herself and help others advance professionally. It’s that outlook that led to Bafna’s creation of networks for industry professionals to learn from one another’s insights and experiences. For example, she established a regulatory reporting practice at the professional services giant EY that brings regulatory professionals together for informative roundtables and symposiums. Not surprisingly, her see-a-need-and-fill-it approach serves Bafna’s clients. As a market segment leader for EY’s Metro New York Banking and Capital Markets group, she identifies and pursues areas of potential transformation on behalf of clients looking to grow, change or make an impact.
DAWN BERGEN
SHARON BRENNER
KAREN BRODSKY
KATHRYN BYRNE
ANGELA CHEN
Partner-in-charge of audit Prager Metis CPAs
Principal Janover LLC
Tax partner Deloitte
Partner Mazars
Partner EisnerAmper
Dawn Bergen is credited with a remarkable expansion feat at Prager Metis: since she assumed sole oversight of the accounting firm’s audit practice last year, the size of that crucial department has doubled. This rapid growth occurred through combinations with other firms and organic growth as the firm added industry lines. Keenly aware of the new demands precipitated by these shifts, Bergen has revamped and successfully implemented industry-leading policies and new procedures governing audit departments in the firm’s 17 global offices. Bergen, an essential part of Prager Metis’ due diligence committee, is charged with assessing the audit procedures of incoming firms.
When Sharon Brenner was recently named vice chair of the accounting and review services committee of the New York State Society of Certified Public Accountants, the organization did itself a good turn. Brenner, who has more than three decades of accounting experience, is the principal-in-charge of the quality control department at the accounting firm Janover. In that role, she applies audit and accounting standards to a range of industries, oversees staff and supervises the department’s day-to-day operations. In addition, Brenner performs technical audit research for clients and manages Janover’s internal inspection and peer review process. She is a presenter at in-house seminars. Brenner is a passionate supporter of several cancer research organizations.
JD, LLM, M.B.A., CPA—Karen Brodsky’s name is followed by an incredibly impressive number of credentials. As she leads the firm’s East Region Private Wealth and and the U.S. International Private Wealth practices, she has found success far beyond her extensive academic training. Brodsky specializes in serving private clients domestically and abroad, including domestic and multinational families and family offices, for the professional services network. In addition, she has participated in various Deloitte committees and has served on its global advisory council. Brodsky, who previously served as a tax co-leader for Deloitte’s Women’s Initiative, volunteers her time to mentor junior industry professionals.
In 2016, Kathryn Byrne wrote an article in the Journal of Accountancy, “The World is Getting Smaller and Most Clients Are Global.” As an expert provider of tax services to both domestic and foreign corporations, Byrne is certainly qualified to speak to that point. She is a partner at the global accounting and consulting firm Mazars USA and boasts more than 30 years’ experience delivering accounting, auditing, tax and consulting services for clients in an impressively diverse lineup of industries, including cosmetics, import and export services, information technology, software, paper products and telecommunications. Byrne is a member of the firm’s Group Governance Council. She leads the Women@Mazars Champions Committee.
High-net-worth individuals, wealthy families and executives of major companies routinely turn to Angela Chen for her tax planning and consulting skills. She is a partner at the advisory and accounting firm EisnerAmper with more than 20 years in the field—and she has the expertise to show for it. Chen tackles income tax matters, trust and estate issues, and foreign transaction reporting for her discerning roster of clients. Chen is proficient in tax controversy matters, and she is co-founder of EisnerAmper’s Asian practice group, which provides tax advisory services to domestic and international Asian clients in a host of industries. That effort has borne fruit: Chen is credited with increasing her firm’s visibility in the Asian community, with the Asian-American Business Development Center naming her one of the outstanding 50 Asian-Americans in business for 2018.
Christine Ross, the first female accountant in the U.S., took New York’s CPA exam in 1896. In 2019 women made up 61.7% of accountants and auditors in the U.S. Sources: National Association of State Boards of Accountancy, Catalyst September 28, 2020 | CRAIN’S NEW YORK BUSINESS | 15
NICHOL CHIARELLA
PAMELA CIANCIOTTA
KATE COLLIGNON
BEVERLY GINSBURG COOPER
JANIS COWHEY
Tax partner Citrin Cooperman
Partner Marks Paneth LLP
Partner HR&A Advisors
Managing director Huron
Partner Marcum LLP
Nichol Chiarella has come a long way since the start of her career, when she conducted internal control audits for not-for-profit clients at a small upstate New York firm. Now a tax partner at the national accounting company Citrin Cooperman, Chiarella holds various leadership roles within the tax department and in the firm generally. In recent days, she was one of eight professionals selected to Citrin Cooperman’s Covid-19 response unit for their knowledge of the evolving laws and standards brought about by the pandemic. Chiarella is co-chair of CC EDGE, which stands for Empowering Diversity and Gender Equality. Its goal is to foster a more inclusive company culture. Chiarella has used her financial expertise even in her off-hours; she has been the treasurer for a number of not-for-profit organizations, including the Hudson River Museum and Rebuilding Together Dutchess County.
Initiated in January, Pamela Cianciotta is one of the newest partners at the accounting, tax and advisory firm Marks Paneth. As a member of the company’s commercial business group, Cianciotta advises clients, who hail from the manufacturing, wholesale, distribution, media, advertising and real estate realms, on a suite of financial issues. She leverages her experience as a woman in a traditionally male-dominated industry to give other females a boost; she is an active participant of Marks Paneth’s Leadership Empowerment Advancement Diversity Success initiative, which promotes the professional development and retention of women at the firm. Recently, she organized an event for female professionals at the firm’s Woodbury office, that allowed them to network with a leading Long Island law firm.
Kate Collignon says cities should be built upon the bedrock of sustainability, inclusivity and community-mindedness. It’s that guiding focus that drives her work at HR&A Advisors, a real estate and economic development consultancy. Collignon works in both the public and private sectors to manage development initiatives and forge partnerships that push for equitable urban expansion. She deals in open-space investments and creates district plans that encourage and sustain economic growth. Collignon, who previously was senior vice president for development at the New York City Economic Development Corp., has worked with NeighborWorks America, which provides opportunities for people to find affordable housing. She has taught at New York University’s Wagner School of Public Service.
With strategic planning and operational improvements, Beverly Ginsburg Cooper enhances an industry otherwise fraught with unknowns: cancer care. As a managing director at Huron Consulting Group, a consultancy offering services in the health care, commercial and higher education realms, she guides cancer centers and academic institutions through drafting various plans, making internal improvements and working on compliance management. Cooper, who has more than 20 years in the consulting field, is a former executive at the Cancer Center Administrative Forum and a sought-after adviser to many cancer care leaders. She has been the senior vice president for research at the Dana-Farber Cancer Institute and the executive director of the University of Pennsylvania’s Abramson Cancer Center, among other senior roles.
Janis Cowhey has made impressive inroads in financial planning for nontraditional families. At the public accounting and advisory firm Marcum, her practice focuses on estate, gift and income tax planning; financial planning for same-sex and unmarried couples; individual and fiduciary tax compliance; and providing corporate counsel. Cowhey, a member of Marcum’s trusts and estates practice group and national practice leader of its modern family and LGBT services practice group, routinely works with high-net-worth clients to develop comprehensive estate plans. In particular, she helps LGBT families navigate the complexities of financial planning. In addition, Cowhey advises business owners on strategy, succession planning and shareholder agreements. She lectures regularly on estate planning topics, and she has been quoted as an expert on LGBT issues by media outlets, including The New York Times.
CORINNA CREEDON
MAGDALENA CZERNIAWSKI
CANDACE DAMON
KATHLEEN DARMSTADT
LISA DONAHUE
Managing director BKD CPAs & Advisors
Partner Marks Paneth LLP
Vice chairman HR&A Advisors
Corinna Creedon is a self-starter. For proof, one need look no further than her experience running her own consulting firm, whose specialties included outsourced and interim CFO engagements and special projects management. She is now a managing director for the accounting and advisory firm BKD, leading its New York not-for-profit advisory services practice. In the wake of the pandemic, Creedon also has shouldered the responsibility of leading the office’s Small Business Administration-Cares task force, which helps clients optimize their Paycheck Protection Program loan forgiveness. Creedon began her career in audit at Deloitte, and today she is known as an able leader with a record of effective communication with C-suite stakeholders. In addition, Creedon is an enthusiastic board member of the Book Fairies, which fosters literacy in underserved communities.
There are professionals who remain siloed in their chosen niches, and there are those who disseminate their industry observations to a broader public; count Magdalena Czerniawski in that latter group. Czerniawski, a partner in the nonprofit, government and health care group at the accounting firm Marks Paneth, is an established authority on tax services for charitable organizations, schools, social welfare organizations and private foundations. She regularly shares her accounting acumen, publishing accounting-related articles and speaking at industry seminars. Recently she was named chair of the exempt organizations committee of the New York State Society of Certified Public Accountants. Czerniawski is recognized as a steadfast proponent of women in the accounting profession. She is treasurer at St. Casimir Polish Supplementary School, where she also teaches students about the Polish language and culture.
Cities across North America have benefited from Candace Damon’s real estate and economic development savvy. The vice chairman at HR&A Advisors has particular expertise in supporting planning efforts in large revitalization projects, assessing the long-haul viability of urban open space, helping nonprofits and other institutions with organizational planning, directing downtown and waterfront redevelopment, and tackling the financial hurdles of making commercial and multifamily residential buildings energy efficient. Damon, an alumna of Harvard Law School, has served on the boards of several nonprofits, including the Urban Green Council and New Yorkers for Parks. She is a board member of the City Parks Alliance. Before joining HR&A, she worked as a real estate associate at Webster & Sheffield.
Vice president for finance Parker Jewish Institute for Health Care and Rehabilitation
Managing director and global co-lead of turnaround and restructuring services AlixPartners
In the healthcare crisis that struck New York unawares this year, Kathleen Darmstadt strove to do her part to protect the city’s most vulnerable. Leveraging her financial prowess for the Parker Jewish Institute for Health Care and Rehabilitation, Darmstadt sought to procure personal protective equipment when that was no small task, and she navigated thorny budgetary issues to keep the organization afloat. Generally, she is responsible for the fiscal soundness of the health care center, overseeing cash management and payroll processing for its staff of more than 1,200—and Darmstadt takes pride in the role she plays in supporting the center’s residents. Before joining Parker, she worked at a major teaching hospital in the city and oversaw finance and accounting at a human services agency.
