Crain's New York Business

GOOD GIFT Holiday shopping will move onto the sidewalk this year

ASKED & ANSWERED Mulligan on the importance of teaching staff new skills PAGE 6

|

CRAINSNEWYORK.COM

PAGE 3

NOVEMBER 2, 2020

HEALTH CARE

Addressing employees’ mental health As the pandemic rages on, firms are stepping in to help remote and frontline workers alike deal with emotional strain TRUMP

BLOOMBERG

BIDEN

POLITICS

WHAT THE PRESIDENTIAL ELECTION MEANS FOR NEW YORK Federal funds are more likely to flow with a Biden win

BY BRIAN PASCUS

A

Joe Biden victory in the presidential election will likely ease the financial pressures the city and state are facing from the ravages of the Covid pandemic.

It is widely believed that Biden would provide relief to the city and the state in the form of

direct federal funds, and he would usher in tax reforms that would benefit many New Yorkers.

A win by Trump, a son of Queens who has moved to Florida, would do more harm than good to the city See ELECTION on page 7

NEW YORK’S LARGEST PRIVATE COMPANIES Find out which metro-area firms made Crain’s list, ranked by 2019 revenue PAGE 15

BY SHUAN SIM

W

hen Covid-19 first started ravaging the city, anxiety set in for Heather Isola.

“I would be on the train, not knowing if going to work was going to do something to me or my family,” said Isola, director of physician assistant services at Mount Sinai Health System.

Over time her entire team began to feel the strain. The staff used to have a certain energy—many had no qualms staying a few extra hours.

“That’s gone now,” she said.

“Many just don’t have it in them to give more than what’s required, perhaps from being burnt out.”

In the early days of the crisis, companies largely focused on keeping employees physically safe from contracting the virus. Now, almost eight months later, firms across the state are also putting resources into addressing employees’ mental health challenges.

“The number of anxieties has exacerbated, and our ability to cope with it as a company must be enhanced,” said Sean Woodroffe, chief human resource officer at TIAA , a Midtown-based financial services organization for the academic, research and government fields.

There are generally two groups of workers: those who can handle See HEALTH on page 14

NEWSPAPER

VOL. 36, NO. 37

© 2020 CRAIN COMMUNICATIONS INC.

Cashless ban looms as digital payments soar PAGE 4

GOTHAM GIG

BRONX DEVELOPER NEVER GIVES UP PAGE 27

COMMERCIAL REAL ESTATE

MTA approves long-awaited rent-relief program for Grand Central Terminal tenants “WITHOUT THIS PLAN, OUR STORE WOULD HAVE NO CHANCE OF KEEPING ITS DOORS OPEN”

BY EDDIE SMALL

‘Transformative action’ To qualify for the program, stores must not have their rent covered by funds from business-interruption

BLOOMBERG

T

he Metropolitan Transportation Authority board last week voted unanimously to approve rent relief for its small-business tenants at Grand Central Terminal.

The agency said it will offer qualifying businesses at the transportation hub and all other MTA locations—apart from the Fulton Street Transit Center—a complete rent abatement from April 1 to July 31, and it will use any rent collected during that time period to offset future rent payments.

As of Aug. 1, rent will change to either 10% of a store’s gross sales or 10% of its original rent through the end of the year, whichever is higher, the MTA said. Rent under the latter option will increase to 20% on Jan. 1, it said.

The rent reductions will remain in place either until Jan. 31, 2023, or until ridership rates return to 75% of pre-pandemic levels, the agency said.

The MTA is excluding national banks and retail chains from the program.

insurance or be behind on rent from before April. They also must install a system to track total sales.

“This is a transformative action that will keep businesses open, save jobs and finally allow Grand Central Terminal’s merchants to exit crisis mode and plan for a future after the pandemic,” state Sen.

Brad Hoylman, whose district includes Grand Central, said in a statement.

Rent for the MTA’s Grand Central tenants had emerged as a particularly thorny issue since the onset of the Covid-19 pandemic. The agency’s plummeting ridership has left the terminal’s normally packed

halls relatively empty and deprived its businesses of their main customer base.

The MTA, however, had continued to ask tenants to pay full rent until last Wednesday’s vote. Although the agency had deferred rent from April through July, tenants were still required to pay the

Estimates of how many office staff will return by year’s end fall by 40%: survey 15%

BY NATALIE SACHMECHI

E

stimates for how many workers will return to their offices by year’s end have been slashed by more than 40%, according to a recent survey of the city’s top firms.

Only 15% of New Yorkers are expected back in the city’s office towers by the end of this year, the report from the Partnership for New York City found, compared with its estimate of 26% in August.

Major city landlords were betting on a surge in returning workers after Labor Day, which never came.

As of October, 10% of the city’s 1 million office workers had returned to their desks, a slight uptick from the 8% who had made an appearance in mid-August, according to the survey.

“It’s the recurrences and the hot spots in Brooklyn and Queens and across the country that have really spooked people,” Partnership for New York City CEO Kathryn Wylde said.

Estimates for how many would

gust. Finance and insurreturn by next summer ance businesses expect were also downgraded to 52% of employees to re48% from the 54% it prePERCENTAGE turn by July, down dicted would be back by of New Yorkers slightly from the previJuly. Nearly a third of expected to ous estimate of 55%. employers still don’t return to work by have a return date on the the end of 2020, Decisions, decisions calendar. a Partnership for Consistent with the The biggest deciding New York City last report, the real estate factor for when staff resurvey found industry continues to be turn to work continues the most aggressive in to be the status of the bringing staff back to virus itself, especially work. Nearly three-fourths of the with infection rates spiking in and sector’s employees have already around the city, according to the returned; the percentage was 53% survey. Fears about taking public in August. transportation came in at a close However, fewer are expected to second, with 65% of employers return by next July than originally saying it was either a primary or estimated: 87% rather than 94%, secondary concern, less than the according to the consortium, 74% previously reported by the which includes top developers Partnership, indicating more conRXR Realty, Brookfield Properties, fidence in transit. Nearly 80% of Rudin Management and Silver- returning workers would have to stein Properties. rely on public transportation to Tech employers also reduced commute. their future expectations by one“I do think that it really made a third, with only 49% of employees difference, the mandates and expected to return by July, down signs that the MTA put up that you from the 74% estimated as of Au- have to wear a mask,” Wylde said

on mitigating transit insecurity.

Still, 26% of firms plan to offer employees at least one new transit benefit not offered pre-Covid-19, the most common being free or reduced-cost parking in Manhattan and free or reduced-cost taxis or ride-share services. Fewer are planning to offer free car services, subsidized transit passes and subsidized tolls, fuel or other auto costs.

The reopening of schools and the availability of child care were also considerations, though not as significant. Employers showed the least amount of concern for a preference for remote work—39% of firms expect their workers to work from home at least half the time.

“I think that a large percentage of people would like to return to work,” Wylde said. “Covid has shown people some of the benefits of flexibility in their work schedule. People want to come back to work but would still like to work from home when they need to.” ■

deferred amount in full throughout 2021. They also had been required to pay their rent in full since August, with missed payments sparking interest and penalties.

“Without this plan, our store would have no chance of keeping its doors open, and we would most likely have to close our business of 18 years,” Inna Zeliksen of Inaya Jewelry said in a statement. “This has reinforced our belief that our amazing city is filled with people that will stand up for what’s right and help those in need.”

The MTA itself has been hit with financial burdens since the pandemic began.

In a recent report, state Comptroller Thomas DiNapoli warned that its debt could reach “suffocating levels” without federal aid, and the agency has said it will have to increase fares and tolls, impose layoffs and cut subway and bus service by 40% without federal help. ■

WEBCAST CALLOUT

NOV. 9 TO 12 CRAIN’S POWERFUL WOMEN SUMMIT This weeklong summit will bring together the leading women in New York City’s public and private sectors to discuss the biggest professional and personal challenges facing them today. Leaders will offer tips on investments, mentoring relationships and overcoming the challenges to leadership and success. Keynote presentations and concentrated panel discussions will leave attendees with insights they can apply to their career.

VIRTUAL EVENT Time: 4 to 5 p.m.

CrainsNewYork.com/PowerWS20

Vol. 36, No. 37, November 2, 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 | NOVEMBER 2, 2020

GETTY IMAGES

RETAIL

Shopping in a winter wonderland

Hoping to bolster small businesses’ holiday sales, de Blasio opens sidewalks to retail

BY COLIN KERN

H

oliday shopping in the city is likely to be a frostier experience this year.

Small businesses will be allowed to move their storefronts onto the sidewalks and streets to allow for safer transactions, Mayor Bill de Blasio announced last Tuesday.

The Open Storefronts Program will allow businesses to use the sidewalk space directly in front of their storefront as well as the curb lane on the street. Shops on the same block may join together and apply for an Open Streets permit to close their roadway to traffic.

The program began Friday and

will end Dec. 31. the same period last year, although nyc.gov/openstorefronts.

The plan to bolster retail transac- retail sales have recovered substan“We applaud the city for building tions in the city is largely based on tially and were down only 5% in the on the success of outdoor dining New York’s outdoor-­ dining plan, June-to-August period. Holiday and developing a similar plan to fawhich allows restaurants to serve sales represent a big chunk of the cilitate outdoor shopping,” said customers on the sidewalk.

James Mettham, executive “Let’s take that same idea director of the Flat“I DON’T THINK IT’S A PERFECT to small businesses, retail iron/23rd Street Partnerbusinesses, all over the five SOLUTION. I’M JUST HAPPY TO SEE ship. “The use of public boroughs that so much space for retail, and the SOME MOVEMENT ON THIS ISSUE” need additional business to ability to self-certify for survive,” de Blasio said. quick enrollment, are criti“For us to bring back and protect retail business. cal for the 95 stores in Flatiron and our small business, we have to do “These small businesses see 70% NoMad that have reopened or nevsome different things.” of their sales come from this time,” er closed because they were said Jonnel Doris, commissioner of deemed essential.”

‘Critical’ program the Department of Small Business No information was given about businesses located above ground Taxable retail sales in the city Services.

To apply for an Open Storefronts level or in areas with limited sidewere down 32%, or $4.3 billion, from March to May compared to permit for your business, visit walk capacity.

“I don’t think it is a perfect solution. I’m just happy to see some movement on this issue,” said Thomas Grech, president of the Queens Chamber of Commerce.

“My fear is the only people who will do well in this endeavor are people who rent and sell tents.”

Although the concept has aided the restaurant industry, extending sales to the sidewalk might not be as functional for all businesses.

“We have a big store that we pay Manhattan rent for. It doesn’t make sense to build a little hut out on the curb,” said Lisa Haspel, manager at Vintage Thrift, a nonprofit secondhand store in Gramercy Park that sells antiques. “I just don’t see us putting crystal out on the street.” ■

November 2, 2020 | CRAIN’S NEW YORK BUSINESS | 3

POLITICS

McGuire’s mayoral campaign raises $1.1M in 10 days

R

ay McGuire, the former Citi executive who quit the corporate world to run for mayor of New York, has amassed $1.1 million in campaign donations in 10 days, according to his campaign.

From Oct. 15–25, the 63-year-old Dayton, Ohio, native raised half of what the two front-running candidates, city Comptroller Scott Stringer and Brooklyn Borough President Eric Adams, each have collected in their years of campaigning.

“New Yorkers are really looking

McGuire was always expected to tap into his Wall Street connections to fund his campaign, but Todd-Medina said that aside from well-heeled donors who gave the maximum allowed under the law, the campaign also has welcomed an outpouring of contributions from small businesses, especially in the minority community.

“A significant amount of the donations are coming from people of color—primarily Black people,” the spokeswoman said. Contributions have come from donors in all five boroughs, she added.

The former executive did not contribute any money to his own campaign, Todd-Medina said.

McGuire has yet to hold a public campaign event, she said, and his official kickoff is not scheduled until after the presidential election. Instead, the ex-Citi big shot has relied on Amanda Bailey and Shari Yost Gold, two veteran fundraisers who worked on the presidential campaigns of Kamala Harris and Michael Bloomberg, to help fill his war chest.

“I would say that it’s a pretty sig-

“VOTERS ARE LOOKING FOR SOMETHING ELSE BEYOND THE SAME-OLD POLITICIANS” for someone who can right the ship,” campaign spokeswoman Lupe Todd-Medina said. “It’s not just his experience in the Financial District—which will help with the budget gap—but it’s also that voters are looking for something else beyond what the same old politicians are offering.”

nificant start,” said political observer John DeSio, a former spokesman for Bronx Borough President Rubén Díaz Jr. “Any candidate running for mayor would be comforted by being able to raise that amount. It shows that there’s an audience for his campaign and an audience for a centrist, traditional liberal, someone who bases their campaign on delivering municipal services.”

The competition Stringer has $2.3 million in campaign cash on hand, and Adams reported $2.1 million in his election fund, according to July campaign finance summaries.

Other candidates in the race have yet to break the million-dollar mark. Shaun Donovan, a former Obama Cabinet member, has raised about $669,000. Former Army Gen. Loree Sutton, who served in the de Blasio administration as the first commissioner of the Department of Veterans Services, has raised about $155,000.

Maya Wiley, an ex-MSNBC commentator and former general counsel to the mayor, and Kathryn Garcia, ex-commissioner of the Sanitation Department, have yet to report their contributions. The next

MCGUIRE

BLOOMBERG

BY JANON FISHER

reporting deadline is Jan. 15.

The McGuire campaign will not participate in the city’s public matching funds program, allowing him to accept larger individual donations.

That also leaves him open to the charge that he will be heavily influenced by corporations and wealthy New Yorkers.

“It’ll be a tough road ahead for that kind of Bloomberg campaign, especially considering the progressive and left candidates the elector-

ate has been voting for in the Democratic primaries,” DeSio said. “But that kind of money shows that he will be able to make the case.”

Todd-Medina brushed off concerns that McGuire will be too heavily tied to corporate interests.

She said given that he was not born into wealth—his mother was a social worker—he will be able to connect and empathize with New Yorkers of every economic stripe.

“This isn’t the case,” she said, “of a silver spoon and a tin ear.” ■

ECONOMY

Cashless ban looms as digital payments grow

No-touch systems The pandemic has accelerated the adoption of noncash payment options among restaurants and retailers, particularly mobile phone payments. About 67% of retailers now accept some form of no-touch payment, such as a tap-and-go credit card, Apple Pay or Google Pay, according to an August survey by the National Retail Federation. That’s up from 40% last year.

Even the 133-year-old Peter Luger steakhouse in Williamsburg, well known for its policy against credit cards before the pandemic,

“SOME EMPLOYEES MAY FEEL MORE COMFORTABLE WITH MOBILE PAYMENT” be enforced through complaints filed to the Department of Consumer and Worker Protection.

There are some exceptions. If a business offers a kiosk that converts cash to a debit card without any ad-

BUCK ENNIS

A

ban on businesses going cashless that was approved pre-pandemic is about to become law this month, even as many restaurants and retailers have adopted contactless payment measures in response to Covid-19.

The NYC Hospitality Alliance, a restaurant industry lobbying group, last week sent a notice to members outlining the new rules, which could cost businesses up to $1,500 each time they refuse paper currency.

The City Council approved the ban on cashless businesses in January, with sponsor Ritchie Torres noting that a significant number of New Yorkers rely on cash. More than 360,000 households do not have a bank account, according to a city-funded Urban Institute report in 2015.

The law will take effect Nov. 19, to

ditional charge, it may still refuse cash. Barclays Center installed such machines last year, when some of its vendors stopped accepting cash.

Flip Sigi, a taqueria in the West Village, will install a cash-to-card machine before the law goes into effect, said owner Michael Ryan.

The restaurant has been cashless since 2015—which Ryan said has almost never been an issue with patrons. Although Covid-19 has reinforced the business’s aversion to cash, he said, the risk of theft and a decrease in service quality are his main concerns.

“Cash can slow down our operation immensely,” he said.

4 | CRAIN’S NEW YORK BUSINESS | November 2, 2020

ISTOCK

BY RYAN DEFFENBAUGH

began accepting cards for delivery orders in May. The share of payments made using cash on Square’s small-business payment platforms fell 8% between August 2019 and August 2020, the company said.

The Federal Reserve has said concerns about the demise of cash are exaggerated, however. About 70% of people the Fed surveyed in

the spring said Covid-19 has not caused them to avoid carrying cash.

Hand hygiene Andrew Rigie, director of the Hospitality Alliance, said some members are grumbling about the timing of the new rule. Most of the city’s 25,000 restaurants still accept cash, even if they have adopted new payment options, he added.

“Some employees may feel more comfortable with mobile payment rather than dealing with cash,” he said. “There is nothing in the law to stop people from promoting or encouraging those payments. They just can’t turn away cash.”

Guidance from the federal Centers for Disease Control and Prevention does not recommend businesses refuse cash, but it says they should encourage customers to use touchless payment options when possible.

“Some experimental studies have shown that the virus can persist on paper currency possibly for weeks, but I’m not aware of any evidence that an infection has actually been transmitted that way,” said Stephen Morse, an epidemiologist at Columbia University. “It does emphasize the importance of good hand hygiene after handling cash— which would essentially eliminate the risk.”

New York is joining Philadelphia and San Francisco as cities that require businesses to accept cash.

New Jersey and Massachusetts have state laws that ban cashless businesses.

The Department of Consumer and Worker Protection plans to publish more information on how to file a complaint against a business in violation of the law in the next couple of weeks, spokeswoman Melissa Barosy said. ■

REAL ESTATE

Hotel developer Chang sells Chelsea project for $147M

Invitation to Prequalify and to Bid Rehabilitation and Flood Mitigation of the New York Aquarium, Brooklyn, NY Turner Construction Company, an EEO Employer, is currently soliciting bids for the Rehabilitation and Flood Mitigation of the New York Aquarium from subcontractors and vendors for the following bid packages:

BY EDDIE SMALL

P

Only bids responsive to the entire scope of work will be considered and, to be successful, bidders must be prequalified by Turner. Certified M/WBE and Small Business (13 CFR part 121) companies are encouraged to submit.