The median salary for U.S. accountants in 2018 was $70,500. Source: U.S. News & World Report
16 | CRAIN’S NEW YORK BUSINESS | September 28, 2020
When Aeromexico, the flag carrier airline of that country, was undergoing a Chapter 11 process, Lisa Donahue swooped in to guide the struggling airline through that turbulence. That wasn’t her first such rescue mission. For more than two decades, she has advised companies through corporate transformations. Via complex negotiations and operational restructurings, she has successfully delivered many an about-face to underperforming companies. Donahue, who at times acts in interim executive roles, is a member of the Council on Foreign Relations and a board member for philanthropic organizations. She was recipient of the Red Cross’ Women Who Lead Vanguard Award this year and the Catholic Renewal’s St. Francis Service Award in 2019.
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XIXI DONG
ROXANA FARIBORZ
CHRISTINE FENSKE
JAMIE FOWLER
SYLVIE GADANT
Director Marks Paneth LLP
Managing director FTI Consulting
New York managing partner Baker Tilly
Chief transformation officer Grant Thornton LLP
Not-for-profit organizations come in many shapes and various sizes: large social services agencies, third-party funded organizations, educational institutions, charities, foundations and fundraising groups, to name just a few. Ready to serve them all is Xixi Dong, a director in the nonprofit, government and health care group at the accounting firm Marks Paneth. Dong has 13 years’ experience supervising audit engagements for nonprofits. She also leads audits of employee benefit plans. Dong is a student mentor at her alma mater, Baruch College, and she is an active participant on the diversity and inclusion committee of the New York State Society of Certified Public Accountants.
Roxana Fariborz is a Bear Stearns high-yield analyst-turned-Morgan Stanley equity research analyst-turned-Needham & Company managing director-turned-FTI Consulting managing director and member of its private capital advisory services. Those experiences— accrued over 25 years—are leveraged by Fariborz regularly as she advises on activist engagements and mergers-and-acquisitions situations. She has worked to develop metrics and weightings for FTI Consulting’s vulnerability screener. With Fariborz’s decades of institutional sales experience at asset managers and hedge funds, it comes as no surprise that she moderates panels and speaks at industry events on the strategic management of risk in emerging markets, among similar topics.
Christine Fenske has done a lot for Baker Tilly since hopping on board in 2004. For starters, she’s landed some of the consulting firm’s largest clients while positively influencing its corporate culture. These days, Fenske oversees three of Baker Tilly’s offices in the New York area and serves on its board of partners. The kudos goes to her for the firm’s Flexible Work Arrangement Policy, a work-life balance initiative she established. Fenske continuously promotes environment-enhancing programs at the company. Her past and present community involvements include time as a board member of the United Way of New York City, which helps low-income New Yorkers achieve self-sufficiency, and of the ProHealth Care Foundation, which works to improve the health of the residents of Waukesha County, Wisconsin.
Jamie Fowler’s position at the accounting firm Grant Thornton has taken her many places: Silicon Valley to forge alliances with tech companies; India to establish a shared services center; and Capitol Hill to meet with congressional representatives. As the leader of enterprise transformation, Fowler works with an 8,500-member team to help clients address business problems through tax and advisory expertise, data analytics and frontline technologies. It’s a small wonder that Fowler is the one leading that charge with her 35 years’ experience as a change agent, structuring organizations for clients around the world. In the interludes between engagements, Fowler serves on the board of the Manhattan Theater Club.
Partner and transaction advisory services practice leader Citrin Cooperman
MELA GARBER
DIANE GIORDANO
ROZLEEN GIWANI
KAREN GOLDBERG
HARRIET GREENBERG
Tax principal and tax leader of Anchin Private Client Anchin, Block & Anchin LLP
Partner, tax and business Marcum LLP
Tax partner Grassi
Principal EisnerAmper
Co-managing partner Friedman LLP
When Diane Giordano joined Marcum in 2005, she already had 17 years at big-league accounting firms under her belt. Which is why, in part, she’s succeeded so notably at the public accounting and advisory services firm. At Marcum, Giordano provides multiple-state companies and family-owned businesses with tax consulting, financial statement disclosure and compliance services. She serves several Securities and Exchange Commission reporting entities, and she is editor of Marcum’s newsletter, Beyond the Numbers. Giordano, who helps produce the Marcum Year-End Tax Guide, is a regular instructor on tax-related technical topics. She presents frequently on industry panels, and she has received multiple business awards.
Rozleen Giwani is a tax mitigation marvel. With her practiced tax-saving maneuvers, the partner at the accounting and consulting firm Grassi charts wealth preservation goals and ensures compliance for S corporations, C corporations, partnerships, and high-networth individuals. Giwani has vast experience in estate planning, including gifting and various trust and estate structures. Her expertise extends to Grassi’s financial services practice, where she consults on hedge funds, private-equity funds and broker-deal clients. In previous positions, Giwani provided tax planning and compliance services for corporations, investment partnerships and financial services entities. Before joining Grassi, she was a tax partner at a New York City accounting firm.
Karen Goldberg, a past president of the Estate Planning Council of New York City, is a principal in the personal wealth advisers group at the accounting and advisory firm EisnerAmper, where she leads the trust and estate practice in the firm’s New York office. Goldberg provides estate planning services for closely held business owners and corporate executives, among other wellheeled individuals. She also oversees a tax compliance practice. She extends her expertise to U.S. gift, estate and income taxation and how they apply to foreign nationals. Goldberg, a lawyer, lectures regularly on trust and estate topics at industry conferences.
Harriet Greenberg provides accounting and tax services to a host of industries—some glitzy, others sartorial, a few creative. As a co-managing partner at the accounting and consulting firm Friedman, she helps companies in the diamond, jewelry, fashion, distribution and manufacturing arenas boost their efficiency and profitability. Greenberg has worked on initial public offerings, reverse mergers, transactions involving employee stock owners’ plans, due diligence audits and significant acquisitions. She spearheads Friedman’s Women’s Development Network, is a board member of the Fashion Service Network, and an advisory board member of the Fashion Institute of Technology’s department of entrepreneurship. She has won industry and community service awards.
Destabilizing life events, such as divorce and the death of a spouse, often spell not just emotional distress, but financial distress as well. As tax principal at the accounting firm Anchin and leader of its trusts and estates, private client, and matrimonial advisory services, Mela Garber works closely with divorcees and widows to navigate new financial landscapes. That happens by way of creating cash budgeting programs, teaching financial independence and providing tax planning services. Garber guides trustees and executors through distributing assets, funding bequests, maximizing savings and establishing family foundations. She speaks and writes regularly on tax planning issues pertaining to women and on methods for minimizing income taxes on trusts.
When French native Sylvie Gadant was named a U.S.A. Top Woman Dealmaker by Global M&A Network in 2019, the honor was well deserved. The partner and transaction advisory services leader at the accounting firm Citrin Cooperman coordinates buy-side and sell-side due diligence services for private-equity firms, independent sponsors, family offices and strategic buyers. Applying her understanding of key performance indicators, working capital requirements and risk areas, Gadant has advised on more than 250 transactions: platform investments, add-on acquisitions, carve-outs, leveraged recapitalizations and minority investments—she has been recognized for her expertise time and again. Gadant has been invited to speak at several industry forums, she has been featured in Forbes and Crain’s New York Business, and she has received several prestigious industry awards.
The first management consulting firm, Arthur D. Little, was founded in 1886 by a Massachusetts Institute of Technology professor of that name. Source: Tom Spencer
18 | CRAIN’S NEW YORK BUSINESS | September 28, 2020
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SHERRI GUIDONE
JENNIFER HOFFMAN
SALLY HOFFMAN
HEATHER HORN
NATALIE DEAK JAROS
Partner PwC
Partner and northeast diversity and inclusion leader Grant Thornton LLP
Senior advisor Berdon LLP
Partner PwC
What do the Ford Foundation, Barnard College, Cold Spring Harbor Laboratory and the Girl Scouts have in common? All have been adroitly serviced by Jennifer Hoffman, a partner in Grant Thornton’s national higher education and not-for-profit industry practice. With almost 25 years’ experience in this domain, Hoffman serves as an engagement partner and subject matter specialist for the accounting network’s not-for-profit clients, particularly in the area of benefit plans. She is chairperson of the American Institute of Certified Public Accountants’ not-for-profit expert panel. Hoffman is active in various community programs and has collected several industry awards. She speaks regularly at industry events and internal seminars.
Sally Hoffman has long participated in the standard-setting process for the accounting industry and has served on all three senior technical committees of the American Institute of Certified Public Accountants. That’s what happens when you’re a nationally recognized authority in the field. Hoffman is a senior adviser in the litigation, valuation and dispute resolution group at the accounting firm Berdon. In addition, she is a noted expert in litigation consulting, auditing principles and standards, fraud investigations, contract and business disputes, and forensic accounting. Proof positive of that expertise: she has been retained as an expert by the Securities and Exchange Commission and the U.S. attorney’s office. Hoffman is founder and a past president of the Westchester-Fairfield chapter of the American Society of Women Accountants.
Heather Horn is the backstage mastermind of PwC’s accounting communications strategy. As head of the well-known professional service network’s thought leadership and standard-setting group, Horn is the firm professional who is charged with imparting PwC’s positions on finance and accounting matters to interested parties within and outside the accounting and related industries. Horn, who serves as the U.S. representative to PwC’s global accounting consulting services leadership team, is host of the firm’s accounting podcast as well as its webcast series. She serves as the national office-leading specialist in power and utility technical matters under U.S. Generally Accepted Accounting Principles and International Financial Reporting Standards.
Wealth and asset management co-leader and assurance leader EY
ROBIN JONES
AMI KAPLAN
SURI KASIRER
MELISSA KERSHNER
YUNSOO KIM
Principal and U.S. workforce transformation leader Deloitte
Senior partner and vice chairman Deloitte
President Kasirer
Controller Aurora Contractors, Inc.
Managing director FTI Consulting
When Working Women featured Ami Kaplan as a cover subject, it was because she’s an exemplary member of that target audience. Kaplan, a senior partner and vice chairman at Deloitte, advises on some of the professional services network’s most complex client cases: business risk management, financial and organizational challenges. She also is charged with fostering positive working relationships with senior executives and overseeing the projects delivered to them. Kaplan was the first partner-incharge of Deloitte’s women’s initiative for the tristate region. She has been a member of the firm’s U.S. board of directors. Kaplan, a veteran lecturer, is a past president of the Women’s Forum of New York.
Kasirer, founded in an Upper West Side studio apartment in 1997, is a leading New York City lobbying company with a firm grasp of government workings and a long record of championing people and the policies they need. That success can be chalked up to the efforts and talents of the woman for whom the firm is named: Suri Kasirer, who has been an advocate for clients in industries, such as education, culture, real estate, technology, health care and media. For that reason, she has been recognized as an influential leader several times over. Kasirer is on the boards of the New York League of Conservation Voters, Citymeals on Wheels and the Women’s Leadership Forum. At one point she worked on Gov. Mario Cuomo’s executive staff as his special assistant.
When Melissa Kershner leads her 10-year-old daughter’s Girl Scout troop, she feels she’s helping young girls build their own successes. That sort of female empowerment is also Kershner’s lodestar at work, where she is a controller for the construction management, contracting and design firm Aurora Contractors. Kershner is dedicated to increasing the role of women in the industry, based on the view that they bring new perspectives to the construction world. She received the 2019 Women in Construction Award from Constructech magazine for her use of technologies to streamline work systems and boost profitability. In addition, she received the 2019 Outstanding Women Award from the Women Builders Council.
Yunsoo Kim has a long and impressive career trajectory. She is managing director of real estate solutions at FTI Consulting, where she specializes in valuation for asset acquisitions, divestitures, financing and financial reporting. Earlier, Kim was a director at Duff & Phelps, where she focused on valuation and assurance for real estate assets owned by private-equity and multinational clients. Before that, she was a director of corporate finance for CNL Income Corp., an Orlando, Florida-based private real estate investment trust company. Earlier in her career, Kim was a regional pricing analyst for GE Real Estate in Seoul and a manager for PwC’s financial advisory services group. All told, she has reviewed investments in excess of $1 billion.
Sherri Guidone recently began hosting a well-received Tech Talk series, which is a side hustle that dovetails quite nicely with the PwC partner’s day job as U.S. assurance technology leader. In that position she has primary responsibility for the delivery, oversight and quality assurance of the professional services network’s audit software tools. She espouses “democratizing innovation,” and the firm has developed a digital fitness app to assist auditors and others upgrade their tech skills. Guidone, a certified public accountant, joined PwC almost three decades ago. Before her current role, which she took on in 2015, Guidone was a client service partner in the technology, manufacturing and defense sectors. She has experience in mergers, acquisitions, divestitures and initial public offerings.
Robin Jones confers regularly with elite academic institutions to discuss how data, technology and social changes are influencing the world of work. That’s part of her job as leader of Deloitte’s future-of-work initiatives, the goal of which is advising senior executives as they contemplate how data, technology and societal changes affect work, their workforces and workplace strategies. Jones, formally the U.S. workforce transformation leader, has been in this line of work for more than two decades and is responsible for the offerings, assets, people and client services involved in these transformations. She serves on the marketplace leadership team at Deloitte, the multinational professional services network. Jones holds a Ph.D. in civil and environmental engineering from Georgia Tech.
Natalie Deak Jaros has a finger in every pie. As co-leader of wealth and asset management—a $1 billion practice—at the professional services network EY, she is charged with a multitude of leadership duties and client responsibilities. On top of that, Jaros worked on the recent EY Alternative Fund Symposium in leadership and speaking roles. She spearheads the EY Alternative Manager and Investor Survey—an impressive bit of thought leadership—and has participated in interviews for several industry publications because of this role. Jaros, an avid promoter of diversity and equity in the workplace, has led related events at EY. But that’s still not all: Jaros is treasurer of Help for Children, which is committed to preventing and treating child abuse worldwide. In addition, she is on the board of a charter school in Harlem.
The earliest known accounting records were discovered among the ruins of ancient Mesopotamia, a civilization in which accounting was important for recording crop and herd growth. Source: Fremont College
20 | CRAIN’S NEW YORK BUSINESS | September 28, 2020
LISA KNEE
JAYME KOSZYN
SOOKYOUNG LEE
LADIDAS LUMPKINS
Tax partner and co-leader for the national real estate private-equity group EisnerAmper
Founder Koszyn & Company
Tax senior manager CBIZ & MHM
For Jayme Koszyn, founder of a top fundraising firm in the city, the coronavirus has meant creating new initiatives to help clients weather the pandemic’s attendant challenges. Koszyn & Company, which specializes in capital campaigns and strategic planning has, since its founding in 2003, raised hundreds of millions of dollars for more than 140 nonprofits and for-profit businesses. Before founding the firm, Koszyn was a senior executive at the Brooklyn Academy of Music. There, she produced and presented work, served as a stage director and dramaturge in major regional theaters around the country, and co-wrote BAM: The Complete Works, which won the Special Jury Prize from the Theater Library Association. In addition, Koszyn received the Award for Services to Our Youth from the Bedford Stuyvesant Restoration Corporation. She is a magna cum laude alumna of Princeton University, and has graduate degrees from Boston and Columbia Universities.
Sookyoung Lee understands that financial decisions can be daunting for the layperson. With patience and tact, Lee smooths and simplifies financial processes for family groups, high-net-worth individuals, corporations and nonprofits. The senior manager at the professional advisory services firm CBIZ & MHM uses her deep knowledge of income tax preparation and planning to guide clients through complex financial decisions. Lee is also the financial director of the Chogye International Zen Center. She is an active member of the Workers Circle, a social justice activism group. Her education was an intercontinental affair: Lee received a bachelor’s degree from Soongsil University in South Korea and a master’s degree in accounting and taxation at the University at Albany, SUNY.
Partner-in-charge of private wealth services Prager Metis CPAs
Lisa Knee’s real estate and tax planning knowledge has been sought after by Bloomberg and FundFire, both of which have featured her remarks in their publications. That’s not to mention the numerous real estate owners and developers, hospitality companies, restaurant groups and financial services firms that have likewise sought her expertise. Knee, a tax partner at the advisory and accounting firm EisnerAmper, specializes in a suite of real estate transactions, such as acquisitions, refinancing, like-kind exchanges and joint venture agreements. She is skilled at using private real estate investment trusts in fund structures, and she has worked on domestic and international tax structuring for portfolio companies and management companies. Knee, who frequently moderates at industry panels, is a three-time Bisnow honoree.
22 | CRAIN’S NEW YORK BUSINESS | September 28, 2020
Outside her day job, Ladidas Lumpkins is vice president of the Estate Planning Council of New York City. That’s no doubt a distinguished title, but it’s a warranted one for a partner-incharge at the accounting firm Prager Metis. Lumpkins, who holds a law degree, is a specialist in strategic tax planning, compliance, consulting, and the U.S. taxation of individuals and trusts. She advises high-net-worth families and their businesses on these matters, as well as on domestic and international income, gift tax and estate tax issues. Lumpkins has broad teaching experience in tax topics—including as a visiting lecturer at Tufts University— and is an active member of the Society of Trust and Estate Practitioners.
The first time the symbols used for plus and minus appeared in a printed book was in Luca Pacioli’s 1494 treatise, Summa de Arithmetica, Geometria, Proportioni et Proportionalita, a reference text on record keeping and accounting that was a primer on those subjects for several hundred years. Source: Fremont College
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EVELYN MAGDALENO
GRACE MAK
LIZ MANN
JULIE MANTERIA
Managing director BKD CPAs & Advisors
Principal The Bonadio Group
Partner Friedman LLP
Principal UHY LLP
Deborah Lynch leverages her educational background—in nursing and social gerontology—in an untraditional but important way. At the accounting and consulting firm BKD, Lynch works with health care providers—nursing facilities, home care agencies, hospitals, community-based and supportive housing providers—on strategic planning, development and operational solutions. Those engagements include operational reviews, emergency preparedness oversight, responses to regulatory noncompliance issues, facility planning and clinical operations. She has broad experience working with state regulators and with a bevy of notable organizations. Lynch, a licensed nursing home administrator, has held an assortment of senior administrative positions in nursing facilities.
Evelyn Magdaleno’s career path involves an unorthodox turn: she spent more than 30 years employed as a health care professional working with the developmentally disabled before taking on a rather different role at The Bonadio Group, an accounting and consulting firm, in 2016. Magdaleno, who has a background in leadership development and staff education, is a principal in the firm’s compliance solutions division, where she offers consultation services to not-for-profit organizations. Topics she specializes in include compliance program development, responding to regulatory requests, and management and workforce development. Magdaleno is heavily involved in various events organized at Bonadio, such as its annual Purpose Day, when employees give of their time to nonprofits.
Grace Mak is heavily involved in her firm’s mentoring program— and those staff members assigned to her advisership have truly caught a break. As a partner at the accounting and business consulting firm Friedman, Mak has a wealth of experience in providing audit and tax services to clients in a range of industries, from apparel, restaurant and manufacturing to real estate, advertising and wholesale distribution. That means she plans and supervises audit engagements, issues financial statements, prepares corporate and individual tax returns, and develops tax-related planning projections. In addition, Mak evaluates internal control procedures and helps client businesses plan strategically by forecasting cash flow.
EY Americas life sciences and health cybersecurity leader, talent and D&I leader for America’s cybersecurity EY
High-performing. It’s who you are. At EY, we believe in setting high standards, reaching new heights and empowering high performers. We’re pleased to congratulate Anita Bafna, Natalie Deak Jaros, Liz Mann and Karyn Twaronite for being named to the Crain’s Notable Women in Accounting and Consulting list. Onward!