BUCK ENNIS

rolific hotel developer Sam Chang has sold his Marriott project in Chelsea for more than $147 million, according to property records.

Chang’s McSam Hotel Group sold the development at 140 W. 28th St. to the Phoenix Hospitality Group, according to a source familiar with the deal. The buyer is identified in property records only as NY 28th Street LLC, an entity connected to the law firm Arnold & Porter.

McSam bought the West 28th Street site for $60 million in 2016, and the company planned to construct a 45-story, 526-room hotel under the SpringHill Suites and TownePlace Suites Marriott brands. Construction on the project is ongoing; work is expected to

BP #36 East Service Yard Asphalt Pavement (Bid, Payment & Performance Bond Required)

Chang has established himself as one of the most active hoteliers in New York in recent years, building dozens of hotels in the city in the past two decades. He generally has focused on budget options that cater to tourists.

ABOUT 25% OF NEW YORK’S HOTELS ARE EXPECTED TO CLOSE BY 2023 be done by the spring.

Representatives for McSam declined to comment on the deal.

Representatives for the Phoenix Hospitality Group did not immediately respond to a request for comment.

Looking ahead

The pandemic has taken a wrecking ball to the city’s intertwined hotel and tourism industries, which both likely face long roads to recovery. Some investors are looking at ways to repurpose now-empty hotel properties into office and residential space, and about 25% of

New York’s hotels are expected to close by 2023, experts say. Hotels including the AKA Wall Street and the W New York Downtown already have shuttered permanently.

But some developers are forging ahead with projects despite the pandemic. A company linked to the Magna Hospitality Group bought Ashford Hospitality Trust’s Embassy Suites by Hilton at 60 W. 37th St. this year for about $115 million, and Genting Group still plans to open its $400 million Hyatt Regency at the Resorts World Casino by Ozone Park in Queens early next year. ICG Hospitality and 7G Realty recently opened up a swanky 53-room hotel at Rockaway Beach in Queens. ■

Luxe Life Hotel on the block months after opening

BY NATALIE SACHMECHI

LUXEHOTELS.COM

T

he former home of Life magazine, which is now the boutique hotel Luxe Life, is hitting the market after opening in February, just weeks before the pandemic shut down hotels across the city.

The hotel has been closed since March, according to records from the state Department of Labor.

The 38,000-square-foot building, at 19 W. 31 St., is currently operated by Luxe, a Los Angeles–based hospitality group led by hotelier Efrem Harkham. Luxe rebranded the property, formerly known as the Life Hotel, after a gut renovation by the building’s owner, David Mitchell of Mitchell Holdings.

The building was constructed in 1894 as the headquarters for the now-defunct Life. In 1936 the magazine was sold to media magnate Henry Luce, who moved the publication’s offices to Rockefeller Plaza.

Mitchell purchased the property from Abraham Puchall for $41 million in 2015. Puchall had been operating the building as the budget-friendly Herald Square Hotel.

Last year Puchall’s holding company sued Mitchell for a $650,000 balance over the building’s air

LUXE LIFE , at 19 W. 31 St. rights, which Mitchell’s company didn’t pay for when it purchased the property, according to court documents. In July the state Supreme Court in Manhattan ordered Mitchell to pay Puchall close to $1 million, including interest.

Murky future The hotel has 98 rooms across 6 stories now used for guests. It’s unclear what will become of the building, which is being marketed as an inn. But investors and developers have their eyes on distressed

properties that they can transition to other uses, including assisted living facilities, offices and apartments.

As of 2017, two years after Mitchell bought the property, the hotel had $41 million in loans attached to it, property records show, including debts from previous owners and extra financing Mitchell secured on his own.

At least 10 other hotels in the city are in arrears on their mortgage and collectively owe more than $800 million. They include The Standard, High Line, in the Meatpacking District and the Holiday Inn in the Financial District.

There won’t be any meaningful uptick in tourism until at least 2025, experts say, and the future of hotels in the city remains murky.

Representatives for Luxe Hotels and Mitchell Holdings did not respond to requests for comment. ■

In order to receive the bid packages, potential bidders must submit a complete Subcontractor/Vendor Prequalification Statement. Prior prequalification submissions that remain current will be considered as previously submitted or may be updated at this time.

All bidders must prequalify by the bid deadline November 12, 2020 and submission of a prequalification statement not later than November 06, 2020 is strongly encouraged.

All bidders must have an acceptable EMR, and will be subject to government regulations such as 44 CFR and Federal Executive Order 11246. Successful bidders will be required to use LCP Tracker compliance verification software. Note that while this is a New York City prevailing wage project, union affiliation is not required for BP#36.

To obtain further information about contracting opportunities and/or the prequalification package and bid solicitation package/s, please contact Macarena Bermudez (mbermudez@tcco.com or 212-229-6000.)

The date for the virtual public opening by Turner Construction Company office located at 375 Hudson Street, New York, New York, is November 13, 2019 at 11 am.

Link for virtual opening: Please join my meeting from your computer, tablet or smartphoneg https://global.gotomeeting.com/join/796489749

Redefining what you should expect from your accountant. grassicpas.com

November 2, 2020 | CRAIN’S NEW YORK BUSINESS | 5

ASKED & ANSWERED

DEANNA MULLIGAN

fl p the sw tch th s t me wh ch we d d March 10

DOSSIER

Guardian Life Insurance

WHO SHE S Boa d cha and o me CEO Gua d an L e nsu ance Co o Ame ca

NTERV EW BY RYAN DEFFENBAUGH

D

GREW UP W sne Neb

The wor d s chang ng rap d y and the sk s compan es requ re rom emp oyees are chang ng rap d y The est mates o how many peop e w need to be resk ed are anywhere rom 30 m on to 80 m on peop e

RES DES Wes ches e Coun y

How does Guard an he p emp oyees earn new sk s?

AGE 57

eanna Mu gan ret red n October after 10 years as CEO of Guard an L fe nsurance, a po cyho der owned company that ast year recorded $1.7 b on n annua ncome. She has been a regu ar on Cra n s Most Powerfu Women st s nce 2011 and n 2019 was the on y fema e CEO among the c ty’s Fortune 500 compan es, though Coty’s new CEO, Sue Nab , o ned her th s year. Mu gan’s new book—H re Purpose How Smart Compan es Can C ose the Sk s Gap—warns that shortcom ngs n emp oyee tra n ng cou d eave m ons of obs unfi ed by 2030.

What drove your dec s on to ret re rom Guard an?

When became CEO—we pres dent—a most 10 years ago sa d 10 years was my outs de m t o how ong wanted to stay th nk that s a ong t me or someone to ead a b g company and t s great to make room or someone w th new deas

t s been a cha eng ng past s x months How d d Guard an manage the trans t on to remote work?

Our ormer o fices at 7 Hanover Square had a 5 oot wa o water wash through the obby dur ng Hurr cane Sandy We were out o that bu d ng or n ne months We d d not have a backup p an then but made t through sa d we

GUARD AN EMPLOYEES 8 000 EDUCAT ON Bache o s n bus ness adm n s a on Un ve s y o Neb aska MBA Co ne Un ve s y SECOND ACT Mu gan w e e as boa d cha by yea s end She p ans o advoca e o sk s based ea n ng “The e s no sho age o p ob ems n he wo d gh now and d ke o be pa o he c ean ng c ew— wha eve o m ha akes” she sa d THE LETTER n Sep embe Mu gan o ned mo e han 150 bus ness eade s n s gn ng a e e o Mayo B de B as o ou n ng conce ns abou pub c sa e y and o he qua y o e ssues “ was ea y an o e o he mayo o he p” she sa d a he han mean o be c ca

cou d never have th s happen to us aga n So we brought on a ch e n ormat on o ficer and one o h s first obs was to make us ocat on ndependent t took five years and a ot o tra n ng but we were ready to

NOV. 9

Opening Day

NOV. 10 - 12

20

P vot ng to your book what s the sk s gap and how b g s th s cha enge?

Focus Sessions

t s mportant to deve op a earn ng cu ture ns de an organ zat on We have nvested a ot n educat on and tra n ng We have a p ot pro ect r ght now to he p ront ne emp oyees—who wou d norma y be answer ng te ephones or process ng c a ms—become coders and work n our T department t opens up a who e new wor d o career poss b t es or them

When Cra n s profi ed you most recent y or the Most Power u Women st you were the on y ema e CEO among New York’s Fortune 500s Why do you th nk t s so rare to see ema e eadersh p at top compan es?

th nk th s s chang ng There are many more ema e For une 500 CEOs now than when became CEO 10 years ago or examp e And n New York C ty we have the examp e o Jane Fraser who has ust been e ected CEO at C t You see even more rom financ a serv ces compan es n the uture Many stud es have been done that show hav ng a d verse board d verse eadersh p and a d verse work orce ead to better resu ts ■

LISTEN AND LEARN FROM METRO NEW YORK’S PREEMINENT WOMEN This weeklong summit will bring together the leading women in New York City’s public and private sectors to discuss the biggest professional profess ona and persona personal cha challenges enges fac facing ng them today today. Leaders w offer t ps on nvestments mentor ng re at onsh ps and wovercom ng the cha enges to eadersh p and success Keynote presentat ons and concentrated pane d scuss ons w eave attendees w th ns ght they can app y to the r careers

CRAIN’S NEW YORK BUSINESS NOVEMBER 9 – NOVEMBER 12

LEADERSHIP NOV. 10

MENTORING NOV. 11

INVESTING NOV. 12

Event questions: cra nsevents@cra nsnewyork com Sponsorship opportunities: L sa Rudy • rudy@cra n com Custom Panel Sponsors

Supporting Sponsors

20 RESERVE YOUR VIRTUAL SEAT TODAY: CrainsNewYork.com/PowerWS20 6 | CRAIN’S NEW YORK BUSINESS | NOVEMBER 2, 2020

IN THE MARKETS

When good news isn’t quite good enough

New York Community Bancorp now focal point for investor anxiety about city’s future

ELECTION and the state, experts say.

“With Trump, we’ll just get more of what we’ve seen over the past four years, and that’s the unconstructive antagonizing of New York City,” said Nicole Gelinas, a senior fellow at the Manhattan Institute think tank. “In fact, it will only get worse.”

During the Covid-19 pandemic, Trump’s Justice Department has declared New York City an anarchist jurisdiction, a designation that imperils the city’s ability to access billions of dollars in federal funding. Mayor Bill de Blasio’s administration has since sued.

Meanwhile, the U.S. Department of Transportation has refused to green-light the Amtrak Gateway Tunnel project under the Hudson River or allow New York City’s congestion-pricing legislation to complete a legally binding environmental review.

“A second term of Donald Trump does nothing for New York, certainly nothing positive,” said John DeSio, a former spokesman for Bronx Borough President Rubén Díaz Jr. “I imagine the second term would be about score-settling and boosting those folks who pushed him over the finish line, and that’s certainly not New York City.”

One worrisome element to consider is the relationship, or lack

BLOOMBERG

FROM PAGE 1

thereof, that de Blasio and Gov. Andrew Cuomo have formed with Trump, especially during the pandemic. De Blasio famously painted a Black Lives Matter mural in front of Trump Tower, while Cuomo has repeatedly criticized the president publicly, going so far as to suggest Trump would need an army of bodyguards to escort him down the streets of Manhattan.

“If it’s a Trump administration, then the governor and mayor will have to work together to get the best result possible for New Yorkers,” said Republican Robert Ortt, minority leader of the state Senate and former mayor of North Tonawanda.

One Trump-era policy that has affected many New Yorkers is the cap on state and local tax deductions, part of the 2017 federal taxcut legislation that Trump championed. The SALT measure has affected high-income, high-tax

ALAMY

N

ew York Community capital available to absorb losses, Bancorp, the city’s larg- and bank stocks typically are at or est apartment lender, re- above it. A discount is a troubling ported an impressive sign.

“The New York banks have been 21% jump in earnings last Wednesday as rent collections returned to hit harder out of fear the economic pre-pandemic levels and loan de- recovery here will be slower,” said Chris O’Connell, an analyst at ferrals dropped in half.

“We are very happy with our Keefe, Bruyette & Woods.

New York Community’s fortunes third-quarter performance,” Chief Executive Joseph Ficalora said, “es- are closely tethered to the city’s, especially the middle class, pecially given the uneven because its main busieconomic recovery.”

But investors shrugged ness is writing loans to off the good news, and owners of rent-regulated New York Community’s apartments. The recovery stock resumed its fall. It of rent payments to has lost 38% of its value in pre-pandemic levels the past year, and the demonstrates, once bank has achieved the unagain, that New Yorkers will do just about anywanted distinction of becoming the focal point for thing to keep a beAARON ELSTEIN low-market Wall Street’s anxieties apartment here—even when the unabout New York’s future.

If you believe the city’s economy employment numbers are through has been so damaged by Covid-19 the roof. The state has banned that for a long time office buildings Covid-related evictions until at will remain empty and storefronts least the end of the year. will be vacant, and tenants will The near-term outlook for comeven give up their rent-regulated mercial real estate is more trouapartments, New York Communi- bling. ty’s stock is the way to express that view. It is the New York “fear trade.” Deferred loans fall The bank’s shares trade at a 40% The good news is New York Comdiscount to their book value, a sub- munity’s portfolio of deferred office stantial gap. Signature Bank, anoth- loans fell by $400 million last quarer city-focused lender, trades at ter. The bad news is that it’s still at about 20% below book value. The $800 million. The bank indicated book value measures the amount of that borrowers who still need more

time to resume paying loans are really struggling.

“The bar for a second deferral is high,” Chief Financial Officer Thomas Cangemi said on a conference call last Wednesday.

The question is how many of the troubled real estate loans will go bust.

“What are you seeing from your borrowers as maybe people move

out of New York?” one analyst asked on the call. “What’s the level of concern around credit, and how do you think about the losses?”

The bank said it expects buyers to snap up assets if borrowers default on office loans, sparing New York Community losses. In its favor, the bank has a long history of conservative lending and avoiding losses. New York Community

officials added that wary rivals are stepping back from the market.

“People are a little nervous to do lending in New York,” Cangemi said.

There’s reason to be nervous, of course. New York Community’s depressed stock price loudly signals investor fear that there’s a monster at the end of this book, and it isn’t lovable, furry old Grover. ■

states such as New York, New Jersey and Connecticut by reducing the amount of local taxes paid that residents may deduct on their federal income tax forms.

“A Biden administration would likely work to repeal the SALT cap,” DeSio said.

City experts said they anticipate that a Biden administration would become a partner with New York in the fight against the coronavirus and its economic effects.

“There will be an expectation there will be federal resources available to support city and state budgets as well as provide economic assistance for affected workers and businesses,” said James Parrott, an economist at the New School.

infrastructure efforts in his first year and half, while Obama was president,” said Democratic strategist Bruce Gyory, who cited the Second Avenue subway and LaGuardia Airport renovations as two projects the former vice president was particularly involved in.

“Biden was very active in those infrastructure efforts,” Gyory said, adding that the city’s investments in green energy and Affordable Care Act programs could be augmented under a new administration.

Because New York is only one state among 50, though, it’s not clear how much attention a Biden administration would be able to give the region, as the nation faces challenges on multiple fronts.

“After a one-time additional rescue package and some infrastructure money, we’d be on our own again, facing significant and multiple economic and fiscal challenges,” Gelinas said.

If Sen. Chuck Schumer emerges as Senate majority leader, that would change the equation, however.

Many city experts predict that a Trump victory would leave some New Yorkers demoralized but also invigorate the progressive wing of the local Democratic Party—a political reaction that could lead to progressive victories in the City Council, the Legislature and next year’s mayoral race.

“A Trump win would embolden

the progressive wing of the Democratic Party,” Gyory said. “Their sense would be: You can’t beat these people with a moderate.”

That concept of Democrats going all-in with a liberal approach is music to the ears of state Republicans such as Ortt, who said they are well positioned to hold off a potential Democratic supermajority.

“The voters have seen up close what one-party rule looks like,” Ortt said. “Our message is, we need to bring back balance, and the Democrats’ answer to a lot of these economic woes is more taxes.”

Policies a Democratic supermajority in Albany could enact include a new tax on millionaires and billionaires, a pied-à-terre tax, rent forgiveness and recreational marijuana legalization.

Even Cuomo’s veto power would be neutralized by a supermajority, so long as fissures don’t form between moderates and progressives.

In the event Trump loses the election, it surely would bring down Republican candidates across New York, leaving the GOP in Albany on the outside looking in as redistricting goes into effect during the next two years.

“If they don’t take back seats in Long Island, if the Dems hold on to the seats they won in the last round, it’s really a make-or-break moment for the Republican Party in New York state,” DeSio said. Democrats, he said, “would be able to redistrict Republicans into oblivion.” ■

Rescue plan Although any federal assistance likely would depend on Democrats holding the House of Representatives and taking control of the Senate, the experts said a Biden administration probably would pass a massive rescue package to help the state close its budget deficit and allow the Metropolitan Transportation Authority to maintain operations into next year.

There’s also Biden’s close relationship with Cuomo to consider.

“He was very helpful to Cuomo’s

November 2, 2020 | CRAIN’S NEW YORK BUSINESS | 7

president K.C. Crain senior executive vice president Chris Crain group publisher Mary Kramer

EDITORIAL

publisher/executive editor

Voting in New York should not be this much of a hassle accommodate the most basic function in a democracy.

A New York Times story last week spotlighted much that we already knew: The agency overseeing our election system is rife with dysfunction, cronyism, corruption and, yes, voter suppression. The newspaper found that friends and relatives enjoy cushy government salaries and partisan protection despite the fact that nearly every election is rife with problems. In 2016, for example, 200,000 Brooklyn voters were illegally purged from the rolls due to rank incompetence.