Liz Mann’s educational background—degrees in pre-med and Romance languages and literature— hardly foretold her career path. As a cybersecurity leader at the professional services network EY, she specializes in identity and access management, identity governance and cybersecurity risk management. Recognizing the lack of gender parity in the field, Mann works to equalize the playing field: she sits on the board of the Executive Women’s Forum, which addresses the challenges women face in industries like Mann’s, and she has spoken at Women Leaders in Cybersecurity and similar events. Frequently she mentors women in the field. Mann is a founding sponsor of the Information Sharing and Analysis Center, which helps health organizations bolster their cybersecurity.
Julie Manteria is the first UHY marketing professional to be promoted to principal—and it’s easy to understand why after a quick review of her accomplishments. Manteria manages all regional marketing initiatives for the Northeast region of the professional services firm, a role that has her serving nearly half of the company’s 21 offices daily. In the past year alone, she worked on the redesign of a website, created award submission packages for partners, and expanded the regional chapter of UHY’s Women Invested in Success and Excellence program. In March Manteria successfully executed the firm’s Covid-19 crisis management services campaign. When she’s not marketing, Manteria is an advisory board member for the Long Island chapter of Junior Achievement, which promotes work readiness and financial literacy in young people.
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DEBORAH LYNCH
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September 28, 2020 | CRAIN’S NEW YORK BUSINESS | 23
COLLEEN MCHUGH
JENNIFER MCLEAN
CANDICE METH
MARIA CASTAÑÓN MOATS
ROBBYE MOHN
LES
Co-partner-in-charge of the alternative investment group Marcum LLP
Chief financial officer Kushner
Partner EisnerAmper
Assurance partner PwC
Managing director Baker Tilly
Jennifer McLean, chief financial officer at the real estate titan Kushner, recently shepherded her team through twin troubles—a global pandemic and volatile markets—while ensuring smooth continuity of service. McLean increased communication with stakeholders, led the information technology department in transitioning to at-home work, and oversaw the human resources office’s pivot to remote hiring. Then again, McLean is used to handling a lot. She supervises all financial management, accounting, human resources and IT functions for Kushner and its affiliates. She monitors cash flow, financial performance and tax, audit and compliance reporting. McLean, who has sat in the CFO seat several times before joining Kushner, was named the 2020 Real Estate CFO of the Year for the tristate area by Acquisition International Magazine.
Candice Meth has spoken for the National Association of Attorneys General, the Association of the Bar of the City of New York, the Nexus Global Youth Summit and the Better Business Bureau—all on not-for-profit topics. That’s her area of expertise as national leader of the notfor-profit services practice at EisnerAmper, the advisory and accounting firm. Meth’s practice includes managing the audits of the financial statements of various not-forprofit entities: independent schools, private foundations, religious organizations and the like. She is highly proficient in the testing and reporting processes required by government regulators, and she has expertise in preparing IRS Form 990. Meth is a former chair of the National Governmental and Not-for-Profit Training Conference of the American Institute of Certified Public Accountants.
Maria Castañón Moats has proved a nimble employee at PwC, where she’s held various positions in discrete areas of practice. Moats is an assurance partner at PwC, leading audits of public and private entities, initial and secondary public offerings, and public debt registrations. She also leads the governance insights center at the professional services network, which connects investors and executives with information on governance and corporate board matters. Moats, who previously served as U.S. assurance leader for the firm, once held the seat of chief diversity officer for PwC U.S. All told, she has nearly three decades’ experience in accounting, financial reporting, and mergers and acquisitions.
When a railcar in California derailed, discharging toxic materials into a river that fed a lake used for recreation, Robbye Mohn determined the economic damages for the hundreds of business claims lodged after the incident. As a managing director in the global forensics practice at the accounting firm Baker Tilly, Mohn works with claims professionals and attorneys to quantify damages brought on by insurance claims and legal disputes with the goal of resolving commercial quarrels. Such damages include business interruption, extra expenses and property damage. Mohn also has inspected losses resulting from natural events, such as Hurricane Katrina and Superstorm Sandy. Before finding her way to forensic accounting, Mohn spent three years in the U.S. Army. She was honorably discharged as a sergeant.
Pres offic Bate
Colleen McHugh is an erudite authority on all things tax. The co-partner-in-charge of Marcum’s national alternative investment group tax department has more than 15 years’ experience in the field, with a particular focus on partnership and private-equity taxation. McHugh guides private-equity funds, their partnerships, and management companies through intricate tax matters on behalf of the accounting and advisory services firm, leveraging her extensive knowledge of partnership taxation and local, state and international tax compliance. That expertise has been applied by many grateful private-equity funds and their portfolio companies. Before joining Marcum in 2013, McHugh spent time at several Big Four public accounting firms.
Congratulations to
JULIE MANTERIA
on being named a Notable Woman in Accounting & Consulting
1185 Avenue of the Americas, 38th Floor New York, NY 10036 (212) 381-4700 | www.uhy-us.com
24 | CRAIN’S NEW YORK BUSINESS | September 28, 2020
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ELIZABETH MULLEN
JENNIFER NEGLIA
LAURA NEWINSKI
President and chief executive officer Bates Consulting Group LLC
Partner Marcum LLP
Risk assurance partner PwC
Deputy chair and chief operating officer KPMG US
Creative, incisive and solution-oriented, Lesia (pronounced Lisa) Bates Moss delivers strategic advisory and implementation services to company executives, nonprofits and small businesses. As an example, consider her work for an underperforming mission-driven financier: Moss helped that organization pull off a business model U-turn, bringing it back to profitability in 18 months. In such operations she strengthens management, revamps strategies and builds engaged teams—a formula that leaves clients delighted time and again. During the pandemic, Moss has helped small businesses access $2 million in Small Business Administration loans and used her corporate insurance background to investigate solutions involving business income claims, resulting in legislation being proposed to the New York Assembly. Moss is on the National Advisory Board of Ron Brown Scholars and the University of Virginia Black Alumni Leadership Council.
Elizabeth Mullen has the sort of expertise—in corporate taxation, Securities and Exchange Commission reporting, mergers and acquisitions, transfer pricing, executive compensation, consolidated returns and tax controversy— that only comes with 25 years in the accounting business. That laundry list of competencies comes courtesy of her experience at an international luxury goods group, a consumer products company, Big Four public accounting firms and, since 2007, the accounting and advisory services giant Marcum. In her role there, Mullen provides services related to her aforementioned proficiencies in the financial services, luxury retail and consumer products industries. She has spoken about and published work on tax and audit subjects.
Today’s Big Four accounting firms— Deloitte, PwC, EY and KPMG—are the largest in the world, offering an extensive array of accounting and auditing services. Before a string of mergers and dissolutions, this group numbered eight, then six, then five. Source: AccountingVerse
Jennifer Neglia is a pioneer in the inexorable march toward complete digitization of financial data. Since starting her career at the global professional services firm PwC in 1998, she has assisted companies with their financial accounting, system transformations, information technology processes and business process controls. Small wonder, then, that Neglia is a leading mind in the financial data digitization space. She serves as PwC’s US XBRL technology leader, a role in which she collaborates with the Sustainability Accounting Standards Board to create a taxonomy for environmental, social and governance disclosures. Neglia, an avid supporter of the performing arts, has served on the finance committee of Interact Theatre. In addition, she has been treasurer of the Philadelphia-based Circadium, the first state-licensed higher education program for circus training in the country.
When Laura Newinski was elected earlier this year to serve as KPMG’s new deputy chair, the outgoing U.S. chair and CEO of the professional services firm called her a “proven leader” with a “long and successful track record driving operational excellence, transformative change, and growth for the firm.” Similar accolades were bestowed upon Newinski by other KPMG higher-ups. She has been an employee of the firm since 1988. Previously she served as the firm’s vice chair of operations and held a number of leadership positions in KPMG’s tax practice. In her new role, Newinski is committed to delivering excellence, inspiring innovation and cultivating an inclusive company culture.
Congratulations to Rozleen Giwani and all of the
Top Women in Accounting
Rozleen Giwani, CPA Partner, Tax Services
grassicpas.com September 28, 2020 | CRAIN’S NEW YORK BUSINESS | 25
LISA OSOFSKY
LAURA PETERSON
TERRY PISSI
ALYSON POTENZA
TAMI RADINSKY
MA
Partner and executive board member Mazars
Managing director and communications, media and technology Northeast business leader Accenture
Accounting and audit partner Anchin, Block & Anchin LLP
Partner Kearney
Partner Grant Thornton LLP
When Terry Pissi joined Anchin as a college intern, little did she think she would ascend to the rank of partner at the public accounting firm. Thirty years later Pissi has indeed secured that position. Serving clients in the construction, distribution, real estate and public-relations industries—family-run firms and closely held businesses, among others—she excels at assisting companies with bonding, financing and tax matters. She’s also one to give back: Pissi chairs the Care Committee at Anchin, which organizes charity and recreational events for the firm, and the Anchin Women’s Initiative Network, which focuses on professional development for the company’s employees. In addition, she is treasurer of the Women Builders Council.
Of late, Alyson Potenza has been channeling her expertise, in conjunction with the nonprofit Partnership for New York City, to help New York get back on its feet from the pandemic. As a partner at the management consulting firm Kearney in its leadership, change and organization practice, Potenza has broad experience revamping operational functions such as end-to-end supply chains and customer service. Her focus is in health care, and she’s worked closely with many executives to define strategies—not to mention efforts within her own firm—to develop initiatives related to performance management, engagement and professional development. In earlier roles, Potenza developed product offerings at CEB (now Gartner) and did investigatory work for the antitrust division of the Justice Department. Her work on organizational design has been published in high-profile media outlets.
In her work for the accounting network Grant Thornton, Tami Radinsky specializes in providing financial services for the health care, higher education and not-for-profit industries. Niche as that expertise may sound, Radinsky makes use of her 20 years of broadbased accounting experience— in helping clients with risk assessments, operational improvements, internal control reviews and regulatory compliance—to inform her current role. Radinsky manages audit engagements, which often involve complex compliance issues, for health care, higher education and not-for-profit institutions. She works with internal controls assessments in patient revenues, financial reporting on clinical activities, physician practices, physician compensation and blood bank reviews.