Soggy ballots and faulty machines in 2018 caused massive bottlenecks outside polling sites.

About this matter, at least, Mayor Bill de Blasio is right: It’s embarrassing, it’s wrong and it must be corrected.

One of the most frustrating things about the issue is that the city has virtually no power to fix the problems. Here is where Gov. Andrew Cuomo can exercise some of his wide-ranging authority. The state constitution and state law govern how the Board of Elections operates.

As it stands now, politically partisan county election commis-

RIGHT NOW THERE SIMPLY AREN’T ENOUGH PLACES TO VOTE constitutional right to help choose a leader in 2016.

This month’s voter lines signal a sharp reversal in the trend. But before we get too proud of ourselves, consider the other thing the lines represent: a colossal failure on the part of our government, especially the Board of Elections, to

associate publisher Lisa Rudy EDITORIAL editor Robert Hordt assistant managing editors Telisha Bryan,

Janon Fisher audience & analytics manager

Gabriella Iannetta associate editor Lizeth Beltran data editor Gerald Schifman art director Carolyn McClain photographer Buck Ennis senior reporters Aaron Elstein, Eddie Small reporters Ryan Deffenbaugh,

Jennifer Henderson, Brian Pascus, Natalie Sachmechi, Shuan Sim executive assistant Devin Cavallo to contact the newsroom:

www.crainsnewyork.com/staff 212.210.0100 BLOOMBERG

A

cross New York last week, lines snaked around city blocks, full of people hoping to vote early in the election. Given the fact that people were waiting in rainy, chilly weather—and in some cases more than three hours—the sight made our civic-minded hearts swell.

For years, American voter turnout has lagged behind that of other developed countries, a 2018 study by the Pew Research Center found. About 45% of the voting-age public nationwide does not participate in presidential elections, and the numbers are even lower in other elections. In New York, about 40% of the eligible electorate declined their

Frederick P. Gabriel Jr.

685 Third Ave., New York, NY 10017-4024 ADVERTISING

www.crainsnewyork.com/advertise senior account managers Roland Espinosa,

sioners have the say over hiring and execution of elections.

Legislation introduced by Sens.

Liz Krueger and Brad Hoylman of Manhattan would take hiring power out of the hands of the county politicians and shift it to the Elections Board’s executive director, Michael Ryan, and deputy, Dawn Sandow. The measure would inject accountability into the process so that incompetent election workers could be held accountable.

But that would be only part of the solution. There’s something fundamental we can do to shorten

the lines and smooth the process: add more polling sites. Right now there simply aren’t enough places to vote.

Last month city Schools Chancellor Richard Carranza removed polling sites from 20 public schools in response to parent objections about strangers going into the buildings.

If we want to keep the great American experiment going, we can’t have it both ways. To improve citizen participation, we have to open up schools, co-op lobbies and other semi-public spaces and let the people vote. ■

Stuart Smilowitz, Tori Weil people on the move manager Debora Stein,

dstein@crain.com CUSTOM CONTENT director of custom content

Patty Oppenheimer, 212.210.0711, poppenheimer@crainsnewyork.com senior manager, custom content

Sophia Juarez, sophia.juarez@crainsnewyork.com EVENTS

www.crainsnewyork.com/events events and marketing manager

Michelle Sustar, mstustar@crain.com manager of conferences & events

Ana Jimenez, ajimenez@crainsnewyork

OP-ED

REPRINTS

Let’s rethink the borough-based jails plan

director, reprints & licensing Lauren Melesio,

212.210.0707, lmelesio@crain.com PRODUCTION production and pre-press director

BY JAN LEE, ARLINE PARKS AND DOM PISTONE

I

n a pre-pandemic world, when our city’s leaders had higher political aspirations, we saw everyone jump on the “close Rikers” bandwagon—and we agree, in theory, that is a laudable goal. However, what got lost in that conversation are those who would have to bear the brunt of Rikers’ replacement, specifically the communities sited for borough-based jails.

In the absence of any mention of community impacts, we are waging our own campaigns in the form of lawsuits filed by three out of the four proposed jail sites in response to the dubious and unlawful tactics employed by the city government. New Yorkers deserve better than this.

In Manhattan, our lawsuit against the city was already successful when Judge John Kelley of the state Supreme Court ruled that the City Council did not go through the proper steps or execute the necessary studies to ensure the jail would not negatively impact the neighborhood.

What happened in Manhattan proves our point. City Hall illegally expedited the process for perceived political advantage, with little to no regard for the community nor the safety of the detainees.

Similar lawsuits in the Bronx and Queens await judgment. The city is facing local community-driven opposition on every front, proving that the borough-based jail proposal is an abject failure of leadership and an example of sheer ignorance, and arrogance, about constituent needs.

Political tool Now, as the city faces hundreds of thousands of lost jobs, an unemployment rate of 16% (twice the national average) and a threatening second wave of Covid-19, we have an opportunity to reflect on a plan that was a political tool two years ago but makes little sense today. It is hard to understand spending $9 billion, and potentially significantly more, on overly large, ill-placed jails when the city faces a budget shortfall of comparable size.

Instead, we need thoughtful and robust investment in our diverse,

8 | CRAIN’S NEW YORK BUSINESS | NOVEMBER 2, 2020

multiracial communities to make us whole. Many of the neighborhoods sited for the proposed jails have been hit the hardest by the pandemic and carry a disproportionate amount of the deaths, infections and job losses. The city needs to understand what our actual needs are, and it is not jails, which will not be the community assets that the city claims.

What we need are better access to citywide public education and affordable health care and housing, more alternatives to incarceration, an investment in public transportation and real criminal justice reform. Investing in these areas will help mitigate the need for large jails, since it has been proven time and again that social programs and community investment have positive impacts on those who become involved with the justice system.

The earmarked initial $9 billion could do wonders in Mott Haven, Chinatown, Downtown Brooklyn, Kew Gardens and other affected neighborhoods—with the potential to bring transformational change.

We would love a partner in City

Hall who will work with us on these issues. Unfortunately, no one there seems to be listening.

As we move into election season, we will not forget. This is an issue that will have a lasting impact on every New Yorker. We cannot allow special-interest groups and elected officials who pay little interest to our communities’ needs to upend our lives and use taxpayers’ dollars irresponsibly, especially in the aftermath of the pandemic. We need a responsive city government to work with us to solve problems.

Right now City Hall has an opportunity to get it right by rethinking its plan and reinvesting in ways that will lift all of us up. With Covid-19 rampant and an economic crisis looming, New Yorkers have suffered enough.

Reinvest in our neighborhoods and help us build back stronger. ■ Jan Lee is a co-founder of Neighbors United Below Canal. Arline Parks is CEO of the Diego Beekman Mutual Housing Association. Dom Pistone is president of the Community Preservation Coalition.

Simone Pryce media services manager Nicole Spell SUBSCRIPTION CUSTOMER SERVICE

www.crainsnewyork.com/subscribe customerservice@crainsnewyork.com 877.824.9379 (in the U.S. and Canada). $3.00 a copy for the print edition; or $129.00 one year, for print subscriptions with digital access.

Entire contents ©copyright 2020 Crain Communications Inc. All rights reserved. ©CityBusiness is a registered trademark of MCP Inc., used under license agreement.

CRAIN COMMUNICATIONS INC. chairman Keith E. Crain vice chairman Mary Kay Crain president K.C. Crain senior executive vice president Chris Crain secretary Lexie Crain Armstrong editor-in-chief emeritus Rance Crain chief financial officer Robert Recchia founder G.D. Crain Jr. [1885-1973] chairman Mrs. G.D. Crain Jr. [1911-1996]

OP-ED

New York’s recovery starts with shopping locally

I

f you pass by one of our two independent bookstores in Brooklyn on a Saturday this fall, you might see a line of people outside our door, as we operate at limited capacity for safety reasons.

Whether they discovered their favorite book on our shelves, met their favorite author at an event or taught their children how to read using books they bought through us, people are emotionally invested in our small business and feel we’re worth the wait.

The fact that our customers are prioritizing shopping with us means we can provide jobs for our employees, buy bookmarks from

ergy and resources, and our position is precarious.

Our business is one of the fortunate ones. Many small businesses have closed for good, and it’s estimated that one-third of the city’s 240,000 small businesses might not make it through the pandemic, according to the Partnership for New York. Nationwide, the American Booksellers Association estimates that 20% of independent bookstores might not survive until January.

Bookstores, and all small businesses nationwide, are being squeezed mercilessly between restrictions necessitated by the pandemic and the ubiquity of online shopping—specifically through Amazon.

During the past 10 years, vacant storefronts in New York City have risen by 50%. Shopping at Amazon offers cheap convenience, and whether it’s by necessity or a lack of awareness, many shoppers go directly to the online giant without a second thought. But even a moment’s scrutiny reveals that the benefits of Amazon’s convenience can’t outweigh the larger costs for our economy and our communities. Na-

SMALL BUSINESSES NATIONWIDE ARE BEING SQUEEZED MERCILESSLY our local printer and pay our window washer and our repair person.

It’s the reason we can pay rent to our local landlord and pay our taxes. But every sale in this new reality takes an enormous amount of en-

tionally, Amazon has produced an overall net loss of 900,000 jobs.

Align habits, values Now, when everything is precarious and changing, we have an opportunity to align our habits with our values. The simple act of choosing to shop local, multiplied by thousands of individuals nationwide, can have a big impact on how our communities recover from this disaster.

And small businesses such as ours are stepping up to the challenge of serving their customers in unprecedented times.

Many have adapted and innovated to offer online shopping, delivery, shipping or curbside pickup to minimize risk and provide convenience. This comes along with the customer service, unique culture and human connection that Amazon can never provide, no matter how hard it tries to capitalize on the trend by claiming to “support small.”

Every day we have an opportunity to make an intentional change and commitment—making a

COURTESY OF GREENLIGHT BOOKSTORE

BY REBECCA FITTING AND JESSICA STOCKTON BAGNULO

choice about what we buy and where—that could have a big impact on how our communities recover from the Covid-19 disaster.

So start small. Try buying your holiday gifts from local shops this year. Find out if your local bookstore, drugstore, grocery store, or home goods store does local delivery or curbside pickup. If you already shop local sometimes, consider what else you could purchase

locally rather than online. Emotionally and financially invest in your surroundings. You might find it’s easier than you think.

Every dollar you spend is a vote for the kind of community you value, and the kind of world you want to live in. ■ Rebecca Fitting and Jessica Stockton Bagnulo are the coowners of Greenlight Bookstore.

WEBCAST

Health care's gender divide: How the pandemic has hit women harder

November 17 | 11 A.M. – Noon The impacts of crises are never gender-neutral, and COVID-19 is no exception. Despite better mortality rates, women have been hit harder by the pandemic and its ensuing economic downturn; resulting in long term health implications. Join Crain’s and health care leaders at Northwell as we discuss their recent learnings on women’s health care from prevention to maintenance to innovations in health care delivery.

Kristina Deligiannidis, MD, Director, Women’s Behavioral Health, Zucker Hillside Hospital, Northwell Health

Michael Nimaroff, MD, Senior Vice President and Executive Director, Obstetrics & Gynecology, Northwell Health

Stacey E. Rosen, MD, Senior Vice President, Women’s Health Katz Institute for Women’s Health

Reserve your complimentary seat: CrainsNewYork.com/womenshpwebcast Sponsored by

Produced by

NOVEMBER 2, 2020 | CRAIN’S NEW YORK BUSINESS | 9

RESIDENTIAL REAL ESTATE

BY NATALIE SACHMECHI

A

by Rosen claims the U.S. arm of a Chinese development company usurped his control of a distressed Midtown condo tower by making a backdoor deal with the lender, according to a lawsuit filed Oct. 23 in state Supreme Court in Manhattan.

The partner in question, Vanke, went back on its agreement with Rosen’s RFR Realty by insinuating itself in the property’s debt dealings, Rosen said.

The China-based developer paid the Industrial and Commercial

property if Rosen remains in default. He is asking the court to fork over any of Vanke’s profits from the deal, plus damages and attorney’s fees.

‘Last resort’ Vanke US’s attorney, Dan Perry, said the suit was without merit and that its deal with the bank was an “option of last resort” that was necessary to protect its investment in the project. “RFR has elected to put its own interests ahead of the partnership’s interests,” Perry said. “Vanke US has worked diligently and collaboratively to protect the value of the project, and has offered RFR the opportunity to purchase an interest in the debt that is proportionate to its equity interest in the project.”

The real estate investors began work on the 63-story project in 2014, when they agreed to develop the condominium together under an LLC in which they both had an interest. The building is situated next to Rosen’s Seagram Building.

Under their agreement, however,

THE REAL ESTATE INVESTORS BEGAN WORK ON THE 63-STORY PROJECT IN 2014 Bank of China $115 million to acquire a piece of the $360 million loan on the building at 100 E. 53rd St., giving Vanke “the ultimate power to control the fate of the [building]—and by extension RFR’s interest,” the complaint said.

Vanke could foreclose on the

RFR had the exclusive right to deal with the building’s debts, according to the lawsuit, and so Vanke’s communication with the bank was a breach of contract, the complaint said.

When the mortgage on the property became due in full in May, Rosen couldn’t pay it off because of the damage the Covid-19 pandemic did to the luxury condo market, as well as the glut of high-end apartments spanning several years. He tried to negotiate with ICBC for an extension, but the bank refused.

Vanke then “self-servingly” offered to purchase the 25 least expensive units in the tower for $75 million in March to help pay down the mortgage and get the bank to offer an extension, according to the complaint.

That deal would only make things worse for RFR, the lawsuit said, because the developer would be stuck with the most expensive and therefore less marketable units. It wouldn’t be able to sell enough of them in one year to pay off the loan, RFR claimed, and so it made no sense to accept the deal.

The offer was “clear evidence that … Vanke was back-channeling with

BUCK ENNIS

Rosen claims he was outmaneuvered for control of Midtown tower

the lender about the loan,” which violated the agreement with RFR and its exclusive authority to deal with all the building’s debts, the lawsuit said.

After Rosen rejected Vanke’s offer, Vanke cut communications with his firm to “recklessly pursue a scheme to usurp RFR’s authority,” he alleged in the suit. By August, Vanke had al-

WEBCAST

ready purchased part of the loan and seized control of the project.

Vanke is now a “mole for the lenders,” Rosen charged, referring to Vanke’s position as both a borrower and lender on the project that still has insider access to the property’s dealings.

Vanke did not respond to a request for comment. ■

PANELISTS

November 10, 2020 | 11 A.M. – Noon

What Covid-19 Taught us about Underserved Communities in Health Care This webcast will discuss the pressing need to collect and evaluate Covid-19 data to ensure everyone has access to the resources they need, as well as better insight into how to meet the needs of certain communities.

Sponsored by

10 | CRAIN’S NEW YORK BUSINESS | November 2, 2020

Debbie Salas-Lopez, MD , MPH Senior Vice President, Community and Population Health, Northwell Health

Louise Cohen, MPH Chief Executive Officer, Primary Care Development Corporation (PCDC)

Register Now: CrainsNewYork.com/NovHPwebcast Produced by

November 2, 2020 S1

SPONSORED CONTENT

HOW PRIVATELY HELD COMPANIES ARE WEATHERING THE PANDEMIC

A

s the economic challenges and social restrictions brought on by Covid-19 continue, privately held companies struggle to keep their staff intact and continue to serve their customers.

Early economic support from the government came at a time when many expected the downturn and social-distancing measures to be short-lived. Although adverse conditions have persisted, the support has not.

This situation has tested the adaptability of organizational and overhead structures. For many, remote work has become a new normal and spending has tightened. Of course, businesses are at pains to make cuts to staff and overhead while continuing to serve their customers.

Now, with little hope of further governmental support, businesses are tasked with creating budgets amid uncertain demand. Some partially reopened regions have been forced to reverse course, and it’s unknown how quickly Americans will return to their previous consumption habits in an environment of high unemployment and lingering fears about the virus.

ANTHONY D’AGOSTINO Consulting Principal Grassi Advisors & Accountants adagostino@grassicpas.com 516.644.4759

ABBY E. PARSONNET Regional President Metro New York Webster Bank aparsonnet@websterbank.com 212.806.4543

At the same time, firms are positioning themselves for a post-pandemic economy. Privately held businesses in particular must ensure that they are sufficiently diversified to survive the pandemic and emerge poised to thrive.

To learn how these businesses have changed their thinking about human resources, budgeting and succession planning, Crain’s Content Studio turned to two experts in the field:

Advisory | Tax | Audit

• Abby Parsonnet, regional president for the New York metropolitan area at Webster Bank.

• Anthony D’Agostino, consulting principal at Grassi.

Running your business is never a straight path.

Crain’s: We are now many months into the COVID-19 pandemic and the resulting economic downturn. What are the key challenges for privately held companies as these conditions linger?

Anthony D’Agostino: After the initial influx of Paycheck Protection Program (PPP) funds and other emergency aid, many privately held companies are back to struggling to keep their employees paid as the pandemic and economic downturn persist far longer than anyone anticipated.

Even as certain industries remobilize, such as hospitality, food services, travel and fitness, continued social

P011_013_CN_20201102.indd 11

distancing requirements and changing consumer habits and attitudes will affect their recovery. Fixed operating costs are continuing, while demand is not rebounding quickly enough to enable a positive cash flow.

Privately held companies are also challenged with the reality that working parents need to accommodate virtual or hybrid school schedules that limit their ability to be in the workplace five days a week. The transition and workarounds will have a profound impact on workplace schedules, and businesses need to evolve their policies and procedures to be more employee-centric.

Abby Parsonnet: Uncertainty of demand is the key challenge for

Grassi consultants help you navigate the curves ahead.

Succession Planning | Operational Reviews | Cash Flow Management Corporate Restructuring | Valuations | M&A Due Diligence CFO Outsourcing | HR Consulting

Louis C. Grassi, CPA, CFE President & CEO 516.336.2450 | lgrassi@grassicpas.com grassicpas.com/consulting

10/29/20 2:37 PM

SPONSORED CONTENT

S2 November 2, 2020

HOW PRIVATELY HELD COMPANIES ARE WEATHERING THE PANDEMIC many privately held companies.

Because of the lingering pandemic and subsequent shutdowns and limitations on conducting business as usual, it is more challenging to confidently predict sales. This uncertainty has an impact on the entire supply chain.

With no end to the pandemic or effective use of mitigation techniques in sight, business leaders must find ways to be nimble in all aspects of their business model, which may include figuring out how to deliver goods and services virtually or how to be flexible in staffing and remote work to keep both employees and customers safe while maintaining productivity, corporate culture and profitability.

Crain’s: How should companies budget for next year when cash flow is so uncertain?

Parsonnet: Budgeting in times of uncertain demand is challenging but even more important than budgeting in times of stability or growth. It is essential that every business have a comprehensive, bottom-up model developed for their business so they can easily run scenarios with different assumptions. (If you can’t build one in Excel or a similar program, seek help from an accountant or reach out to a consultant who can build one for you.)

I recommend that businesses not only build an expected-case forecast, but also build a downside scenario (and in 2020 and 2021, perhaps a further downside scenario as well!). This will enable management to be nimble, to know what levers to pull to maximize or preserve cash flow in the face of such uncertainty, so they are prepared to respond quickly and proactively. It goes without saying that this model can be a useful tool for growth scenarios, where working capital can be stretched, as well.

D’Agostino: A cash-flow analysis is critical to the budgeting process every year, but especially amidst the uncertainties of 2020. A 13-week

effective technologies; and consider an operational review to identify wasted dollars. Business leaders should keep an open dialogue with their lenders, suppliers and supply chain providers, who may be willing to accommodate their needs until demand for their products and services improve beyond the break-even point.

Staying in communication with clients and customers is also key.

Understanding the client’s ability and timeline to pay is a critical component to making cash-flow, projectmanagement, inventory and other important business decisions.

Crain’s: Looking ahead, what opportunities exist for privately held companies to pivot from 2020 and better position themselves for postpandemic recovery and future growth?

D’Agostino: The hardest-hit companies will need to reinvent themselves. Outdoor dining and delivery services in the food and beverage industry are good examples.

We’ve seen many manufacturers pivoting their assembly lines to produce in-demand products, such as hand sanitizer, face masks and ventilators.

Service-based organizations have rapidly shifted services, client meetings and events online.

Those who don’t find ways to reinvent their business model, contain costs or find new revenue streams may need to consider other options, such as a transition of ownership through a merger or acquisition, a reorganization, employee furloughs or outsourcing executive functions to save on high salary costs.

Parsonnet: I’ve long been an advocate of a variable overhead structure. Management should understand what their core competencies are and where they really generate profits. With this

“WHEN OUTSOURCING HIGH-FIXED-COST FUNCTIONS, YOU GET THE ADDITIONAL BENEFIT OF A BUSINESS THAT CAN SEAMLESSLY SCALE UP IN GOOD TIMES AND EFFICIENTLY SHRINK IN CHALLENGING TIMES.” - ABBY PARSONNET projection of the cash flowing in and out of a business enables owners to make educated, data-driven decisions about how they move forward.

The cash-flow plan should factor in any cost-containment moves the company can make. This is the time to get creative and enter survival mode: Negotiate with vendors; objectively assess the workforce you need right now; explore more cost-

P011_013_CN_20201102.indd 12

understanding a management team can refine their business model around their core competencies and look to maximize profitability. If, for example, your core competencies are in design and sourcing, consider outsourcing other areas so that you can focus your resources on your core competencies. This could mean outsourcing warehousing and distribution or certain back-office

functions to best-in-class providers for whom those functions are their core competencies. When outsourcing high-fixed-cost functions, you get the additional benefit of a business that can seamlessly scale up in good times and efficiently shrink in challenging times. This approach can make a business more resilient in any economic environment.

Crain’s: For privately owned businesses, what would you say are the key “lessons learned” from the pandemic?

Parsonnet: Possessing a flexible overhead structure has been one of the key lessons learned. Good information and good preparation allow for quick action. The ability to quickly pivot, scale down and then scale back up as the situation changed has been invaluable for many businesses to survive the disruption to the supply chain early in the pandemic and the demand shocks triggered by the lockdowns. Another lesson learned is for businesses to realize how important it is to have an excellent financial system in place. Having a good grasp of actual revenue streams, outstanding receivables and payables, and the terms of all debt and other fixed obligations, for example, allows for timely decision making not only on critical issues but also on the ability to seize potential opportunities.

Finally, and perhaps most importantly, during a time of crisis, access to capital is absolutely critical. Developing and maintaining honest, transparent relationships with your banks will make it easier for them to properly support your financing requirements in difficult times.

D’Agostino: Many companies spent the relief funding they received on keeping their workforce and operations intact, thinking the recovery was only weeks away. I think many business owners are now realizing that crises of this magnitude require quick, decisive action and not a “wait-and-see” approach. Those that made tough but crucial decisions early on are largely weathering the crisis better than those who underestimated its severity or length.

Business owners are realizing the importance of risk management and business-continuity plans. Oftentimes, the cost and resources involved in developing the emergency plans and policies deter owners from pursuing or updating them. But COVID-19 has proved that the unexpected can — and will — come in many different forms and it’s essential to have up-to-date plans and policies to guide your steps in any situation.

Crain’s: What are some of the most effective ways privately held companies are bringing products or services to market to overcome the barriers caused by socialdistancing requirements?

D’Agostino: We have seen our manufacturing clients rise to the occasion and reinvent their business models to not only keep their plants open with social distancing compliance but also, in certain cases, completely reinvent their product line.

One company that made cloth bags for candy started manufacturing face masks. Another that made drumheads shifted to making face shields.

Of course, one of the most visible examples is food and beverage companies migrating to curbside pickup, outdoor dining and spacing tables six feet apart.

In a way, every company that is still functioning in this environment is innovating their preexisting operations. Workforces are finding ways to operate remotely; A/B schedules are allowing in-person staff to come to work safely and effectively; and workplace redesign is enabling rapid deployment of social-distancing measures.

Crain’s: If a business identifies the need to reduce staff, how can it maintain a strong core team and still deliver products and services efficiently?

Parsonnet: A strong corporate culture that is open and transparent, based on respect and a shared purpose, rallies employees to bring their best day in and day out. This is even more critical in moving forward after implementation of a headcount reduction because employees will trust that management needed to take this action, and that it was done fairly. It is important to communicate that to the best of your knowledge that this reduction was completed so that employees are not distracted and can focus on their work.

Now is an excellent time to consider the employee benefits you offer and see them as a vital retention and recruiting tool. Try to ensure you are providing a mix of options that is in step with the current challenges all employees are facing, not just with healthcare, but with school-age kids learning from home, for example, or taking care of elderly parents.

Offering flexible work arrangements to accommodate shifting schedules as well as services like discounted tutoring for kids while you work from home can provide a huge value to members of your team with little incremental cost. These strategies help build more loyalty and retain employees through tough times.

D’Agostino: While this may seem like a closed-door conversation among the owners, it is actually essential to have key managers involved in the decision process — and in the solution. Owners should be open with them about the problem and why reducing staff is necessary to the company’s survival. This decision

will greatly impact the managers’ ability to deliver and perform, and the insight they bring to the table will be invaluable.

Owners should be careful not to neglect the rest of their staff as they make these difficult decisions. These are the employees who will likely be asked to take on more responsibility in the process. As much as possible, leaders should try to be transparent about how furloughed or laid-off employees’ roles will be covered and communicate the potential and timeline to bring furloughed staff back.

Crain’s: How can companies determine how much office space they will need upon lease renewal in this new world? Will they still need individual offices and cubicles? In shared spaces, how can they ensure employees feel safe?

D’Agostino: I believe that working remotely is here to stay and companies that do administrative work will not need the same level of office space that they did before.

Consulting with a workforceplanning specialist can help a business owner objectively assess the level of staffing needed and the efficiency of jobs being performed remotely versus in person.

Shared spaces can be kept safe by having users of that space wear masks and clean surfaces before they leave the space. Owners should implement more rigorous cleaning schedules and employ a rotating staffing schedule to minimize interaction and maintain social-distancing measures.

Crain’s: How are PPP loan funds affecting borrowers’ end-of-year tax planning and financial reporting?

D’Agostino: The IRS has stated it will not allow the “double benefit” of deducting expenses that were paid for with forgiven PPP loan funds. This means that when a PPP borrower uses the forgiven funds on eligible expenses, those expenses cannot also be deducted on that year’s tax return. Congress would need to legislate an exception, and we have not seen any indication of that in any of the proposed relief packages, despite calls to do so by legislators, the American Institute of Certified Public Accountants and other authorities.

Given the unprecedented nature of PPP funds — namely, the potential for full loan forgiveness — borrowers will also face the challenge of how to report and account for the relief on their financial statements. Fortunately, the AICPA has released guidelines that clearly set forth the recommended accounting methods, but this does add an extra level of complexity to closing the books this year.

10/29/20 2:37 PM

SPO

November 2, 2020 S3

SPONSORED CONTENT

ABOUT THE PANELISTS

Crain’s: What gaps in business planning have the COVID-19 pandemic and mandatory shutdowns revealed for privately held companies?

What steps can they take now to fill those gaps?

Parsonnet: The pandemic certainly exposed a few gaps in planning. As I’ve stated earlier, the ability to remain flexible, outsource weaknesses and focus on core competencies allowed some companies to fare better than others throughout the pandemic.

The mandated shutdowns and social distancing requirements also revealed how important cloud-based technology solutions were for helping businesses quickly pivot to a new normal and continue business, even if it was on a modified basis.

In addition, the pandemic and ensuing retail apocalypse exposed the need for credit insurance or factoring. I often say, you wouldn’t think of not insuring your inventory or building. But accounts receivable, a major business

Crain’s: Can you talk about the impact the pandemic has had on business continuity and succession planning? What adjustments, if any, should privately held companies now consider to prepare for a possible sale or transition of ownership?

D’Agostino: For many companies that are not weathering the crisis well, the pandemic accelerated their succession plans, and they are looking at transitioning ownership sooner than planned. For those that are staying the course, there are strategic changes that can be made to minimize the impact of COVID-19 on their succession plans.

Assuming an owner has at least one to two years before the planned exit, they should make investments that will yield a significant return and minimize the loss in value caused by the crisis.

Some of the most dramatic results come from upgrades in technology.

Digitizing processes increases

“A CASH-FLOW ANALYSIS IS CRITICAL TO THE BUDGETING PROCESS EVERY YEAR, BUT ESPECIALLY AMIDST THE UNCERTAINTIES OF 2020.”

-ANTHONY D’AGOSTINO asset that provides critical liquidity, are often overlooked and unprotected from credit loss.

Finally, the uptick in cyberattacks that preyed on the uncertainty caused by the pandemic and took advantage of less rigorously protected home networks revealed the importance of cyber insurance for businesses of all sizes.

D’Agostino: Business plans are often static and assume a certain level of operation. When COVID-19 hit, companies were forced to cut back production and services beyond any normal operating range, forcing owners to get in closer touch with their fixed costs and open commitments. But it is not easy to turn off the spigot without a plan in place.

While the pandemic is an anomaly outside of normal business planning parameters, it teaches us the need to have contingency plans. This planning is not only from a personnel viewpoint, such as how to contain a virus and limit employee exposure, but also how to operate at a minimum level of staff.

This process includes identifying key players and developing a bottom-up business model wherein key drivers of activity are monitored and planned for.

Owners should reflect on the past few months and analyze any key dependencies they didn’t realize they had pre-pandemic. Now is the time to plan workarounds for these dependencies and add them to the business contingency plan.

efficiency, which in turn increases cost-effectiveness and profitability.

Business owners should also consider having an organizational review performed. An objective, third-party assessment of the efficiency of the operations, people and systems can yield many opportunities to improve the bottom line and position the company for a higher sale price.

Parsonnet: It may be the right time to review estate planning, depending on your goals. And you can take advantage of a lower business valuation as a result of the pandemic to transfer more out of your estate to future generations, at a potentially lower tax basis.

However, if your business is under duress at this point, or if your business succession involves a sale transaction, you could be leaving money on the table in the near term.

An earnout based on future profits could capture the value in a postpandemic recovery.

Finally, difficult financial times create investment opportunities for those with capital, strong management teams and the ability to quickly integrate distressed acquisitions.

Having both the proper team in place to facilitate diligence and access to capital positions a buyer to move quickly and acquire assets that may be strongly accretive in the long term or reposition the company for the future.

Anthony D’Agostino is a Consulting Principal in Grassi’s Manufacturing & Distribution practice. He has more than 40 years of experience in financial and operational strategies for multinational companies. Having served in CFO, COO, auditor and consultant roles, Anthony has a diverse background in advising public and private companies, startups, international organizations and Fortune 500 clients.

Anthony specializes in budgeting processes, financial reporting, internal controls, technology solutions and risk management for manufacturers and distributors. He also guides these companies through processes and decisions at key stages of the business cycle, including mergers and acquisitions, raising startup capital, initial public offerings (IPOs), positioning the business for sale, organizational restructuring, bankruptcy, turnarounds and workouts.

Throughout his career, Anthony has worked closely with general counsels on key agreements including licensing agreements for technology and trademarks and other important legal matters. Prior to joining Grassi, Anthony was the audit committee chairman for a public portfolio company. He also served as CFO and COO at several other portfolio companies, where he oversaw all financial functions, as well as the migration to a single enterprise system across all companies.

Anthony is an experienced audit and forensic accounting professional. He has performed forensic audit work for Big 4 accounting firms and Wall Street banks and has deep expertise in financial statements, Sarbanes-Oxley compliance, SEC reporting and R&D development status reporting.

Abby Parsonnet is Regional President for Metro New York. She joined Webster in August 2013 to lead the expansion Webster’s middle market banking activity and community affairs into the New York metropolitan area. Her middle market team focuses on delivering commercial banking services to clients in the Metro New York area which encompasses Westchester and Rockland Counties, Long Island, Northern New Jersey and the five boroughs of New York City.

Earlier in her career, Abby served as senior vice president and regional manager at JP Morgan Chase in a variety of roles including national head of remediation and head of the textile, apparel, and jewelry group.

She also served as a team leader in middle market and as a special credits officer. Prior to joining Webster, she was a restructuring advisor in the corporate finance practice of FTI Consulting, where she was a senior managing director.

Living up to the communities she serves, Abby is a board member of Big Brothers Big Sisters of NYC. Previously she was an officer, and founding member of Delivering Good. Abby is a member of the Fashion Service Network; she is a past recipient of the Partners in Kindness award from Sephardic Bikur Holim, Ort America’s Accounting, Banking and Attorney’s Community Achievement Award and was honored by Big Brothers Big Sisters of NYC Accountants and Bankers chapter.

Abby earned her bachelor’s degree from Brandeis University and her MBA from Boston University. She also earned a Certificate in Financial Planning from the New York University School of Continuing Education.

2020 EHL Lockup Layout Options Home Loan Lockup Layout Options

Nobody saw this year coming. But there are steps you can take to privately held company for everything ahead. Our Home Loanprepare Lockupyour Layout Options team of experts is ready to help you move forward, at your pace — get in touch and we can get you started.

All other products

All other products

HEALTH

$100

FROM PAGE 1

“Prior to Covid-19, we had time to ourselves that wasn’t work-related or home-related as we commuted,” Woodroffe said. A commute is now the distance between one’s bed and computer, he said. So TIAA implemented monthly healthy challenges for its employees and is encouraging them to take periodic breaks from their laptop. “We’re trying to re-create that downtime that is no longer easily accessible,” he said.

AMOUNT per day TIAA gives employees for child care to help them balance work tasks and family needs

their tasks remotely and those who have to go in to their workplace.

Each faces a unique set of challenges, said Robyn Gershon, clinical professor of epidemiology at NYU School of Global Public Health.

For remote staff, working from home addresses the fear of contracting Covid on the job. But this group faces isolation and a lack of delineation between their work and personal life, leading to exhaustion and burnout, she said.

For frontline and essential workers, the fear of contracting Covid-19 is constant. And as the public grows fatigued with mask wearing and social distancing, infection concerns compound, joined by new worries about altercations with customers over compliance, Gershon said.

Adding to the virus-related fears are tensions brought on by current events, including the presidential election and protests over police brutality, Gershon said. With winter coming and people spending more time indoors, all this cumulative angst creates a ticking time bomb that needs to be defused, she said.

The Metropolitan Transportation Authority realized early that transit workers are subject to a lot of stress because they are on the front lines.

It worked with its health plan, Aetna, to expand access to telemedicine, psychiatry and therapy, said Chris Lightbourne, director of member services at Transit Workers Union Local 100, which represents approximately 40,000 bus and subway workers.

Mount Sinai Hospital created the Center for Stress, Resilience and Personal Growth for its employees.

It provides up to 14 free sessions of psychotherapy as well as workshops aimed at bolstering resilience.

Such efforts were sorely needed.

The Kaiser Family Foundation 2020 Employer Health Benefits Survey, published in October, found that only 35% of firms said their network for mental health services was very broad in the number of providers offered Forty-six percent said they had a somewhat broad network, and 19% described theirs as somewhat narrow or very narrow. When

Coming up with solutions The city Department of Health has published mental health guides and updated the NYC Well referral service to help businesses navigate their options during the pandemic.

Susan Herman, director of the Mayor’s Office of ThriveNYC, noted it is critical that the city’s employers prioritize mental health in the workplace. The agency offers technical assistance and free online resources to help businesses, she said.

Many organizations have sought to increase employee access to mental health providers.