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You know you’ve arrived in the business world when you’ve been quoted by The Wall Street Journal, Money, Forbes and Bloomberg Businessweek. Lisa Osofsky, one of seven members of the Mazars USA Executive Board, can make such a claim. Osofsky has led the private client services practice at the audit, accounting and consulting firm for 17 years. She is an established adviser to many successful individuals and family groups. Osofsky specializes in assisting clients with tax, financial, philanthropic and estate planning. She is a trustee of the Mazars USA Retirement and Savings Plan. Osofsky is an executive representative to Women@Mazars and the firm’s Inclusion and Diversity Council. She has received numerous industry awards.
Laura Peterson’s résumé lists a whopping 10 positions she’s held at the multinational professional services company Accenture since joining the firm in 2000. In her current role as the Northeast business lead for communications, media and technology, the enterprising ladder climber presides over a team of 3,000 professionals. Peterson is charged with managing a $750 million profit-and-loss statement for clients in the aforementioned sectors as well as the high tech sector. Peterson works with key business leaders among more than 40 clients and within Accenture’s global management structure. Since 2017, she has been a board adviser to Fairygodboss, an online platform that seeks to elevate women in the workplace.
Congratula�ons Prager Me�s is proud to recognize
Lori A. Roth, CPA/ABV, CFF National Managing Partner
Dawn Bergen, CPA Partner-in-Charge Audit
Ladidas Lumpkins, CPA, JD, LL.M. Partner-in-Charge Private Wealth Services
for being honored as Crain’s Notable Women in Accoun�ng and Consul�ng! As a top advisory and accoun�ng firm with offices in North America, Europe, and Asia, Prager Me�s has experts around the world that can provide the level of advice and exper�se you need to make your world, worth more. www.pragerme�s.com Advisory Services | Audit & Accoun�ng | Bankruptcy | Business Management Crisis Response | Interna�onal Services | Tax Controversy | Tax Services 26 | CRAIN’S NEW YORK BUSINESS | September 28, 2020
Advisors & Accountants
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MARY ROPES
LORI ROTH
Partner and national professional practice director Grant Thornton LLP
National managing partner Prager Metis CPAs
All issues related to professional standards, auditing and risk management at Grant Thornton arrive on Mary Ropes’ desk. As partner-in-charge of the national professional practice director group at the accounting and advisory firm, Ropes is charged with addressing those matters—as well as consulting with a diverse collection of businesses on initial public offerings, debt offerings, business combinations, equity instruments and long-lived assets. She has worked in this domain for more than three decades, serving an assortment of industries including automotive, building products, plastics, metal fabrication, apparel and publishing. Throughout her tenure at Grant Thornton, where she has held various leadership positions, Ropes has provided expert service to some of the firm’s largest and most preeminent clients.
Lori Roth believes in close, team-style professional relationships—which is why she is so well-suited to her role as national managing partner at Prager Metis. After all, in that position Roth is entrusted to lead and guide partners and team members across the 17 offices of the accounting firm. As a member of the company’s executive committee, she is credited with spearheading the Women’s Group at Prager Metis, which unites female employees and invites them to share strategies for success. Roth is heavily involved with the New Jersey Chamber of Commerce and is a board member of Unchained at Last, which is dedicated to ending forced and child marriage in the U.S.
EisnerAmper LLP congratulates this year’s Notable Women in Accounting including our colleagues
Angela Chen
Karen Goldberg
Lisa Knee
Candice Meth
September 28, 2020 | CRAIN’S NEW YORK BUSINESS | 27
KATHLEEN RUTCH
ANGELA SADANG
SAREENA SAWHNEY
RANDI SCHUSTER
Partner Sax LLP
Principal and valuation practice leader Marks Paneth LLP
Principal Withum
Principal-in-charge of the trust and estate group Baker Tilly
The advisory, audit and accounting-services firm Sax gained a highly valuable asset when it merged with the accounting firm James D. Miller & Co. in 2019: namely, Kathleen Rutch. She is now a partner at Sax, one with more than three decades of public accounting experience. Rutch’s particular accounting niche is tax compliance and planning for individuals, trusts, estates and not-for-profit organizations. She also provides basic personal financial planning services and prepares fiduciary accountings. At James D. Miller, Rutch was a partner and the in-house network administrator, charged with overseeing all computer programs and processing. She is an active driver behind Sax’s primary fundraising project, a running-walking event in which all proceeds go to St. Joseph’s Children’s Hospital.
Angela Sadang, a native of the Philippines who has studied and worked in the U.S., has routinely proved an asset in addressing the operational challenges American companies face abroad. But her contributions to the accounting firm Marks Paneth run far broader: Sadang is an expert provider of corporate financial consulting services, including business valuations, and is recognized for her expertise in the valuation of intangible assets and intellectual property, such as trademarks, patents, customer relationships and technology. She also contributes her thought leadership—most recently on the financial fallout of the Covid-19provoked shutdown—to the industry. Sadang is the chair of the New York chapter of the Financial Literacy Organization for Women and Girls, which empowers women with the financial knowledge they need to make sound economic decisions.
28 | CRAIN’S NEW YORK BUSINESS | September 28, 2020
New York was the first state to accept the idea of certified public accountants. In 1896 a state law was enacted to provide for the official certification of accounting professionals. Source: Journal of Accountancy
Sareena Sawhney is a detective of sorts, minus the trench coat. Sawhney, a specialist in forensic accounting at the public accounting firm Withum, manages large and complex fraud investigations and other inquiries that require her to sift through large amounts of data—with the aid of analytical software—to detect potential irregularities. The Withum principal has been a testifying expert in fraud investigations, white-collar defense, and trust, estate and commercial litigation matters. She has published articles on these topics in the New York Law Journal and the Metropolitan Corporate Counsel. Sawhney has the qualifications for it. She is a certified anti-money laundering specialist, a certified fraud examiner and a master analyst in financial forensics.
Randi Schuster, who has two legal degrees, is an authority on trusts and estates as principal-in-charge of that group in the New York regional office of the accounting and consulting firm Baker Tilly. She also chairs the firm’s Community of Practice for its private client group. Schuster is valued as a standard-setter too: she helps shape policy on compliance issues related to the preparation of gift, trust and estate tax returns. With more than 30 years’ experience in federal and state taxation, Schuster is proficient in the international trust and estate realm and in a variety of cross-border estate planning issues.
9/24/20 2:32 PM
COURTNEY SHERMAN
IRAIDA STROKOVSKAYA
HYEJIN TAK
MARIA TISO
Managing director Deloitte
Partner Frankel Loughran Starr & Vallone LLP
Partner Frankel Loughran Starr & Vallone LLP
Clients from a bevy of industries—food manufacturing, music publishing, TV production, radio and cable operations, engineering, financial services and investments— have sought Iraida Strokovskaya’s tax, advisory and consulting services for more than 20 years. As a partner in the business tax services group at the accounting and advisory firm FLSV, she helps those clients with federal, state, local and international partnership and corporate tax matters, mergers and acquisitions, and various other accounting issues. Strokovskaya’s engagements encompass private-equity funds, closely held entrepreneurial businesses and middle-market firms. She also conducts analyses for American clients investing overseas and provides support for standard tax compliance issues.
Hyejin Tak studied psychology, sociology and law in her university days, but ultimately she put her strengths to use in the business realm. Tak is a partner in the business services group at the advisory firm Frankel, Loughran, Starr & Vallone, where she concentrates on tax compliance and other similar services for its largest clients. They include private-equity funds, alternative investment vehicles and distressed debt funds. High-net-worth individuals and families routinely turn to Tak for her tax services; she also sits on the advisory board of a family office. Before joining FLSV 12 years ago, Tak worked in the office of a former U.S. senator.
Audit partner and leader of the health care public services audit group KPMG US
Courtney Sherman believes that the success of any business hinges on its relationship with the people it hopes to serve. Sherman, an expert in human-centered design, leads Deloitte Consulting’s innovation practice and works closely with business leaders to solve challenges related to growth. She develops initiatives that prove mutually beneficial to both the end user and the company in question, such as customer experience strategy, concept development and innovation capability building. Her recent projects include designing a patient-provider experience for a Fortune 100 company as well as the newco of a regional insurer. Sherman is an adjunct professor at the Parsons School of Design.
The American Institute of Certified Public Accountants has more than 431,000 members. Women make up about 35% of that number. Source: AICPA
KPMG veteran Maria Tiso has served many of city’s largest health care systems with her tax and audit prowess. Tiso, a partner in the New York health care and not-for-profit practice of the professional services behemoth, leverages three decades’ experience providing audit and advisory services to organizations in those domains. Her expertise includes financial audit, financial due diligence assistance, reimbursement, financial management, and compliance with OMB Uniform Guidance (to aid nonprofits). Tiso’s knowledge of the health care industry spans the workings of a range of organizations: acute care hospitals, home health agencies and long-term-care facilities. She has presented audit updates for the Healthcare Financial Management Association. Tiso is co-chair of the New York chapter of the KPMG Network of Women.
Congratulate CBIZ & MHM PROUDLY
Carol Alvarez & Sookyoung Lee on their recognition among Crain’s
Notable Women in Accounting & Consulting
www.cbiz.com | www.mhmcpa.com MHM (Mayer Hoffman McCann P.C.) is an independent CPA firm that provides audit, review and attest services, and works closely with CBIZ, a business consulting, tax and financial services provider. CBIZ and MHM are members of Kreston International Limited, a global network of independent accounting firms.
30 | CRAIN’S NEW YORK BUSINESS | September 28, 2020
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SOULA TSAMBIRAS
KARYN TWARONITE
MARY VASILESCU
NATALIE VERBANAC
Partner Citrin Cooperman
Partner and global diversity and inclusiveness officer EY
Partner-in-charge of international tax services Wiss & Company, LLP
Partner Marcum LLP
Karyn Twaronite leads a team responsible for the implementation of EY’s Culture Change Continuum, which guides leaders in fostering an inclusive environment. As the global diversity and inclusiveness officer at the professional services giant, she is tasked with driving innovations to maximize the power of EY’s diverse workforce of 300,000 employees across 150 countries. Twaronite’s efforts have made their mark: the firm has been inducted into DiversityInc’s Top 50 Hall of Fame, which honors companies that have shown longstanding commitment to diversity and inclusion, and her views on these topics are regularly cited by major media outlets, such as Forbes, Harvard Business Review and The New York Times. Twaronite is a longtime board member of the United Way of New York City, which assists low-income residents.