MARIN

WOODROFFE

TIAA

PERCENTAGE of firms that say their provider network for mental health services is very broad, according to a survey

seeking help, workers should not have to deal with the costs of visiting an out-of-network mental health provider, said Matthew Rae, associate director for the health care marketplace program at Kaiser and one of the study’s authors.

Firms have embraced tech solutions to boost well-being too. UI Path, a Midtown-based software company, in October began providing staff with free access to a meditation app as well as subscriptions to an audio-based fitness service.

“Studies have shown that staying physically active benefits mental health, and it’s great that technology has enabled us to tackle wellness on all fronts,” Gershon said.

Mount Sinai created its own app for employees and students in the health system that offers screening tools and workshops.

“This is about the time we expect to see a culmination of issues among staff, including post-traumatic stress disorder and major depression, and we’ve seen rapid downloads of our app,” said Dr.

Deborah Marin, director of the Center for Stress, Resilience and Personal Growth.

National corporations including Starbucks and Target in recent months have opted for mindfulness, counseling and fitness apps as well, according to news reports.

Supporting workers also means supporting their home environment, noted Woodroffe. TIAA enhanced its child care benefits to $100 per day from $65 as well as instituted flexible hours for associates. There is a commonly accepted guideline for staff working remotely not to handle child care during work hours, Woodroffe said.

“But we’ve learned to adopt a radical flexibility where if an employee has to juggle work and meeting their children’s needs, they should be able to take the time to address it and not be apologetic about it,” he said.

Some businesses are also trying to account for the alone time remote workers have lost now that entire families are home together 24/7.

MOUNT SINAI HEALTH SYSTEM

35%

Open communication is key A company can offer a raft of benefits, but without communication the impact will be limited.

“We need to remind workers that these services are available and destigmatize the seeking of them,” Lightbourne said.

Communication has to come from multiple channels, starting from the top of the leadership chain on down, Gershon said.

“Letting people know they’re being cared for makes them more likely to reach out for the services available,” Marin said.

TIAA has held multiple forums for employees to voice concerns and stay abreast of developments during the pandemic. And Verizon Media, based in Greenwich Village, was reported to have launched a daily newsletter addressing issues of isolation, anxiety and stress.

“Just even being able to talk about mental health in the workplace makes a difference, and that openness had not been common preCovid-19,” Woodroffe said.

For Isola, Mount Sinai’s new center has helped her team. With the corporate resources in place to help them become better equipped to handle their trigger points, the spirit of feeling good about their work is more visible these days, she said.

“That brightness is coming back,” Isola said. ■

TRANSPORTATION

Automobile traffic remains 30% below pre-pandemic levels

BY AARON ELSTEIN

since mid-March.

A CBRE report last month showed only 10% of Manhattan office workers were back. And no one is driving into the city to see a show or a ballgame.

On the bright side, less gridlock means many fewer collisions. Motor-vehicle accidents have fallen by nearly half this year, according to Police Department data.

E

Trucks are back

BUCK ENNIS

very driver crawling through the city’s streets and highways knows traffic jams are back.

But traffic is not.

About 30% fewer cars are roaming New York than before the city locked down in mid-March, according to data compiled by TomTom, a Netherlands-based software company.

TomTom’s crowdsourced data is consistent with Port Authority statistics showing a 31% decline in cars entering the city via bridges and tunnels during the past seven months.

The persistent decline in traffic could help explain why the Covid-19 pandemic has been contained in the city, apart from isolated outbreaks in parts of Brooklyn and Queens.

TomTom data show traffic in London, Berlin and Milan returned to pre-pandemic levels during the summer. Those cities now are facing renewed restrictions on travel and socializing to contain outbreaks.

“Crowd-sourced traffic data is proving effective in determining when Western cities have opened up ‘too much,’ ” DataTrek Research co-founder Nicholas Colas said in a recent report, citing the TomTom data. “How much population mo-

14 | CRAIN’S NEW YORK BUSINESS | NOVEMBER 2, 2020

bility is even advisable in Western countries right now?”

Empty spaces In the spring, parking garage owners said they expected a surge in business as commuters shunned

trains. Although subway ridership has fallen by two-thirds, it doesn’t appear many people are driving to work. One indicator: Shares in Standard Parking’s owner, SP Plus, have fallen by 60% since the lockdown began and haven’t budged

Even as car traffic remains depressed, though, truck traffic has recovered. Port Authority data showed more trucks entered the city in July than in the same month a year ago, and in August there was just a 2.5% decline. Trucking officials attribute the recovery to businesses restocking depleted inventories and consumers ordering more goods online.

The surge in street-hogging trucks might explain why the city’s roads can seem as congested as they ever were.

“This doesn’t mean the Van Wyck isn’t jammed at 11 p.m.,” Colas said.

“It is, as we can attest to.” ■

NEW YORK’S LARGEST PRIVATE COMPANIES Covid Hits Hard, But Some Firms Thrive CRAIN’S LIST of privately held companies is ranked by revenue earned last year, when the economy was breezing through a Covid-free world. The data, therefore, do not reflect the pandemic’s full effects. But there’s no debating that Covid-19 has hit the metropolitan area’s largest private companies hard.

As employees have transitioned to full-time remote work, shared-workspace providers WeWork and Knotel are confronting a bleak outlook.

Facing depressed appetite for city real estate, Compass has cut many agents from its payroll.

With in-person entertainment all but eliminated, local sports franchises including the Yankees, Nets and Devils are staring at drastically reduced revenues.

It isn’t all bad news for the area’s largest privately held companies, though. UiPath and Sprinklr both raised hundreds of millions of dollars in venture funding this year, pushing their valuations well past the coveted nine-figure mark. Another unicorn, Oscar Health, continues to expand the footprint of its insurance offerings. All those companies could fall off next year’s list by going public.

So, even though the pandemic has sapped much of the economy’s juice, some firms are proving to investors that their business models can thrive in trying conditions.

—Gerald Schifman

November 2, 2020 | CRAIN’S NEW YORK BUSINESS | 15

THE LIST LARGEST PRIVATELY HELD COMPANIES New York–area companies ranked by 2019 revenue

RANK

1 2 3

COMPANY

PHONE/ WEBSITE

TOP EXECUTIVE(S)

2020 PROJECTED REVENUE (IN MILLIONS)/ % CHANGE VS. 2019

2020 TOTAL COMPANY EMPLOYEES 1 NATURE OF BUSINESS

RAN

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

212-649-2000 hearst.com

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

$11,400.0 0.0%

n/d

24,000 Global diversified media, information and services

Bloomberg LP 2 731 Lexington Ave. New York, NY 10022

212-318-2000 bloomberg.com

Michael Bloomberg Founder, president, chief executive

$10,000.0 0.0%

n/d

20,000 Global business, financial information and news

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

212-220-5000 horizonmedia.com

Bill Koenigsberg Founder, president, chief executive Eileen Benwitt, Vincent O'Toole Executive vice presidents

$9,300.0 +6.9%

$8,600.0 -7.5%

2,400 Media services

Structure Tone/Pavarini McGovern 330 W. 34th St. New York, NY 10001

212-481-6100 structuretone.com

Michael Neary President, Structure Tone Eric McGovern President and chief executive, Pavarini McGovern

$7,888.0 +60.8%

$8,000.0 +1.4%

3,320 Construction management and general contracting

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

914-696-9000 cng-inc.com

Andrew Wallach President, chief executive

$6,500.0 +4.8%

$6,100.0 -6.2%

2,900 Pulp, paper, packaging material and forest product sales and distribution

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

212-956-5803 ragny.com

John Catsimatidis Chairman, president, chief executive

$6,500.0 -7.1%

$6,000.0 -7.7%

8,200 Retail, energy and real estate

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

212-821-1600 standardindustries.com

David Millstone, David Winter Co-chief executives

$6,100.0 0.0%

n/d

Renco Group Inc. 2 1 Rockefeller Plaza New York, NY 10020

212-541-6000 rencogroup.net

Ira Rennert Founder, chairman, chief executive

$4,800.0 -4.0%

n/d

12,000 Military vehicles, automotive interiors, pallet racks, magnesium and refined metals

WeWork 115 W. 18th St. New York, NY 10011

646-389-3922 wework.com

Sandeep Mathrani Chief executive

$3,500.0 3 +92.1%

n/d

n/d Provider of shared workspaces, technology and services

Infor 641 Sixth Ave. New York, NY 10011

646-336-1700 infor.com

Kevin Samuelson Chief executive Rod Johnson Global president, chief revenue officer

$3,200.0 +1.7%

n/d

B&H Foto and Electronics Corp.

420 Ninth Ave. New York, NY 10001

212-444-6615 bhphotovideo.com

Herman Schreiber Owner

$2,940.0 4 -2.0%

n/d

Univision Communications Inc. 2 605 Third Ave. New York, NY 10158

corporate.univision.com

Vince Sandusky Chief executive

$2,700.0 -10.0%

n/d

1,000 Hispanic-American media

Sigma Plastics Group 2 Page and Schuyler avenues Lyndhurst, NJ 07071

201-933-6000 sigmaplasticsgroup.com

Alfred Teo Chairman, chief executive Mark Teo President, chief operating officer

$2,600.0 -11.9%

n/d

4,500 Flexible packaging

Continental Grain Co. 2 767 Fifth Ave. New York, NY 10153

212-207-5100 continentalgrain.com

Paul Fribourg Chairman, chief executive

$2,500.0 n/d

n/d

Trammo Inc. 667 Madison Ave. New York, NY 10065

212-223-3200 trammo.com

Edward Weiner President, chief executive

$2,267.2 -29.1%

n/d

4 5 5 7 8 9 10 11 12 13 14 15 Apple of his eye 16 16 18 19 20 21

advance.com Donald Newhouse, Advance Publications Inc. 2 1 World Trade Center Steven Newhouse New York, NY 10007 Co-presidents EVEN COMPANIES WITH A HAND in a half-dozen indus-

BUCK ENNIS

2019 REVENUE (IN MILLIONS)/ % CHANGE VS. 2018

COMPANY SPOTLIGHT

tries are vulnerable to the effects of the pandemic.

Red Apple Compass 212-913-9058 Robert Reffkin After reporting a revenue dip in 2019, Red Apple Group 90 Fifth Ave. compass.com Co-founder, chief executive Group Inc. forecasts another decrease for this year. Ori Red Apple, New York, NY 10011 Allon known for businesses in oil refinement,Co-founder, real estate executive chairman development and supermarket operations, is one of ICC Industries Inc. John Farber a three companies in212-521-1700 the list’s top 10 to acknowledge 460 Park Ave. downturn in its 2020 iccchem.com revenue prospects. Founder, chairman New York, NY 10022 Sarcone be the only The conglomerate’s rebound might notBlaise President, chief financial officer focus for founder John Catsimatidis in the coming year. told the New York Post that he is considImperial Bag & Catsimatidis Paper Co. 201-437-7440 Robert Tillis ering the launch of a $100 million campaign to be255 U.S. 1 & 9 imperialdade.com Chief executive come the city’s next mayor. If the magnate CATSIMATIDISJersey City, NJ 07306 Jasonwere Tillis to President pull out an unexpected conservative victory in the general election next year, he’d give children Andrea and John Jr. the keys to his Key Food Stores Co-Operative Inc. 848-202-3100 — Gerald Dean Janeway business empire.

Schifman

#5

Chief executive

n/d Global building materials

17,380 Enterprise software

n/d Photo and video equipment retailer

11,000 Food, agribusiness and commodities n/d Commodity trading, distribution and transportation

Weaker workforce

$2,000.0 -9.1%

n/d

9,000 Newspapers and magazines

COVID-19 HAS CUT drastically into city employment at private companies. $2,000.0 5 +100.0% 5M

n/d

$1,850.0 -2.6%

n/d Technology-driven real estate Cityplatform employment as of September

$1,850.0 0.0%

2,065 Chemicals, pharmaceuticals, 3.48M plastics, paint and resins manufacturing and trading

$1,850.0 +6.5%

3,000 Wholesale food service, packaging and janitorial supplies

4M $1,737.9 +17.9%

3M

2010

$1,596.0 +11.0%

2012

$1,661.0 +4.1%

100 Matawan Road Matawan, NJ 07747 6

keyfood.com

Prestige Employee Administrators Inc. 538 Broadhollow Road Melville, NY 11747

516-692-8505 prestigepeo.com

Andrew Lubash Principal Eric Foodim Chief operating officer

$1,557.6 +25.2%

n/d

Goya Foods Inc.

201-348-4900

Robert Unanue

$1,500.0

$1,500.0

2014

2016

2018

1 1 1 1 1 11 1 21 31 41 52 52 72 8 2 9 2 1 2 12 1 2 12 12 13 1 31 13 13 23 23

2020

155 Supermarket cooperative Source: State Department of Labor

16 | CRAIN’S NEW YORK BUSINESS | November 2, 2020

n/d Professional employer organization

4,500 Food manufacturing, packaging

l

um

n

mber

8M

es

020

Labor

tion

g

10 11 12 13 14 15 1 16 216 318 419 520 521 722 8 22 9 24 10 25 11 26 12 27 13 28 14 29 15 30 16 31 16 32 18 33 19 33 20 35 21 RANK

Infor 641 Sixth Ave. New York, NY 10011

646-336-1700 infor.com

Kevin Samuelson Chief executive Rod Johnson Global president, chief revenue officer

$3,200.0 +1.7%

n/d

B&H Foto and Electronics Corp.

420 Ninth Ave. New York, NY 10001

212-444-6615 bhphotovideo.com

Herman Schreiber Owner

$2,940.0 4 -2.0%

n/d

Univision Communications Inc. 2 605 Third Ave. New York, NY 10158

corporate.univision.com

Vince Sandusky Chief executive

$2,700.0 -10.0%

n/d

1,000 Hispanic-American media

Sigma Plastics Group 2 Page and Schuyler avenues Lyndhurst, NJ 07071

201-933-6000 sigmaplasticsgroup.com

Alfred Teo Chairman, chief executive Mark Teo President, chief operating officer

$2,600.0 -11.9%

n/d

4,500 Flexible packaging

212-207-5100

Paul Fribourg Chairman, chief executive

2019$2,500.0 REVENUE (IN MILLIONS)/ n/d % CHANGE VS. 2018

n/d 2020 PROJECTED REVENUE (IN MILLIONS)/ % CHANGE VS. 2019

$11,400.0 $2,267.2 0.0% -29.1%

n/d n/d

$2,000.0 -9.1%

n/d

9,000 Newspapers and magazines

$10,000.0 $2,000.0 0.0% 5 +100.0%

n/d n/d

20,000 Global business, financial n/d information Technology-driven real estate and news platform

Continental Grain Co. 2 767 Fifth Ave. COMPANY New York, NY 10153

PHONE/ continentalgrain.com WEBSITE

Hearst Trammo Inc. 300 57th St. 667 W. Madison Ave. New New York, York, NY NY 10019 10065

212-649-2000 212-223-3200 hearst.com trammo.com

Advance Publications Inc. 2 1 World Trade Center New York, NY 10007 Bloomberg LP 2 Compass 731 Lexington Ave. 90 Fifth New York,Ave. NY 10022 New York, NY 10011 Horizon Media Inc. 75 Varick St. ICC Industries Inc. New York, NY 10013 460 Park Ave. New York, NY 10022

advance.com 212-318-2000 212-913-9058 bloomberg.com compass.com 212-220-5000 horizonmedia.com 212-521-1700 iccchem.com

TOP EXECUTIVE(S)

Steven EdwardSwartz Weiner President, President, chief chief executive executive William Hearst III Chairman DonaldBennack Newhouse, Frank Jr. Steven Newhouse Executive vice chairman Co-presidents Michael Bloomberg Robert Reffkin Founder, president, chief executive Co-founder, chief executive Ori Allon Bill Koenigsberg Co-founder, executive chairman Founder, president, chief executive John Farber Eileen Benwitt, Founder,O'Toole chairman Vincent Blaise Sarcone Executive vice presidents President, chief financial officer Michael Neary Robert Tillis President, Structure Tone ChiefMcGovern executive Eric Jason Tillisand chief executive, President PresidentMcGovern Pavarini

17,380 Enterprise software

n/d Photo and video equipment retailer

11,000 Food, agribusiness and 2020 TOTAL COMPANY commodities EMPLOYEES 1 NATURE OF BUSINESS

24,000 diversified media, n/d Global Commodity trading, distribution information and services and transportation

$9,300.0 +6.9% $1,850.0 -2.6%

$8,600.0 -7.5% $1,850.0 0.0%

2,400 Media services

$7,888.0 $1,737.9 +60.8% +17.9%

$8,000.0 $1,850.0 +1.4% +6.5%

3,320 Construction management and 3,000 general Wholesale food service, contracting packaging and janitorial supplies

2,065 Chemicals, pharmaceuticals, plastics, paint and resins manufacturing and trading

Structure Tone/Pavarini McGovern Imperial BagSt. & Paper Co. 330 W. 34th 255 York, U.S. 1NY&10001 9 New Jersey City, NJ 07306

212-481-6100 201-437-7440 structuretone.com imperialdade.com

Key FoodNational Stores Co-Operative Inc. Central Gottesman Inc. Matawan Road 3100 Manhattanville Road Matawan, NY NJ 07747 Purchase, 10577 6

848-202-3100 914-696-9000 keyfood.com cng-inc.com

Dean Janeway Andrew Wallach Chief executive President, chief executive

$1,596.0 $6,500.0 +11.0% +4.8%

$1,661.0 $6,100.0 +4.1% -6.2%

155 Pulp, Supermarket cooperative 2,900 paper, packaging material and forest product sales and distribution

Prestige Administrators Red AppleEmployee Group Inc. Inc. Third Ave. 800 538 York, Broadhollow Road New NY 10022 Melville, NY 11747 Standard Industries Foods 9Goya W. 57th St.Inc. 350 York, County New NYRoad 10019 Jersey City, NJ 07094 Renco Group Inc. 2 Burch Plaza 1Tory Rockefeller 11 W.York, 19thNYSt. New 10020 New York, NY 10011 WeWork 115 W. 18th St. New York, NY 10011 NFP Infor 340 Madison Ave. 641 New Sixth York, Ave. NY 10173 New York, NY 10011 J.T. Magen & Co. Inc. 44 W. 28th St. New York, NY 10001 B&H Foto and Electronics Corp.