Mary Vasilescu is a world-wise asset at the accounting firm Wiss & Company. Vasilescu, an expert in international tax in all its minutiae, advises her clients on the formation and taxation of business ventures, joint ventures and startup enterprises in the United States and around the world. In particular Vasilescu guides clients through mergers and acquisitions, restructuring and international tax planning. Her services include tax compliance, tax research, and proactive tax advice for individuals, corporations and not-for-profit entities. Vasilescu employs an individualized approach in her work, delivering creative custom solutions to address her clients’ objectives.
Under Soula Tsambiras’ shared leadership of Citrin Cooperman’s India office, the affiliate has grown by 300% in less than three years. That’s the kind of production Tsambiras regularly brings to the accounting and advising firm. As a partner in Citrin Cooperman’s New York office, she performs and manages audits, reviews and compilations for a large client base. Tsambiras specializes in franchising, food services and employee benefit plans. She has considerable experience auditing restaurants, food service businesses, defined contribution 401(k) plans and defined benefit plans. In recent months, Tsambiras has helped clients navigate unfamiliar terrain brought on by the pandemic: Paycheck Protection Program loans, FICA payroll deferrals, loan forgiveness and the like. The first-generation Greek-American serves on the board of the Greek School of Plato, which she attended and where her two children now go to learn more about their language and culture.
Natalie Verbanac, an instructor in Marcum’s continuing education training program, has a lot to offer trainees. As a partner at the accounting and advisory firm, Verbanac provides assurance services, including due diligence, audits of financial statements and internal controls, to domestic and international clients. The recipients of her services hail from a number of industries, such as food and beverage, retail, consumer products, health care technology, manufacturing, distribution and advertising. Verbanac, a member of Marcum’s diversity and inclusion committee, has experience auditing Securities and Exchange Commission reporting companies and working with firms undergoing private and public equity and debt offerings. She is president of the Nassau chapter of the New York State Society of Certified Public Accountants.
You’re the toast of the town. We’re raising our glass to the talented professionals serving clients throughout New York. Congratulations to BKD managing directors Corinna Creedon and Deborah Lynch and all this year’s Notable Women in Accounting & Consulting honorees.
Corinna Creedon
Deborah Lynch
Everyone needs a trusted advisor. Who’s yours?
212.867.4000 • bkd.com September 28, 2020 | CRAIN’S NEW YORK BUSINESS | 31
LENKA WILES
ELLEN ZIMILES
JILL ZUCKER
DANA ZUKOFSKY
Partner RSM US LLP
Partner Guidehouse
Senior partner McKinsey & Company
Director BDO
Lenka Wiles sits on the board of advisors for the career advancement group Driven Professionals—and she could just as well serve as its poster child. At the audit, tax and consulting firm RSM, Wiles wields 20 years of public accounting experience to lead engagements with clients in the service, manufacturing and distribution industries. Her client portfolio includes companies that provide services in the architectural, engineering and consulting spaces. Wiles also oversees various audit engagements, and co-leads RSM’s Star Women’s Employee Network Group for its New York office. Earlier she worked on the firm’s national audit and accounting facilitation team and as its New York market international audit leader.
Ellen Zimiles has a knack for righting wrongs and setting things straight. Zimiles, now a partner at the consultancy Guidehouse, boasts more than three decades of litigation and investigation experience involving money laundering, fraud and forfeiture cases. She is a recognized expert in anti-money laundering program development, corporate governance, regulatory and corporate compliance, and public corruption. She has been cited on those matters by The Wall Street Journal and The Financial Times. Earlier she served as an assistant U.S. attorney in the Southern District of New York as chief of the forfeiture unit; she received the Department of Justice’s John Marshall Award for Outstanding Service for her efforts. Zimiles cofounded and led Daylight Forensic & Advisory, a consulting firm that was acquired by Guidehouse in 2010.
In her main job at McKinsey, Jill Zucker advises financial institutions on wealth management, life insurance and alternative investment management. But the mother of three daughters is also founder of the Dual Career Network, a program designed to support the personal and professional development of McKinsey employees and their partners as they balance their careers. Zucker serves as the McKinsey board member for PriceMetrix, a data and analytics provider, and is a leader of McKinsey’s North American Women’s Initiative, which seeks to bolster the recruitment and retention of women. She’s community-minded too: Zucker is spearheading efforts to develop a social impact platform for her office by expanding participation in local pro bono work and other charitable endeavors.
By the time BDO bought SS&G, the financial services firm where Dana Zukofsky was meeting the tax and consulting needs of restaurant clients, she had established herself as one of the savviest professionals in food and beverage. She did that as director of finance for Bold Food, Bobby Flay’s restaurant empire. Today Zukofsky is director of the national restaurant practice at BDO. Adding digital transformation advisory services to her portfolio, she has shined most recently in her efforts to help clients navigate the business-threatening Covid-19 crisis. Zukofsky is deeply committed to charity work: she is involved with City Harvest, which works to end hunger in New York City communities, and with the Bowery Mission, which serves the homeless and impoverished.
32 | CRAIN’S NEW YORK BUSINESS | September 28, 2020
The famed consulting firm McKinsey & Company was deeply influenced by Marvin Bower, its managing director, from 1950 to 1967. He maintained that management consultancies, like doctors and lawyers, should conform to the highest professional codes. Source: Tom Spencer
Advertising Section
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PUBLIC & LEGAL NOTICES Notice of Formation of FRIENDSHIP SC PRESERVATION GP, LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 07/31/20. Office location: NY County. Princ. office of LLC: 60 Columbus Circle, 19th Fl., NY, NY 10023. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to Corporation Service Co., 80 State St., Albany, NY 12207. Purpose: Any lawful activity. Notice of Qualification of LONG ARC CAPITAL LP Appl. for Auth. filed with Secy. of State of NY (SSNY) on 07/24/20. Office location: NY County. LP formed in Delaware (DE) on 04/15/16. Princ. office of LP: 250 W. 55th St., 25th Fl., NY, NY 10019. NYS fictitious name: LONG ARC, 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 DE Secy. of State, 401 Federal St., #4, Dover, DE 19901. Purpose: Any lawful activity. Notice of Qualification of PETRIDES & CO. LLC Appl. for Auth. filed with Secy. of State of NY (SSNY) on 08/03/20. Office location: NY County. LLC formed in Delaware (DE) on 02/05/14. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to c/o George Petrides, 900 Park Ave., Apt. 21A, NY, NY 10021. DE addr. of LLC: c/o Corporation Trust Co., 1209 N. Orange St., Wilmington, DE 19801. Cert. of Form. filed with Secy. of State, Div. of Corps., 401 Federal St. - Ste. 4, Dover, DE 19901. Purpose: Any lawful activity. ADVENTUROUS SPIRITS, LLC, Arts. of Org. filed with the SSNY on 09/ 23/2020. Office loc: NY County. SSNY has been designated as agent upon whom process against the LLC may be served. SSNY shall mail process to: The LLC, 244 Fifth Avenue, Ste E254, NY, NY 10001. Purpose: Any Lawful Purpose. NAIM MATTO 1353 LLC, Arts. of Org. filed with the SSNY on 09/16/2020. Office loc: NY County. SSNY has been designated as agent upon whom process against the LLC may be served. SSNY shall mail process to: The LLC, 666 Old Country Road, Ste 510, Garden City, NY 11530. Purpose: Any Lawful Purpose. Entity Name EZ-Build, LLC with fictitious name EZB NYC, LLC. filed with SSNY on 08/06/2020. Office: Albany County. SSNY designated as agent for process & shall mail copy to: 347 Fifth Avenue, Suite 1402-183, New York, NY 10016. Purpose: Any lawful. Notice of Qualification of APQ 933 BROADWAY NY, LLC Appl. for Auth. filed with Secy. of State of NY (SSNY) on 07/23/20. Office location: NY County. LLC formed in Delaware (DE) on 07/20/20. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to c/o Corporation Service Co., 80 State St., Albany, NY 12207-2543. DE addr. of LLC: 251 Little Falls Dr., Wilmington, DE 19808. Cert. of Form. filed with Secy. of State, John G. Townsend Bldg., 401 Federal St., Ste. 4, Dover, DE 19901. Purpose: Any lawful activity.
KENNETH STILES ADVISORY, PLLC, a Prof. LLC. Arts. of Org. filed with the SSNY on 07/14/2020. Office loc: NY County. SSNY has been designated as agent upon whom process against it may be served. SSNY shall mail process to: The LLC, 111 N. Gardner Ave., Charlotte, NC 28216. Purpose: To Practice The Profession Of Legal Services & Consulting Services. Notice of Qualification of Intergate. Manhattan Office 31 LLC. Authority filed with Secy. of State of NY (SSNY) on 06/12/20. Office location: NY County. LLC formed in Delaware (DE) on 06/02/20. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to: C T Corporation System, c/o Intergate.Manhattan Office 31 LLC, 28 Liberty St., NY, NY 10005. Address to be maintained in DE: C T Corporation System, 1209 N Orange St, Wilmington, DE 19801. Arts of Org. filed with the DE Secy. of State, 401 Federal St, #4, Dover, DE 19901. Purpose: any lawful activities. Notice of Qualification of NEWHOUSE REAL ESTATE PARTNERS LLC Appl. for Auth. filed with Secy. of State of NY (SSNY) on 07/31/20. Office location: NY County. LLC formed in Delaware (DE) on 04/04/06. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to the LLC, P.O. Box 448, Syosset, NY 11791. 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 1559 Boone Avenue L.P. Certificate filed with Secy. of State of NY (SSNY) on 8/ 12/20. Duration: 8/31/2180. Office location: NY County. SSNY designated as agent of LP upon whom process against it may be served. SSNY shall mail process to: 1559 Boone Avenue L.P. c/o The Bridge, Inc., 290 Lenox Ave., 3rd Fl., NY, NY 10027. N ame/address of each genl. ptr. available from SSNY. Purpose: any lawful activities. Notice of Qualification of IKEGUCHI HOLDINGS LLC Appl. for Auth. filed with Secy. of State of NY (SSNY) on 07/20/20. Office location: NY County. LLC formed in Delaware (DE) on 03/31/16. Princ. office of LLC: 109 Greene St., Apt. 4A, NY, NY 10012. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to the LLC, Attn: Edward Ikeguchi at the princ. office of the LLC. DE addr. of LLC: 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. IBIS 91st STREET LLC. Arts. of Org. filed with the SSNY on 09/08/20. 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 Massud Rahbar, 23 Stephen Halsey Path, Water Mill, NY 11976. Purpose: Any lawful purpose.
Notice of Formation of NEWBERRY SC PRESERVATION, L.P. Cert. of LP filed with Secy. of State of NY (SSNY) on 08/03/20. Office location: NY County. Princ. office of LP: 60 Columbus Circle, 19th Fl., NY, NY 10023. Latest date on which the LP may dissolve is 12/31/2119. SSNY designated as agent of LP upon whom process against it may be served. SSNY shall mail process to Corporation Service Co., 80 State St., Albany, NY 12207-2543. Name and addr. of each general partner are available from SSNY. Purpose: Any lawful activity. Notice of Qualification of Bioenergy Devco, LLC. Authority filed with Secy. of State of NY (SSNY) on 06/15/20. Office location: NY County. LLC formed in Delaware (DE) on 10/08/18. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to: 1001 Avenue of the Americas, Ste. 1224, NY, NY 10018. Address to be maintained in DE: 251 Little Falls Dr., Wilmington, DE 19808. Arts of Org. filed with the DE Secy. of State, 401 Federal St., Ste. 4, Dover, DE 19901. Purpose: any lawful activities. Notice of Qualification of STONEBRIAR JL IRONDEQUOIT 1252, LLC Appl. for Auth. filed with Secy. of State of NY (SSNY) on 08/28/19. Office location: NY County. LLC formed in Delaware (DE) on 08/26/19. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to c /o Corporation Service Co., 80 State St., Albany, NY 12207-2543. DE addr. of LLC: 251 Little Falls Dr., Wilmington, DE 19808. Cert. of Form. filed with Secy. of State, John G. Townsend Bldg., 401 Federal St., Ste. 4, Dover, DE 19901. Purpose: Any lawful activity. Notice of Formation of Selected by Elisa, LLC. Arts. of Org. filed with Secy. of State of NY (SSNY) on 08/07/20. Office location: NY County. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to: 9100 Wilshire Blvd., Ste. 1000W, Beverly Hills, CA 90212, Attn: Corey Barash, CPA. Purpose: any lawful activities. IVHB VENTURES LLC, Arts. of Org. filed with the SSNY on 08/17/2020. Office loc: NY County. SSNY has been designated as agent upon whom process against the LLC may be served. SSNY shall mail process to: Jennifer Baez, 145 Seaman Ave Apt 1A, NY, NY 10034. Purpose: Any Lawful Purpose. Notice of Formation of TWJ Ventures LLC. Articles of Organization filed with the Secretary of State of NY (SSNY) on 8/17/2020. Office location: New York County. SSNY has been designated as agent upon whom process against it may be served. The Post Office address to which the SSNY shall mail a copy of any process the LLC served upon him/her is: JoAnne Kao. The principal business address of the LLC is: 305 Columbus Ave., #51 NY, NY 10023. Purpose: any lawful act or activity ARDMORE HILL LLC, Arts of Org. filed SSNY 07/15/20. Office: NY Co. SSNY designated agent of LLC upon whom process may be served & mail to National Registered Agents, Inc., 28 Liberty St., NY, NY 10005, also the registered agent upon whom process may be served. General Purpose.
POSTION AVAILABLE NOTICE OF QUALIFICATION of Distinguished Prize Indemnity LLC. Fic. Name: Distinguished Prize Indemnity Services LLC. Application for Authority filed with the Secretary of State of New York (SSNY) on 6/22/2020. Office location: New York County. LLC formed in DE on 9/19/2017. SSNY designated agent upon whom process may be served & mailed to: Harker & Associates, PLLC, 6 Clement Avenue., Stga Spgs., NY 12866. Principal business address of the LLC is: 1180 Avenue of the Americas, 16th Floor, NY, NY 10004. DE address of LLC is: 1201 N. Orange Street, Suite 710, Wilmington, DE 19801. Certificate of LLC filed with Secy. of State of DE located at: 401 Federal St #4, Dover, DE 19901. Purpose: Any lawful activity. Notice of Qualification of AIG FUND GP HOLDINGS, LLC Appl. for Auth. filed with Secy. of State of NY (SSNY) on 07/02/20. Office location: NY County. LLC formed in Delaware (DE) on 06/01/20. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to Corporation Service Co. (CSC), 80 State St., Albany, NY 12207-2543. DE addr. of LLC: CSC, 251 Little Falls Dr., Wilmington, DE 19808. Cert. of Form. filed with Secy. of State of DE, Div. of Corps., The John G. Townsend Bldg., PO Box 898, Dover, DE 19903. Purpose: Any lawful activity. Notice of Qualification of EIGHTEEN LLC, FICTITIOUS NAME: 18 CONSULTING LLC. Authority filed with Secy. of State of NY (SSNY) on 07/21/20. Office location: NY County. LLC formed in Delaware (DE) on 05/04/20. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to: Eighteen LLC, 94 Grand St., Fl. Three, NY, NY 10013. Address to be maintained in DE: c/o Corporation Service Company, 251 Little Falls Dr., Wilmington, DE 19808. Arts of Org. filed with the Secy. of State, Division of Corporations, John G. Townsend Bldg., 401 Federal St., Ste. 4, Dover, DE 19901. Purpose: any lawful activities. NOTICE OF FORMATION of Pilgrim & Associates Law & Mediation LLC. Articles of Organization filed by the NY Secretary of State (SSNY) on 08/ 21/20. Office location: NY County. SSNY has been designated as agent upon whom process against LLC may be served. Post Office address where SSNY shall mail a copy of any process against the LLC served upon it is c/o Pilgrim & Associates, 301 W 110th Street, NY, NY 10026. Purpose of LLC: to conduct any lawful act or activity. Street address of LLC is c /o Pilgrim & Associates, 301 W 110th Street, NY, NY 10026. Notice of Formation of Hani Films, LLC. Arts. of Org. filed with Secy. of State of NY (SSNY) on 08/26/20. Office location: NY County. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to: Hani Films, LLC, 26 Broadway, Ste. 1301, NY, NY 10004. Purpose: any lawful activities. Notice of formation of RebelInk2x LLC. Articles of organization filed with Secretary of State of New York on 7/ 29/2020. Designated agent upon whom process may be served and shall mail a copy of process against, 9900 Spectrum Drive Austin Texas, 78717. Purpose : any lawful act.
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s ems
Advertising Section
CLASSIFIEDS
To place a classified ad, Call 212-210-0189 or Email: jbarbieri@crainsnewyork.com PUBLIC & LEGAL NOTICES
IL FIORISTA MANAGER LLC, Arts. of Org. filed with the SSNY on 07/ 29/2020. Office loc: NY County. SSNY has been designated as agent upon whom process against the LLC may be served. SSNY shall mail process to: Pryor Cashman LLP, Richard S. Frazer, Esq., 7 Times Square, NY, NY 10036. Purpose: Any Lawful Purpose. Notice of Formation of MINH HOLDINGS II, LLCArts. of Org. filed with Secy. of State of NY (SSNY) on 08/04/20. Office location: NY County. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to Corporation Service Co., 80 State St., Albany, NY 12207. Purpose: Any lawful activity.
COLOR BY LAISAM BOWEN LLC, Arts. of Org. filed with the SSNY on 03/ 02/2020. Office loc: NY County. SSNY has been designated as agent upon whom process against the LLC may be served. SSNY shall mail process to: Laisam Bowen, 30-62 12th Street Apt 2R, Astoria, NY 11102. Purpose: Any Lawful Purpose.
NOTICE OF FORMATION OF BEDNERS ACCOUNTING AND TAXES LLC. Articles of Organization filed with the Secretary of State of NY (SSNY) on 04/ 27/2020. Office Location: NEW YORK County. The principal business address of the LLC is 17 STATE ST 40TH FLOOR, NY, NY, 10004. Purpose: any lawful act or activity.
Notice of Formation of Luxury Next Season. Arts of Org filed with Secy. of State of NY (SSNY) on 08/21/2020. Office location: NY County. SSNY designated agent upon whom process may be served and shall mail copy of proceed against LLC to 17 East 89th Street, New York, NY 10128. Purpose: any lawful act.
SOMERSTONE CAPITAL LLC. Arts. of Org. filed with the SSNY on 06/22/20. 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, 480 Park Avenue, New York, NY 10022. Purpose: Any lawful purpose.
Notice of Formation of MEDICAL WELLNESS PRACTICE, PLLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 07/23/20. Office location: NY County. Princ. office of PLLC: 133 E. 58th St., NY, NY 10022. SSNY designated as agent of PLLC upon whom process against it may be served. SSNY shall mail process to the LLC, P.O. Box 103, Hillsdale, NJ 07642. Purpose: Medicine.
Notice of Formation of JVR ART ADVISORY, LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 07/23/20. Office location: NY County. Princ. office of LLC: 156 E. 79th St., #6A, NY, NY 10075. 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: Art advisory.
Notice of Formation of Baked to Order LLC. Arts of Org filed with Secy. of State of NY (SSNY) On 5/4/2020. Office location: NY County. SSNY designated as agent upon whom Process may be served and Shall mail copy of process Against LLC to 620 W 143 St, #9C, NY, NY 10031. R/A:US Corp Agents, Inc. 7014 13th Ave, #202, BK, NY 11228. Purpose: any lawful Act
NOTICE OF FORMATION of TOIV CONDO LLC. Art. of Org. filed with the Secy of State of NY (SSNY) on 4/ 16/2020. Off. Loc.: NY County. SSNY has been desig. as agent upon whom process against it may be served. The address to which the SSNY shall mail a copy to is: 28 Liberty, New York, NY 10005. Reg. Agent: National Registered Agents, Inc., 28 Liberty, New York, NY 10005. Purpose: Any lawful act
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
ACCOUNTING
ACCOUNTING
ACCOUNTING
ACCOUNTING
FINANCIAL SERVICES
Mazars USA LLP
Mazars USA LLP
Mazars USA LLP
Grassi
Brown Brothers Harriman
Robert S. Posner, CPA, is a Partner in the Construction Practice at Grassi. He has more than 25 years of experience advising contractors, subcontractors and architecture and engineering firms on financial, operational and business growth strategies. Rob provides audit, tax, management advisory and strategic planning solutions that address each client’s unique business objectives. His specialty areas include cash flow management, tax planning, technology consulting, succession planning and bonding.