Gellert Global 420 Ninth Ave. Group 8 1 Atalanta Plaza New York, NY 10001 Elizabeth, NJ 07206 Univision Communications Inc. 2 605 Third Ave. OscarYork, Health New NY 10158 75 Varick St. Sigma Plastics Group 2 New York, NY 10013 Page and Schuyler avenues Allied Beverage Group Lyndhurst, NJ 07071 700 Kapowski Road Elizabeth, NJ 07201 Continental Grain Co. 2 Manhattan Beer Distributors 767 Fifth Ave. 955 York, E. 149th St. New NY 10153 Bronx, NY 10455 Trammo Inc. Hunter Roberts 667 Madison Ave.Construction Group 55 Water New York, St. NY 10065 New York, NY 10041 Advance Publications Inc. 2 Associates 1Fedway World Trade CenterInc. and Affiliates 20 North East New York, Ave. NY 10007 Elizabeth, NJ 07201 Compass 90 Fifth Ave. New York, NY 10011

516-692-8505 212-956-5803 prestigepeo.com ragny.com

Andrew Lubash John Catsimatidis Principal president, chief Chairman, Eric Foodim executive Chief operating officer David Millstone, RobertWinter Unanue David Presidentexecutives Co-chief

$1,557.6 $6,500.0 +25.2% -7.1%

n/d $6,000.0 -7.7%

n/d Retail, Professional 8,200 energyemployer and real organization estate

$6,100.0 $1,500.0 0.0% 0.0%

n/d $1,500.0 0.0%

n/d Global building materials 4,500 Food manufacturing, packaging and distribution

Ira Rennert Tory Burch Founder, chairman, chief executive Founder, executive chairman, chief creative officer Sandeep Mathrani Pierre Yves-Roussel Chief Chief executive executive

$4,800.0 $1,500.0 -4.0% 7 0.0%

n/d n/d

12,000 Military vehicles, automotive n/d interiors, Women'spallet clothing designer and racks, magnesium retailer and refined metals

$3,500.0 3 +92.1%

n/d

n/d Provider of shared workspaces, technology and services

Douglas Hammond Kevin Samuelson Chairman, chief executive Chief executive Rod Johnson Mauricepresident, Regan chief revenue Global President officer

$1,461.0 $3,200.0 +17.3% +1.7%

n/d n/d

$1,379.3 +13.0%

n/d

n/d Construction management and general contracting

$2,940.0 4 $1,370.0 -2.0% +5.4%

n/d n/d

n/d Photo and video equipment 353 retailer Imported food products

$2,700.0 -10.0% $1,300.0 9 +24.7% $2,600.0 -11.9% $1,200.0 -2.0%

n/d

844-392-7589 hioscar.com 201-933-6000 sigmaplasticsgroup.com 800-313-6769 alliedbeverage.com

Herman Schreiber George Gellert Owner Chairman, chief executive Andrew Gellert Vince Sandusky President Chief executive Mario Schlosser Chief executive Alfred Teo Chairman, chief executive JeffreyTeo Altschuler Mark President, chief chief operating executive officer President,

212-207-5100 718-292-9300 continentalgrain.com manhattanbeer.com

Paul Fribourg Simon Bergson Chairman, chief executive President, chief executive

212-223-3200 212-321-6800 trammo.com hrcg.com advance.com 973-624-6444 fedway.com

ICC Industries Inc. Inc. Crestron Electronics 460 Park Drive Ave. 15 Volvo New York, NY Rockleigh, NJ10022 07647

212-521-1700 201-767-3400 iccchem.com crestron.com

Outbrain Imperial BagSt.& Paper Co. 39 W. 13th 255 & 10011 9 New U.S. York,1NY Jersey City, NJ 07306

646-867-0149 201-437-7440 outbrain.com imperialdade.com

Taboola Key Food Stores Co-Operative Inc. 16 Madison Square West 100 Road New Matawan York, NY 10010 Matawan, NJ 07747 6 Diversified Prestige Administrators 37 MarketEmployee St. Inc. Kenilworth, NJ 07033 538 Broadhollow Road Melville, NY 11747 Publishers Clearing House Goya Foods Inc. 300 Jericho Quadrangle

212-821-1600 201-348-4900 standardindustries.com goya.com 212-541-6000 212-683-2323 rencogroup.net toryburch.com 646-389-3922 wework.com 212-301-4000 646-336-1700 nfp.com infor.com 212-790-4200 jtmagen.com 212-444-6615 908-351-8000 bhphotovideo.com gellertglobalgroup.com corporate.univision.com

212-913-9058 compass.com

212-206-7663

WANT MORE OF 848-202-3100 taboola.com keyfood.com

844-767-2738 516-692-8505 diversifiedus.com prestigepeo.com 800-459-4724 201-348-4900 pch.com

5,780 Insurance brokerage and 17,380 Enterprise consulting software

1,000 Hispanic-American media

$2,200.0 +69.2% n/d

4,500 Flexible packaging

$1,350.0 +12.5%

1,000 Wholesale distribution of wines, spirits and other beverages

$2,500.0 $1,178.0 n/d +5.3%

n/d $1,200.0 +1.9%

11,000 Food, agribusiness and 1,540 commodities Beer, wine and spirits distribution

Edward Weiner James McKenna President, chief executive President, chief executive

$2,267.2 $1,165.0 -29.1% +10.0%

n/d $1,007.0 -13.6%

Donald Newhouse, RichardNewhouse Leventhal Steven Chairman, chief executive Co-presidents John Devin Robert Reffkin President, Fedway Associates Co-founder, chief executive Ralph Ippolito Ori Allon inter-metro/heavyPresident, Co-founder, executive chairman weight trucking

$2,000.0 $1,104.3 -9.1% +15.9%

n/d $1,184.0 +7.2%

n/d Commodity trading, distribution 375 and Construction management, transportation general contracting and designbuild 9,000 Newspapers and magazines 1,000 Importing and distributing wines and spirits; logistics and trucking; real estate development n/d Technology-driven real estate platform

John Farber Randy Klein Founder, President,chairman chief executive Blaise Sarcone President, chief financial officer Yaron Galai Robert Tillis co-chief executive Co-founder, Chief Davidexecutive Kostman Jason Tillis Co-chief executive President Adam Singolda CRAIN’S EXCLUSIVE DATA? Dean Janeway Founder, chief executive Chief executive Fred D'Alessandro Andrew Founder,Lubash chief executive Principal Kevin Collins Eric Foodim President Chief operating officer Andy Goldberg Robert Unanue Chairman, president, chief

1,400 Tech-driven health insurance

$2,000.0 5 +100.0%

n/d

$1,850.0 $1,065.1 4 -2.6% +6.5%

$1,850.0 n/d 0.0%

2,065 n/d Chemicals, Building andpharmaceuticals, home automation plastics, paint and resins and control solutions manufacturing and trading

$1,000.0 10 $1,737.9 n/d +17.9%

n/d $1,850.0 +6.5%

n/d Content discovery platform 3,000 Wholesale food service, packaging and janitorial supplies

$1,000.0 11

n/d

VISIT CRAINSNEWYORK.COM/LISTS. $1,596.0 $1,661.0 0.0% +11.0%

$991.2 4 $1,557.6 +33.7% +25.2% $980.0 12 $1,500.0 -1.0%

+4.1%

n/d Content discovery and native 155 Supermarket advertising cooperative

| CRAIN’S NEW presentation, YORK BUSINESS | 17 n/d November 2, 2020 2,500 Audiovisual n/d n/d Professional employer organization broadcast, information technology and services

n/d $1,500.0

n/d Marketing merchandise and 4,500 Food manufacturing, packaging magazine subscriptions with

29 30

955 E. 149th St. Bronx, NY 10455

manhattanbeer.com

President, chief executive

+5.3%

+1.9%

Hunter Roberts Construction Group 55 Water St. New York, NY 10041

212-321-6800 hrcg.com

James McKenna President, chief executive

$1,165.0 +10.0%

$1,007.0 -13.6%

375 Construction management, general contracting and designbuild

Richard Leventhal Chairman, chief executive John Devin President, Fedway Associates Ralph Ippolito President, inter-metro/heavyweight trucking

$1,104.3 +15.9%

$1,184.0 +7.2%

1,000 Importing and distributing wines and spirits; logistics and trucking; real estate development

$1,065.1 4 +6.5%

Fedway Associates Inc. and Affiliates 973-624-6444 fedway.com 20 North Ave. East Elizabeth, NJ 07201

THE LIST

31

LARGEST PRIVATELY HELD COMPANIES

32 33 33 1 35 2 36 337 438 539 540 741 8 942 43 10 44 11 45 12 46 13 47 14 48 15 viral Going 49 16 50 16 51 18 51 19 53 20 54 21 55

BUCK ENNIS

RANK

Crestron Electronics Inc. 15 Volvo Drive Rockleigh, NJ 07647

201-767-3400 crestron.com

Randy Klein President, chief executive

Outbrain 39 W. 13th St. New York, NY 10011

646-867-0149 outbrain.com

Yaron Galai Co-founder, co-chief executive David Kostman TOP EXECUTIVE(S) Co-chief executive

Hearst Taboola 300 W. 57th Square St. 16 Madison West New New York, York, NY NY 10019 10010

212-649-2000 212-206-7663 hearst.com taboola.com

Diversified 37 Market St. Kenilworth, NJ 07033 Bloomberg LP 2 731 Lexington Ave. Publishers New York, NYClearing 10022 House 300 Jericho Quadrangle Horizon Media Inc. Jericho, NY 11753 75 Varick St. KindYork, Healthy Snacks New NY 10013 3 Times Square New York, NY 10036

844-767-2738 diversifiedus.com

Steven Swartz Adam Singolda President, chiefexecutive executive Founder, chief William Hearst III Chairman Fred D'Alessandro Frank Bennack Jr. Founder, chief executive Executive vice chairman Kevin Collins Michael PresidentBloomberg Founder, president, chief executive Andy Goldberg Chairman, president, chief Bill Koenigsberg executive Founder, president, chief executive DanielBenwitt, Lubetzky Eileen Founder,O'Toole executive chairman Vincent Mike Barkley Executive vice presidents Chief executive Michael Neary David McWilliams President, Structure Tone Partner, chief executive Eric McGovern Joseph Romano President and chief executive, Partner, McGovern president Pavarini

COMPANY

PHONE/ WEBSITE

212-318-2000 bloomberg.com 800-459-4724 pch.com 212-220-5000 horizonmedia.com 855-884-5463 kindsnacks.com

Structure Tone/Pavarini McGovern JRM W. Construction 330 34th St. Management 242 York, W. 36th St. New NY 10001 New York, NY 10018

212-481-6100 929-233-9518 structuretone.com jrmcm.com

Curry Automotive Central National Gottesman Inc. Central Ave. Road 3727 Manhattanville Scarsdale,NY NY10577 10583 Purchase,

914-725-3500 914-696-9000 currycars.com cng-inc.com

8 Weeks Marine Inc. Red Apple Group Inc. 4 Commerce 800 Third Ave.Drive Cranford, New York, NJ NY 07016 10022

Turtle & Hughes Inc. 8 Standard Industries Lower 91900 W. 57th St.Road Linden, 07036 New York,NJNY 10019

$1,000.0 10 n/d 2019 REVENUE (IN MILLIONS)/ % CHANGE VS. 2018

n/d

n/d Building and home automation and control solutions

n/d

n/d Content discovery platform

2020 PROJECTED REVENUE (IN MILLIONS)/ % CHANGE VS. 2019

$11,400.0 $1,000.0 11 0.0% 0.0% $991.2 4 +33.7% $10,000.0 0.0% $980.0 12 -1.0% $9,300.0 +6.9% $834.7 4 +4.3%

2020 TOTAL COMPANY EMPLOYEES 1 NATURE OF BUSINESS

n/d n/d

24,000 n/d Global Contentdiversified discoverymedia, and native information advertising and services

n/d

2,500 Audiovisual presentation, broadcast, information technology and services 20,000 Global business, financial information and news n/d Marketing merchandise and magazine subscriptions with 2,400 Media gamesservices and lotteries

n/d n/d $8,600.0 -7.5% n/d

n/d All-natural snack foods

$7,888.0 $825.1 13 +60.8% +50.0%

$8,000.0 n/d +1.4%

3,320 Construction management and n/d general Construction management and contracting general contracting

BernardWallach Curry III Andrew Owner, chief executive President, chief executive

$773.1 $6,500.0 +1.0% +4.8%

$700.0 $6,100.0 -9.4% -6.2%

667 Pulp, Auto dealerships 2,900 paper, packaging material and forest product sales and distribution

908-272-4010 212-956-5803 weeksmarine.com ragny.com

Richard Weeks John Catsimatidis Chairman president, chief Chairman, executive

$764.9 $6,500.0 +11.0% -7.1%

n/d $6,000.0 -7.7%

430 Retail, Maritime construction, dredging 8,200 energy and real estate and tunneling services

732-574-3600 212-821-1600 turtle.com standardindustries.com

Jayne Millstone, Millard David Chairman, David Winterco-chief executive Kathleenexecutives Shanahan Co-chief Co-chief executive Ira LuisRennert Valls Founder, Presidentchairman, chief executive

$759.0 $6,100.0 +0.5% 0.0%

n/d n/d

$4,800.0 -4.0%

n/d

$753.0 $3,500.0 +8.0% 3 +92.1%

n/d n/d

$717.5 $3,200.0 +8.7% +1.7%

n/d n/d

n/d Executive search and assessment 17,380 Enterprise software

$716.7 -0.7%

n/d

n/d Logistics and transportation

$2,940.0 4 $683.0 -2.0% 14 +2.2%

n/d n/d

n/d Photo and video equipment n/d retailer Professional baseball team

$2,700.0 -10.0%

n/d

1,000 Hispanic-American media

$673.3 $2,600.0 +0.1% -11.9%

n/d n/d

504 Wholesale food distribution 4,500 Flexible packaging

Renco Group Inc. 2 212-541-6000 1 Rockefeller Plaza rencogroup.net New York, NY 10020 212-689-5555 Phil Shawe TransPerfect WeWork 646-389-3922 Sandeep transperfect.com President,Mathrani chief executive 1250 Broadway 115 18th wework.com Chief executive New W. York, NY St. 10001 New York, NY 10011 212-351-2000 Justin Cerilli Russell Reynolds Associates Infor 646-336-1700 Kevin Samuelson russellreynolds.com Managing director, area manager 277 Park Ave. 641 infor.com Chief executive New Sixth York, Ave. NY 10172 New York, NY 10011 Rod Johnson Alliance Shippers Inc. 201-227-0400 Jonathan Lefcourtchief revenue Global president, 516 Sylvan Ave. alliance.com President officer Englewood Cliffs, NJ 07632 B&H Foto and Electronics Corp.

212-444-6615 Herman Schreiber New Ninth York Yankees 646-977-8400 Hal Steinbrenner 420 Ave. bhphotovideo.com Owner 1 E. York, 161stNYSt.10001 yankees.com Managing general partner, New Bronx, NY 10451 co-chairman Univision Communications Inc. 2 corporate.univision.com Vince RandySandusky Levine 605 Third Ave. Chief executive President New York, NY 10158 Krasdale Foods Inc. 914-694-6400 Charles Krasne Sigma Plastics Group 2 201-933-6000 Alfred Teo chief executive 65 W. Red Oak Lane krasdalefoods.com President, Page Schuyler avenues sigmaplasticsgroup.com Chairman, chief executive Whiteand Plains, NY 10604 Lyndhurst, NJ 07071 Mark Teo Sugar Foods Corp.

212-753-6900 Donald Tober President, chief operating officer 950 Third Ave. sugarfoods.com Owner, chairman 212-207-5100 Paul Fribourg Continental Co. 2 New York, NYGrain 10022 767 Fifth Ave. continentalgrain.com Chairman, chief executive 866-283-7374 David McInerney FreshDirect New York, NY 10153 freshdirect.com Co-founder, chief executive 2 St. Ann's Ave. Trammo 212-223-3200 Edward Weiner Bronx, NYInc. 10454 667 Madison Ave. trammo.com President, chief executive 718-786-9400 Anthony Mann E-J Electric Co. New York, NYInstallation 10065 ej1899.com President, chief executive 46-41 Vernon Blvd.

COMPANY 2 advance.com Donald Newhouse, Advance Publications Inc. Long Island City, NY 11101 SPOTLIGHT 1 World Trade Center Steven Newhouse OUTBRAIN AND TABOOLAvice.com NEARLY joined forcesCo-presidents as a Smith single Vice York, Media Shane New NYInc. 10007 having announced an agreement Co-founder, to merge executive in 49 S. Secondcompany, St. chairman Outbrain and Compass Robert Reffkin Brooklyn, NY 11211 Nancy Dubuc October 2019. The deal212-913-9058 would have brought together two Taboola 90 Fifth Ave. longtime rivals that center compass.com Co-founder, chief executive Chief executive their businesses around artiNew York, NY 10011 Ori Allon CEO cle and ad promotion for media outlets. Taboola Empire Office Inc. 212-607-5500 Peter Gaslowexecutive chairman Co-founder, Adam Singolda would lead the combined entity, which 105 Madison Ave. empireoffice.com President, chief executive had a lofty goal of challenging Google and Facebook ICC Inc. 212-521-1700 John Farber for NewIndustries York, NY 10016 460 Park Ave.market share in the advertising iccchem.comspace.