Justin Reed joined Brown Brothers Harriman as Deputy Chief Investment Officer within its Private Banking business.In this role, he’ll be a key member of the Investment Research Group, responsible for manager selection, capital allocation and investment decisions across the firm. Justin brings extensive investment research experience to BBH, most recently serving as Senior Investment Officer at the Metropolitan Museum of Art, where he helped manage the Met’s $3.5 billion endowment.
Mazars USA LLP, a leading accounting, tax, and consulting firm, announced the appointment of Jonah Gruda, CPA, as Private Client Services (PCS) Practice Leader. Jonah advises a diverse group of high-net worth individuals, including executives, investment bankers, fund managers, entrepreneurs and multi-generational families. Jonah advises on complex tax matters and specializes in income taxation, executive compensation and stock option planning, estate and gift planning and wealth preservation.
Mazars USA LLP, a leading accounting, tax, and consulting firm, announced the appointment of Carlos Martins, CPA, as Real Estate Practice Leader. Carlos has over 15 years of experience providing audit, advisory, and accounting services to domestic and international companies in the real estate sector. He has a deep background with real estate investment companies and in fair value measurement of real estate across all property types.
Mazars USA LLP, a leading accounting, tax, and consulting firm, announced the appointment of Jason Pourakis, CPA, as leader of the Accounting and Advisory Service Line. Jason has 20 years of experience advising a wide range of businesses, mainly in the manufacturing and distribution space. Jason heads a team that supports clients through every stage of their development and ensures that owners are armed with the most appropriate advice to help them grow and increase shareholder value.
FINANCIAL SERVICES
INFORMATION / DATA TECHNOLOGY
REAL ESTATE
DailyPay
Dataminr
Irene Hendricks, an award-winning Human Resources Executive, who has held critical leadership roles with blue-chip Fortune 500 companies, has been named Chief People Officer at DailyPay, the gold standard in the ondemand pay ecosystem. As the company’s Chief People Officer, Ms. Hendricks will be responsible for devising and executing all people-related strategies for DailyPay, further positioning the fast-rising fintech brand as an employer of choice.
Nella Domenici is joining Dataminr, the global leader in real-time AI, as its new Chief Financial Officer (CFO). Domenici is a senior financial and strategic executive with substantial experience leading and managing premier global, technology-based financial services companies. She was most recently the CFO and a member of the Operating Committee at Bridgewater Associates, the world’s largest hedge fund.
Project Management Advisors, Inc. Project Management Advisors, Inc. (PMA) has promoted Michael Labellarte to Vice President, to oversee and deliver successful projects throughout the greater New York area and Eastern region. With 13 years in the commercial real estate industry and four years at PMA, Labellarte is responsible for oversight of the project management team that supports a Fortune 100 tech company with multiple projects, including office renovations in Manhattan.
WHAT’S YOUR COMPANY’S NEXT MOVE?
WHAT’S YOUR COMPANY’S NEXT MOVE? Create your own business headlines with Companies on the Move For more information, contact Debora Stein at 917.226.5470 / dstein@crain.com
CrainsNewYork.com/CompanyMoves
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OUT OF OFFICE
Hearty fare to keep you toasty in autumn’s chill Indoor dining returns soon, but you can still keep warm dining outdoors with this comfort food BY CARA EISENPRESS
I
ndoor dining opens at 25% capacity on Sept. 30, but fall-like weather has already arrived, and patio heaters only partly eliminate the chill. These restaurants sell comforting fare for the changing season, including soups, pastas, barbecue, hot tea and macaroni and cheese. They’ll warm you up even if you decide to stick to dining outdoors for the time being.
CHELSEA MARKET
CHELSEA MARKET
EL FISH SHACK 4 p.m. to 10 p.m. daily The brand-new El Fish Shack is an offshoot of the nearby Astoria restaurant Tacuba, which focuses on seafood. El Fish Shack’s specials include chupe (a traditional Peruvian soup featuring potatoes, shrimp, corn, carrots, Peruvian red peppers and queso fresco) and baked Quahog clams with chorizo, garlic, parsley, peppers and bread crumbs.
and thicker versions and come either pan-fried with toppings or in soups with vegetables, meat, chicken or eggs. The restaurant also serves dumplings. 1 Doyers St., Chinatown
offers outdoor seating for warming meals such as Island pasta (a pasta dish with sautéed peppers and vegetables in a creamy sauce, and topped with jerk shrimp, oxtail, jerk chicken or grilled chicken); roti with curry chicken, jerk chicken or GERMAN’S SOUP curry goat; and Jamaican beef patties. 537 Port Richmond Ave., Staten Island
GERMAN’S SOUP 10:30 a.m. to 8:30 p.m. Monday through Thursday; 10:30 a.m. to 9 p.m. Friday and Saturday; 10:30 a.m. to 7:30 p.m. Sunday An import from Guyana’s capital, Georgetown, German’s Soup has been serving Guyanese Creole cooking—with roots in Africa, India, the Caribbean and China—to Brooklynites since 2018. It now has a new, larger space, where the kitchen dispenses nourishing soups with a yellow split pea base that are also full of meat, plantains, corn and other vegetables. It also serves hardboiled eggs coated with crushed yucca and fried as well as several curries and stews. German’s is takeout only until Oct. 1, when it will offer some indoor seating. 410 Utica Ave., Crown Heights, Brooklyn
TEMPURA MATSUI 4 to 10 p.m. Wednesday through Sunday (the last seating is at 8:30 p.m.) At Tempura Matsui, traditional-style tempura, which has a very thin crust, is available in the outdoor seating area or for pickup. The outdoor offering is an $85 set menu that includes seasonal starters, the chef’s selection of seasonal seafood and vegetables, a choice of tendon (tempura with rice), handmade green tea or matcha soba noodles, and dessert. 222 E. 39th St., Midtown
MELBA’S Brunch: 10 a.m. to 3 p.m. Saturday and Sunday; dinner: 5 to 11 p.m. Monday through Saturday and 5 to 10 p.m. Sunday The classic comfort food at Melba’s includes its well-loved Southern fried chicken and eggnog waffles and macaroni and cheese. There’s also fried catfish, barbecue turkey meatloaf and at brunch shrimp and grits. 300 W. 114th St., Harlem
HUDSON SMOKEHOUSE 11 a.m. to 9 p.m. Tuesday through Thursday; 11 a.m. to 11 p.m. Friday and Saturday This Bronx smokehouse opened in March, just weeks before restaurants shut down. During the summer, after months of takeout and delivery only, it added outdoor tables, where diners could eat its Texas-style barbecue. Hudson’s offers brisket, ribs, pork, chorizo and chicken as well as sides such as macaroni and cheese and baked beans. 37 Bruckner Blvd., Bronx
MENO TEA HOUSE 9 a.m. to 8 p.m. Tuesday through Sunday A Chinese hospitality group has opened its first U.S. location: a tea house intended to feel like a sanctuary. Meno has 10 outdoor seats. The specialty here is dark tea—ancient brews from China that have been fermented for up to eight years. In addition to hot tea and coffee, there are also cold offerings, such as coffees mixed with fresh juices, and a few sandwiches and salads. 218 Thompson St., Greenwich Village
KOTEN’S CARIBBEAN & AMERICAN RESTAURANT Noon to 11 p.m. Tuesday through Thursday; noon to midnight Friday; 1 p.m. to midnight Saturday A backyard at this Staten Island restaurant
TASTY HANDPULLED NOODLES 10:30 a.m. to 10:30 p.m. daily Many of Chinatown’s restaurants have reopened with outdoor seating. At Tasty Handpulled, noodles are made in thinner
TEMPURA MATSUI TEMPURA MATSUI
EL FISH SHACK
EL FISH SHACK
36-02 35th Ave., Astoria
GERMAN’S SOUP
CHELSEA MARKET Seating hours: 10 a.m. to 9 p.m. daily The sidewalks outside Chelsea Market have become home to more than 100 spaced-out tables, where patrons can order warming foods from many of the market’s vendors that offer table service, including Ayada (Thai food), Dickson’s Farmstand Meats (burgers and more), Miznon (pitas with creative fillings) and Lobster Place (chowder). Others spots such as Los Tacos No. 1, Mokbar (ramen) and Tings (Jamaican cuisine) have set up kiosks so customers can order to go, then eat at one of the sidewalk tables. 75 Ninth Ave., Chelsea
VESELKA 9 a.m. to 11 p.m. Monday through Saturday; 9 a.m. to 9 p.m. Sunday A mainstay for all-day (and late-night) Ukrainian food in the East Village, Veselka now offers takeout, delivery and sidewalk seating. The restaurant’s pierogies are famously warming. They come boiled or fried with sautéed onions and sour cream and have fillings including meat, goat cheese, sauerkraut, and bacon, egg and cheese. Also on the menu are beef Stroganoff, stuffed cabbage and goulash. 144 Second Ave., East Village
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Help Crain’s highlight Metro New York’s
MOST NOTABLE WOMEN
Nomination Deadline: October 1 • Closing Soon! Crain’s New York Business will highlight Notable Women in Financial Advice, which will publish as a section within Crain’s New York Business in the November 30 issue. This feature will highlight women who work as financial advisers, in a role substantially related to financial advice and those in leadership positions at advisory firms.
2020
Nomination Deadline: October 16 Crain’s Notable Women in Law will publish as a special section within Crain’s New York Business’ December 14 issue. This feature is a celebration of women executives working in law and will honor their professional, civic and philanthropic achievements.
NOMINATE NOW - CrainsNewYork.com/nominations
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