Founder, chairman After reviewing financials during the ensuing months, Trump Organization 212-832-2000 Donald Trump Jr., Eric Trump New York, NY 10022 Blaise Sarcone 725 Fifth Ave.both companies wanted trump.com Executive vice President, chiefpresidents financial officer to renegotiate the deal on new New York, NY terms.

10022 The pandemic threw a wrench into the process, & Paper Co. to a TechCrunch 201-437-7440 Tillis report, becauseRobert the evapoSINGOLDA Imperial Bag according 201-935-8111 John Mara New U.S. York1Giants 255 &9 imperialdade.com Chief executive ration of ad-based revenue dealt blows to both Taboola giants.com President, 1925 Giants Jersey City, NJDrive 07306 Jason Tillis chief executive and Outbrain.

Financiers became the compaSteve Tisch East Rutherford, NJ 07073 less willing to provide cash, and President nies struggled to agree on a modified transaction. By September, Chairman, the merger executive vice president was officiallyKey called — G.S. Food off.

Stores Co-Operative Inc. 848-202-3100 Dean Janeway 8 800-369-7391 Michael Rosenberg Promotion in Motion 100 Matawan Road Cos. keyfood.com Chief executive promotioninmotion.com President, chief executive 25 Commerce Drive 6 | November 2, 2020 Matawan, 07747 18 | CRAIN’S NEW YORKNJBUSINESS Allendale, NJ 07401 Prestige Employee Administrators 516-692-8505 Andrew Lubash 800-445-1603 Eileen Fisher Eileen Fisher Inc. Inc. prestigepeo.com Principal eileenfisher.com Founder, chief executive 2 Bridge St. 538 Broadhollow Road Eric Foodim Irvington,NYNY11747 10533 Melville, Chief operating officer

#33

388 Electrical and industrial n/d Global building materials distribution 12,000 Military vehicles, automotive interiors, pallet racks, magnesium and refined metals 5,341 Global language and translation n/d Provider services of shared workspaces, technology and services

$669.4 $736.3 1,264 Manufacturing and sales of dry +6.3% +10.0% and bakery goods $2,500.0 n/d 11,000 Food, agribusiness and n/d commodities $650.0 n/d n/d Online grocery delivery n/d $2,267.2 n/d n/d Commodity trading, distribution -29.1% and transportation $637.1 $650.0 1,106 Electrical contracting +6.9% +2.0% $2,000.0 n/d 9,000 Newspapers and magazines -9.1% FOUR15FIRMS on the list had estimated triple-digit percentage growth in revenue $600.0 n/d n/d Digital media and broadcasting last year. Noom led the charge by more than tripling its 2018 revenue.

-4.0% 5 $2,000.0 n/d n/d Technology-driven real estate NOOM +100.0% platform

Big and fast

+228.7%

TRIPLELIFT $590.0 +10.3% $1,850.0 COMPASS -2.6% $590.0 16 -6.3% AWAY

$465.0 -21.2% $1,850.0 0.0% n/d

$1,737.9 14 $547.0 +17.9% WEWORK +5.4%

$1,850.0 n/d +6.5%

0% $1,596.0 $525.0 +11.0% +10.5% $1,557.6 $505.8 4 +25.2% +15.0%

500 Contract furniture

+116.8% +100.0% +100.0%

2,065 Chemicals, pharmaceuticals, plastics, paint and resins n/d manufacturing Real estate development, and tradinghotels, casinos, golf courses and entertainment 3,000 Wholesale food service, n/d packaging Professional football team and janitorial supplies

+92.1% +50%

+100%

$1,661.0 n/d +4.1% n/d n/d

+150% +200% +250% Crain’s research 155 Supermarket Source: cooperative 800 Manufacturing and marketing of fruit snacks, confections and chocolate n/d Professional employer organization 1,200 Women’s clothing design, wholesale and retail

Challenges

=

Opportunities Anchin is the premier accounting and advisory firm providing expert solutions to privately-held businesses, investment funds and high net worth families.

We provide a wide range of assurance, tax and advisory services that address your challenges, including: • Pre- and post-Election tax planning • Pandemic-related business recovery and transformation services • Financial Reporting, Tax and Advisory Services to meet your specific needs Our experienced specialists help you make optimal business decisions, and turn challenges into opportunities.

To learn more about our service offerings, visit anchin.com or contact us at info@anchin.com

Follow us:

CN019934.indd 1

10/28/20 1:15 PM

43 44 THE LIST 45 LARGEST PRIVATELY HELD COMPANIES 46 47 48 1 49 250 351 451 53 5 554 755 856 956 58 10 59 11 60 12 61 13 62 14 63 15 64 16 65 16 66 18 67 19 68 20 69 21 70 RANK

277 Park Ave. New York, NY 10172

russellreynolds.com

Managing director, area manager

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

201-227-0400 alliance.com

Jonathan Lefcourt President

$716.7 -0.7%

n/d

n/d Logistics and transportation

New York Yankees 1 E. 161st St. Bronx, NY 10451

646-977-8400 yankees.com

Hal Steinbrenner Managing general partner, co-chairman Randy Levine President

$683.0 14 +2.2%

n/d

n/d Professional baseball team

Krasdale Foods Inc. 65 W. Red Oak Lane White Plains, NY 10604

914-694-6400 krasdalefoods.com

Charles Krasne President, chief executive

$673.3 +0.1%

n/d

504 Wholesale food distribution

212-753-6900

Donald Tober Owner, chairman

$669.4 2019 REVENUE +6.3% (IN MILLIONS)/ % CHANGE VS. 2018

$736.3 2020 PROJECTED REVENUE +10.0% (IN MILLIONS)/ % CHANGE VS. 2019

David McInerney Steven Swartz Co-founder,chief chiefexecutive executive President, William Hearst III Chairman Anthony Mann Jr. Frank Bennack President,vice chiefchairman executive Executive

$650.0 $11,400.0 n/d 0.0%

n/d n/d

$637.1 +6.9%

$650.0 +2.0%

Michael Bloomberg Shane Smith Founder, president, chief executive Co-founder, executive chairman Nancy Dubuc Chief executive Bill Koenigsberg Founder, president, chief executive Peter Gaslow Eileen Benwitt, President, chief executive Vincent O'Toole Executive vice presidents

$10,000.0 15 $600.0 0.0% -4.0% $9,300.0 +6.9% $590.0 +10.3%

$8,600.0 -7.5% $465.0 -21.2%

2,400 Media services

Donald Trump Michael Neary Jr., Eric Trump Executive vice presidents President, Structure Tone Eric McGovern President and chief executive, John Mara Pavarini McGovern President, chief executive Steve Tisch Andrew Wallach Chairman,chief executive vice president President, executive

$590.0 16 $7,888.0 -6.3% +60.8%

n/d $8,000.0 +1.4%

n/d Construction Real estate development, 3,320 management hotels, and casinos,contracting golf courses and general entertainment

$547.0 14 +5.4%

n/d

$6,500.0 +4.8%

$6,100.0 -6.2%

Michael Rosenberg President, chief executive John Catsimatidis Chairman, president, chief executive Eileen Fisher Founder, chief executive David Millstone,

$525.0 +10.5% $6,500.0 -7.1%

$6,000.0 -7.7%

Sugar Foods Corp.

950 Third Ave. COMPANY New York, NY 10022

sugarfoods.com PHONE/ WEBSITE

FreshDirect Hearst 2 St.W. Ann's 300 57thAve. St. Bronx, NY NY 10454 New York, 10019

866-283-7374 212-649-2000 freshdirect.com hearst.com

E-J Electric Installation Co. 46-41 Vernon Blvd.

Long Island City, NY 11101 Bloomberg LP 2 Vice Lexington Media Inc. 731 Ave. 49 S.York, Second St. New NY 10022 Brooklyn, NY 11211 Horizon Media Inc. 75 Varick St. Empire Inc. New York,Office NY 10013 105 Madison Ave. New York, NY 10016

718-786-9400 ej1899.com

212-318-2000 vice.com bloomberg.com

212-220-5000 horizonmedia.com 212-607-5500 empireoffice.com

Trump Organization Structure Tone/Pavarini McGovern 725 W. Fifth Ave.St. 330 34th New York, York, NY NY 10001 10022 New

212-832-2000 212-481-6100 trump.com structuretone.com

New York Giants 1925 Giants Drive East Rutherford, 07073 Inc. Central NationalNJ Gottesman

201-935-8111 giants.com

914-696-9000 cng-inc.com

3 Manhattanville Road Purchase, NY 10577 Promotion in Motion Cos. 8 25 Commerce Drive Red Apple Group Inc. Allendale, NJ 07401 800 Third Ave.

800-369-7391 promotioninmotion.com 212-956-5803 ragny.com

New York, NY 10022 Eileen Fisher Inc. 2 Bridge St. Standard Industries 9Irvington, W. 57th NY St. 10533

800-445-1603 eileenfisher.com 212-821-1600 standardindustries.com

New York, NY 10019 Alcott HR Group 71 Executive Renco Group Blvd.

Inc. 2 NY 11735 1Farmingdale, Rockefeller Plaza

631-420-0100 alcotthr.com 212-541-6000 rencogroup.net

New York, NY 10020

TOP EXECUTIVE(S)

David Winter Co-chief executives Lou Basso Chairman Ira Rennert Steven Politis Founder, chairman, chief executive President, chief operating officer

+8.7%

$505.8 4 +15.0% $6,100.0 0.0% $500.0 +11.1% $4,800.0 -4.0%

n/d n/d

n/d

n/d n/d $550.0 +10.0% n/d

1,264 Manufacturing and sales of dry 2020 TOTAL COMPANY and bakery goods EMPLOYEES 1 NATURE OF BUSINESS

n/d Global Online diversified grocery delivery 24,000 media, information and services 1,106 Electrical contracting 20,000 Global business, financial n/d information Digital media and broadcasting and news

500 Contract furniture

n/d Professional football team 2,900 Pulp, paper, packaging material and forest product sales and distribution 800 Manufacturing and marketing of fruit snacks, and 8,200 Retail, energyconfections and real estate chocolate 1,200 Women’s clothing design, wholesale and retail n/d Global building materials n/d Human resources outsourcing 12,000 Military vehicles, automotive interiors, pallet racks, magnesium and refined metals

Squarespace WeWork 225 W. Varick 115 18thSt.St. New York, York, NY NY 10011 10014 New

squarespace.com 646-389-3922 wework.com

Anthony Casalena Sandeep Mathrani Founder, chief executive Chief executive

$500.0 317 $3,500.0 +28.2% +92.1%

Nebraskaland Inc. Infor 355 Sixth Food Ave. Center Drive 641 Bronx, NY 10474 New York, NY 10011

718-842-0700 646-336-1700 nebraskaland.com infor.com

$486.0 $3,200.0 +4.3% +1.7%

$538.0 n/d +10.7%

Synechron Inc. 11 Times Square New York, B&H Foto NY and10036 Electronics Corp.

212-619-5200 synechron.com

Richard Romanoff Kevin Samuelson President, chief executive Chief executive Rod Johnson Global president, chief revenue Faisal Husain officer Co-founder, chief executive

$485.0 +21.3%

$550.0 +13.4%

212-444-6615 bhphotovideo.com 201-818-4669 dohertyinc.com

Herman Schreiber Owner Edward Doherty Chairman, chief executive

$2,940.0 4 -2.0% $480.0 -1.0%

$300.0 -37.5%

retailer 3,000 Restaurant ownership and operation

corporate.univision.com

Vince Sandusky Chief executive James Armstrong Vice president, Eastern region

$2,700.0 -10.0% 18 $448.5 +10.2%

n/d

1,000 Hispanic-American media

Alfred Teo Chairman, chief executive Tod Johnson Mark Teo Executive chairman President, chief operating officer Karyn Schoenbart ChiefFribourg executive Paul

$2,600.0 -11.9% $444.0 +7.6%

n/d

420 Ninth Ave. Doherty Enterprises New York, NY 10001 7 Pearl Court Allendale,Communications NJ 07401 Univision Inc. 2 605 Third Ave. Okonite Co. New York, NY 10158 102 Hilltop Road Ramsey, NJ 07446 Sigma Plastics Group 2

Page and Schuyler avenues NPD Group Inc. Lyndhurst, NJ 07071 900 W. Shore Road Port Washington, NY 11050 Continental Grain Co. 2 767 Fifth Ave. LRC Construction New York, NY 10153 7 Renaissance Square White Plains, Trammo Inc. NY 10601

667 Madison Ave. New York, NY 10065 LiRo Group 3 Aerial Way Advance Publications Inc. 2 NY 11791 1Syosset, World Trade Center

201-825-0300 okonite.com

201-933-6000 sigmaplasticsgroup.com 516-625-0700 npd.com

212-207-5100 continentalgrain.com 914-773-7700 lrcbuild.com 212-223-3200 trammo.com

516-938-5476 liro.com advance.com

New York, NY 10007 Bookazine Compass 75 Fifth HookAve. Road 90 Bayonne, New York, NJ NY 07002 10011

201-339-7777 212-913-9058 bookazine.com compass.com

Curtis Instruments Inc. 200Industries Kisco Ave. Inc. ICC Mount Kisco, 460 Park Ave.NY 10549

914-666-2971 curtisinstruments.com 212-521-1700

New York, NY 10022 Omnibuild 213 W. 35th St. New York,Bag NY 10001 Imperial & Paper Co. 255 U.S. 1 & 9 Zeta Global Jersey City, NJ 07306 3 Park Ave. New York, NY 10016

iccchem.com

212-419-1930 omnibuild.com

201-437-7440 imperialdade.com 212-967-5055 zetaglobal.com

Key Food Stores Co-Operative Inc. 848-202-3100 100 Matawan Road keyfood.com Matawan, NJ 07747 6 718-372-9800 Bayside Fuel Oil Corp. baysidedepot.com 1776 Shore ParkwayAdministrators Prestige Employee 516-692-8505 20 | CRAIN’S NEW YORK BUSINESS | November 2, 2020 Brooklyn, NY 11214 Inc. prestigepeo.com 538 Broadhollow Road 20 Sam Ash Music Corp.

Melville, NY 11747 278 Duffy Ave. Hicksville, 11801 Goya FoodsNYInc. 350 County Road

Chairman, chief executive Louis Cappelli Chairman, chief executive Peter Palazzo Edward Weiner President chief executive President,

$2,500.0 n/d $430.0 +9.4% $2,267.2 -29.1%

Rocco Trotta Chairman Donald Newhouse, Luis Tormenta Steven Newhouse President, chief executive Co-presidents

$428.2 4 +6.4% $2,000.0

Robert Reffkin Kallman Robert Chief executive Co-founder, chief executive Ori Allon Co-founder, executive chairman Stuart Marwell President, John Farberchief executive

$412.5 519 $2,000.0 -10.0% +100.0% $408.6 18 -0.2% $1,850.0

Founder, chairman Blaise Sarcone Peter Serpico President, chief financial officer Chief executive

$401.5 -12.5%

Robert Tillis Chief executive David Steinberg Jason Tillis Co-founder, chairman, chief President executive SteveJaneway Gerber Dean President, chief operating officer Chief executive

n/d n/d

n/d

n/d

$447.0 +0.7% n/d $450.0 +4.7%

1,250 All-in-oneofplatform for websites, n/d Provider shared workspaces, domains, online stores and technology and services marketing tools 260 Enterprise Wholesalesoftware meat distribution 17,380

n/d Technology consulting services provider for the financial services industry n/d Photo and video equipment

n/d Wire and cable manufacturing 4,500 Flexible packaging 1,690 Marketing research and information services 11,000 Food, agribusiness and commodities 230 Construction management and general contracting

n/d

n/d Commodity trading, distribution and transportation

n/d

n/d Construction management, multidisciplinary engineering and 9,000 Newspapers and magazines architecture

n/d

-9.1% n/d n/d

180 Wholesale books real estate n/d Technology-driven platform

n/d

n/d

n/d Instrumentation and controls for electric vehicles 2,065 Chemicals, pharmaceuticals, plastics, paint and resins manufacturing and trading n/d Construction management

$1,737.9 +17.9% 15 $400.0 0.0%

$1,850.0 +6.5% n/d

3,000 Wholesale food service, packaging and janitorial supplies n/d Data-driven marketing platform

$1,596.0 +11.0%

$1,661.0 +4.1%

-2.6%

$1,850.0 0.0%

$395.6 18 +5.4% $1,557.6 +25.2%

800-472-6274 samash.com

Vincent Allegretti Co-owner Andrew Lubash Principal Eric Foodim Richard Ash Chief operating officer Chief executive

$385.0 0.0%

n/d

201-348-4900 goya.com

Robert Unanue President

$1,500.0 0.0%

$1,500.0 0.0%

155 Supermarket cooperative

n/d

n/d Heating oil distribution

n/d

n/d Professional employer organization 1,102 Retail of musical instruments 4,500 Food manufacturing, packaging and distribution

6 6 6 6 6 61 7 72 73 74 75 75 7 78 79 71 81 18 81 81 18 1 81 8 81 81 82 82

RAN

s,

l

f

um

,

es

nd

or

es

ion

64 65 66 67 68 69 1 70 2 71 3 72 73 4 73 5 75 5 7 76 8 76 9 76 10 76 11 80 12 81 13 82 14 83 15 84 16 85 16 86 18 87 19 87 87 20 87 21 RANK

3 Aerial Way Syosset, NY 11791

liro.com

Chairman Luis Tormenta President, chief executive

Bookazine 75 Hook Road Bayonne, NJ 07002

201-339-7777 bookazine.com

Robert Kallman Chief executive

$412.5 19 -10.0%

n/d

180 Wholesale books

Curtis Instruments Inc. 200 Kisco Ave. Mount Kisco, NY 10549

914-666-2971 curtisinstruments.com

Stuart Marwell President, chief executive

$408.6 18 -0.2%

n/d

n/d Instrumentation and controls for electric vehicles

Omnibuild 213 W. 35th St. New York, NY 10001

212-419-1930 omnibuild.com

Peter Serpico Chief executive

$401.5 -12.5%

n/d

n/d Construction management

Zeta Global 3 Park Ave. New York, NY 10016

212-967-5055 zetaglobal.com

David Steinberg Co-founder, chairman, chief executive Steve Gerber TOP EXECUTIVE(S) President, chief operating officer

$400.0 15 0.0%

n/d

n/d Data-driven marketing platform

COMPANY

PHONE/ WEBSITE

+6.4%

2019 REVENUE (IN MILLIONS)/ % CHANGE VS. 2018

multidisciplinary engineering and architecture

2020 PROJECTED REVENUE (IN MILLIONS)/ % CHANGE VS. 2019

2020 TOTAL COMPANY EMPLOYEES 1 NATURE OF BUSINESS

$395.6 18 $11,400.0 +5.4% 0.0%

n/d

800-472-6274 samash.com

Vincent Allegretti Steven Swartz Co-owner President, chief executive William Hearst III Chairman Richard Ash Jr. Frank Bennack Chief executive Executive vice chairman

$385.0 0.0%

n/d

212-318-2000 631-249-1872 bloomberg.com posillicoinc.com

Michael Bloomberg Joseph Founder,Posillico president, chief executive President, chief executive

$10,000.0 $374.0 0.0% +6.9%

n/d $488.0 +30.5%

212-220-5000 718-507-8499 horizonmedia.com mets.com

Bill Koenigsberg Fred Wilpon Founder, president, chief executive Chairman, chief executive Eileen Benwitt, Saul KatzO'Toole Vincent President Executive vice presidents

$9,300.0 14 $362.0 +6.9% +6.5%

$8,600.0 n/d -7.5%

2,400 Media services n/d Professional baseball team

Taub FamilyTone/Pavarini Cos. 21 Structure McGovern 48 Harbor Park 330 W. 34th St.Drive Port NY 11050 New Washington, York, NY 10001

516-802-4700 212-481-6100 palmbay.com structuretone.com taubfamilyselections.com saracina.com

$360.0 $7,888.0 +1.4% +60.8%

n/d $8,000.0 +1.4%

280 Wines and spirits importingand and 3,320 Construction management distribution general contracting

UiPath 90 Park National Ave. Central Gottesman Inc. New York, NY 10016 3 Manhattanville Road Purchase, NY 10577 Hudson Meridian Construction Group Red Apple Group Inc. 61 800Broadway Third Ave. New New York, York, NY NY 10006 10022

uipath.com 914-696-9000 cng-inc.com

Marc Taub Michael Neary President, executive President, chief Structure Tone Eric McGovern President and chief executive, Pavarini McGovern Daniel Dines Co-founder, chief executive Andrew Wallach President, chief executive

$360.0 22 n/d $6,500.0 +4.8%

n/d $6,100.0 -6.2%

212-608-6600 hudsonmeridian.com 212-956-5803 ragny.com

William Cote Founder, chief executive John Catsimatidis Chairman, president, chief executive

$354.7 -1.0% $6,500.0 -7.1%

n/d $6,000.0 -7.7%

n/d Vendor of robotic process 2,900 automation Pulp, paper,services packaging material and forest product sales and distribution n/d Construction management 8,200 Retail, energy and real estate

American Musical Supply 20 Standard Industries 89 Thornton Road W. 57th St. Oakland, New York,NJ NY07436 10019

800-458-4076 212-821-1600 americanmusical.com standardindustries.com

$350.0 $6,100.0 +14.4% 0.0%

n/d n/d

480 musicalmaterials instruments n/d Retail Globalofbuilding

Renco Group Inc. 2 Briad Group Plaza 1 Rockefeller 78 NewOkner York, Parkway NY 10020 Livingston, NJ 07039 WeWork Knotel 115 W. 18th St. 228 South New Park York, Ave. NY 10011 New York, NY 10003 Infor 641 Sixth Ave. Vista FoodNY Exchange New York, 10011 Inc. 355 Food Center Drive Bronx, NY 10474

212-541-6000 973-597-6433 rencogroup.net briad.com

Kenneth Hovey David Millstone, Chief Davidexecutive Winter James Hovey Co-chief executives President Ira Rennert Rick Barbrick, Founder, chairman, chief executive Brad Honigfeld Co-chief executives Sandeep Mathrani Edward Shenderovich Chief executive Chairman Amol Sarva Co-founder, chief executive Kevin Samuelson Chief executive Vincent Pacifico Rod Johnson Founder, chairman, chief executive Global president, chief revenue officer

$4,800.0 $350.0 -4.0% 0.0%

n/d n/d

12,000 Military vehicles, automotive 8,000 Restaurantandracks, hotel-chain interiors, pallet magnesium management and refined metals

$3,500.0 3 $350.0 +92.1% +40.0%

n/d n/d

n/d Provider of shared workspaces, n/d Flexible workspace platform technology and services

$3,200.0 +1.7% $350.0 +4.5%

n/d

Kenneth Colao Herman Schreiber Founding Owner principal, president Steven Colao Founding principal, chief operating officer Vince Sandusky Chief executive Jonah Peretti Co-founder, chief executive Alfred Teo Chairman, chief executive Lance Franklin, Mark Teo Frank Reichchief operating officer President, Co-chief executives Paul Fribourg Thomas Iovino Chairman, chief executive Founder, chairman

4 $325.0 12 $2,940.0 +1.1% -2.0%

n/d n/d

$2,700.0 -10.0% $320.0 23 +6.7% $2,600.0 -11.9% $315.5 +11.8%

n/d

$400.0 +26.8%

$2,500.0 $309.5 n/d -9.6%

n/d $400.0 +29.2%

Bayside Hearst Fuel Oil Corp.

1776 300 W.Shore 57thParkway St. Brooklyn, New York, NY NY 11214 10019

718-372-9800 212-649-2000 baysidedepot.com hearst.com

Sam Ash Music Corp. 20 278 Duffy Ave. Hicksville, NY 11801 Bloomberg LP 2 Posillico Inc. Ave. 731 Lexington 1750 NewNY Highway New York, 10022 Farmingdale, NY 11735 Horizon Media Inc. New York Mets 75 Varick St. 41 Way10013 NewSeaver York, NY Queens, NY 11368

646-389-3922 646-979-0898 wework.com knotel.com 646-336-1700 infor.com 718-542-4401 vistafood.com

CNY B&HGroup Foto and Electronics Corp.

1440 Broadway 420 Ninth Ave. New New York, York, NY NY 10018 10001

212-302-9060 212-444-6615 cnygroup.com bhphotovideo.com

Univision Communications Inc. 2 605 Third Ave. BuzzFeed New York, NY 10158 111 E. 18th St. New York, NY 10003 Sigma Plastics Group 2 Page and Schuyler avenues Triton Construction Lyndhurst, NJ 07071Co. 30 E. 33rd St. New York, NY 10016 Continental Grain Co. 2 Iovino Enterprises 767 Fifth Ave. 1New Rockefeller Plaza York, NY 10153 New York, NY 10020 Trammo Inc. Atrium 667 Madison Ave. 387 South New Park York, Ave. NY 10065 New York, NY 10016 Advance Publications Inc. 2 1 World Trade Center New York, NY 10007 Brooklyn Nets 168 39th St. Compass Brooklyn, NY 11232 90 Fifth Ave. New York, NY 10011 GPI Greenman-Pedersen Inc. 325 W. Main St. Babylon, NY 11702 ICC Industries Inc. 460 Park Ave. Away New York, NY 10022 82 Mercer St. New York, NY 10012 Imperial Bag & Paper Co. Diligent 255 U.S.Corp.

1&9 111 33rdNJSt.07306 JerseyW.City, New York, NY 10120

corporate.univision.com

Sprinklr Key Food Stores Co-Operative Inc. 29 35th St.Road 100W.Matawan New York, NY Matawan, NJ 10001 07747 6

646-379-1975 buzzfeed.com 201-933-6000 sigmaplasticsgroup.com 212-388-5700 tritonconstruction.net 212-207-5100 718-571-9599 continentalgrain.com iovinoent.com 212-223-3200 212-292-0550 trammo.com atriumstaff.com

Edward Weiner Rebecca President,Cenni-Leventhal chief executive Founder, chief executive Bernard Caputo, Linda Gesell, Adam DonaldSamples Newhouse, Presidents Steven Newhouse Co-presidents Joseph Tsai Governor Robert Reffkin Co-founder, chief executive Ori Allon Denise Carterexecutive chairman Co-founder, Executive vice president, metroarea John branch Farber manager Founder, chairman Stuart Haselden Blaise Sarcone Chief executive President, chief financial officer

advance.com 718-933-3000 brooklynnets.com 212-913-9058 compass.com 631-587-5060 gpinet.com 212-521-1700 iccchem.com 888-428-2118 awaytravel.com 201-437-7440 diligent.com imperialdade.com

917-933-7800 848-202-3100 sprinklr.com keyfood.com WANT MORE

OF

Ragy Dean Thomas Janeway Founder, chief executive Chief executive CRAIN’S EXCLUSIVE

DATA? VISIT

n/d n/d

1,102 Retail of musical instruments 20,000 Global business, financial 700 Civil construction information and news

17,380 Enterprise software 76 Wholesale meat distribution, exporting and processing n/d andequipment development n/d Construction Photo and video services retailer 1,000 Hispanic-American media n/d Online news and entertainment 4,500 Flexible packaging 120 Construction management, general contracting and consulting 11,000 Food, agribusiness and 258 General contracting and specialty commodities construction services

$2,267.2 4 $309.5 -29.1% +5.6%

n/d n/d

$2,000.0 -9.1%

n/d

$304.0 14 +4.8% 5 $2,000.0 +100.0%

n/d n/d

n/d Professional basketball team n/d Technology-driven real estate platform

$300.8 +8.3% $1,850.0 -2.6% $300.0 24 +100.0%

n/d

n/d Engineering, planning and construction management and 2,065 inspection Chemicals,services pharmaceuticals, plastics, paint and resins n/d Luggage design,and manufacturing manufacturing trading and retail

$1,737.9 10 $300.0 +17.9% +19.6%

Robert Tillis Brian Chief Stafford executive President, Jason Tillischief executive President

$360.0 +2.9%

n/d Heating oil distribution 24,000 Global diversified media, information and services

$1,850.0 0.0% n/d $1,850.0 n/d +6.5%

$300.0 25 $400.0 10 $1,596.0 $1,661.0 n/d +33.3% +11.0% +4.1% CRAINSNEWYORK.COM/LISTS.

TripleLift Prestige Employee Administrators 400 Inc. Lafayette St. New NY 10003 538 York, Broadhollow Road Melville, NY 11747

triplelift.com 516-692-8505 prestigepeo.com

Eric Berry Andrew Lubash Co-founder, Principal chief executive Shaun Zacharia Eric Foodim Co-founder, president Chief operating officer

$300.0 $1,557.6 +116.8% +25.2%

26 Navillus Goya Foods Inc. 633 Ave. 350 Third County Road

212-750-1808 201-348-4900 navillusinc.com goya.com

Colin RobertMathers Unanue President, President chief executive

$298.0 $1,500.0 -0.7% 0.0%

n/d Commodity trading, distribution n/d Workforce management and talent and transportation acquisition solutions 9,000 Newspapers and magazines

3,000 Wholesale food service, n/d Governance software packaging and janitorial supplies

1,900 customer experience 155 Digital Supermarket cooperative platform

n/d Programmatic advertising n/d November 2, 2020n/d n/d Professional employer organization | CRAIN’S NEW YORK BUSINESS | 21

$190.0 $1,500.0 -36.2% 0.0%

n/d Concrete superstructure, masonry, 4,500 Food manufacturing, packaging tile, and general and carpentry distribution

New York, NY 10020 212-292-0550 atriumstaff.com

Rebecca Cenni-Leventhal Founder, chief executive Bernard Caputo, Linda Gesell, Adam Samples Presidents

$309.5 4 +5.6%

n/d

n/d Workforce management and talent acquisition solutions

Brooklyn Nets 168 39th St. Brooklyn, NY 11232

718-933-3000 brooklynnets.com

Joseph Tsai Governor

$304.0 14 +4.8%

n/d

n/d Professional basketball team

GPI Greenman-Pedersen Inc. 325 W. Main St. Babylon, NY 11702

631-587-5060 gpinet.com

Denise Carter Executive vice president, metroarea branch manager

$300.8 +8.3%

n/d

n/d Engineering, planning and construction management and inspection services

Away 82 Mercer St. New York, NY 10012

888-428-2118 awaytravel.com

Stuart Haselden Chief executive

$300.0 24 +100.0%

n/d -100.0%

n/d Luggage design, manufacturing and retail

diligent.com

Brian Stafford President, chief executive

10

n/d 2020 PROJECTED REVENUE (IN MILLIONS)/ % CHANGE VS. 2019

84 THE 85 LIST LARGEST PRIVATELY HELD COMPANIES 86 87 87 187 87 2 91 392 493 594 595 796 897 9 98 10 99 11 100 12 100 13 100 14 103 15 her bags Packing 104 16 105 #87 16 106 18 107 19 108 109 20 110 21 RANK

GETTY IMAGES

Atrium 387 Park Ave. South New York, NY 10016

Diligent Corp.

111 W. 33rd St. COMPANY New York, NY 10120

PHONE/ WEBSITE

Hearst Sprinklr 300 57thSt. St. 29 W.W.35th New New York, York, NY NY 10019 10001

212-649-2000 917-933-7800 hearst.com sprinklr.com

TripleLift 400 Lafayette St. New York, NY 10003 Bloomberg LP 2 731 Lexington Ave. Navillus New York,26NY 10022 633 Third Ave. Horizon Inc. New York,Media NY 10017 75 Varick St. BarrYork, & Barr New NY Inc. 10013 462 Seventh Ave. New York, NY 10018

triplelift.com

212-318-2000 bloomberg.com 212-750-1808 navillusinc.com 212-220-5000 horizonmedia.com 212-563-2330 barrandbarr.com

SchimentiTone/Pavarini Construction McGovern Co. Structure 575 W. Lexington 330 34th St.Ave. New York, York, NY NY 10001 10022 New

212-246-9100 212-481-6100 schimenti.com structuretone.com

Adams & Co. Real Estate 411 FifthNational Ave. Gottesman Inc. Central York, NY 10016 3New Manhattanville Road Purchase, NY 10577 Thornton Tomasetti Inc. 51 Madison Ave. Inc. Red Apple Group New Third York, Ave. NY 10010 800 New York, NY 10022

212-679-5500 adamsre.com 914-696-9000 cng-inc.com

TOP EXECUTIVE(S)

Steven Swartz Ragy Thomas President, chiefexecutive executive Founder, chief William Hearst III Chairman Eric Berry Frank Bennack Jr. Co-founder, executive Executive vicechief chairman Shaun Zacharia Michael Bloomberg Co-founder, president Founder, president, chief executive Colin Mathers President, chief executive Bill Koenigsberg Founder, president, chief executive Keith Stanisce Eileen Benwitt, President, chief executive Vincent O'Toole Executive vice presidents MatthewNeary Schimenti Michael President Structure Tone President, Joseph Rotondo Eric McGovern Vice president President and chief executive, Pavarini McGovern James Buslik, David Levy Principals Andrew Wallach President, chief executive

917-661-7800 thorntontomasetti.com 212-956-5803 ragny.com

Thomas Scarangello Executive chairman John Catsimatidis Peter DiMaggio, Chairman, president, chief Michael Squarzini executive Co-chief executives 212-821-1600 David Millstone, 212-471-4300 StevenWinter Kaufman standardindustries.com David kaufmanorganization.com Co-chief Presidentexecutives

Standard Industries 9Kaufman W. 57th Organization St. 450 York, Seventh Ave. New NY 10019 New York, NY 10123 Renco Group Inc. 2 212-541-6000 Ira Rennert 212-353-7200 Andrew Adelhardt Eastman 1Perkins Rockefeller Plaza rencogroup.net Founder, chairman,III,chief executive perkinseastman.com Shawn Basler, 115 York, Fifth Ave. New NY 10020 Nicholas Leahy New York, NY 10003 WeWork 646-389-3922 Sandeep Mathrani Co-chief executives 115 W. 18th St. wework.com Chief executive 516-285-5500 Richard DeMatteis LeonYork, D. DeMatteis New NY 10011Construction dematteisorg.com Principal Corp.

Infor 646-336-1700 Kevin Scott Samuelson DeMatteis 820 Elmont Road 641 SixthNYAve. infor.com Chief Seniorexecutive executive vice president Elmont, 11003 New York, NY 10011 Rod Johnson 888-872-5766 Anthonypresident, Berritto chief revenue SalSon Logistics Global salson.com President, chief executive 888 Doremus Ave. officer Newark, NJ 07114 B&H Foto and Electronics Corp.

212-444-6615 Herman Schreiber 201-804-6200 John Calicchio ArgoNinth Turboserve 420 Ave. Corp. bhphotovideo.com Owner argoturbo.com Chairman, chief executive 681 York, Fifth Ave. New NY 10001 Jason Kirshner New York, NY 10022 Univision Communications Inc. 2 corporate.univision.com Vince Sandusky President 605 Third Ave. Chief executive DigitalOcean digitalocean.com Yancey Spruill New York, NY 10158 101 Sixth Ave. Chief executive Sigma Plastics Group 2 201-933-6000 Alfred Teo New York, NY 10013 Page and Schuyler avenues sigmaplasticsgroup.com Chairman, chief executive Pharmapacks 855-797-2257 Andrew Lyndhurst, NJ 07071 Mark TeoVagenas 1516 Motor Parkway pharmapacks.com Chief executive President, chief operating officer Islandia, NY 11749 212-207-5100 Paul Fribourg Continental Grain Co. 2 ABCO HVACR 718-937-9000 Michael Senter 767 Fifth Ave. Supply & Solutions 27 continentalgrain.com Chairman, chief executive 49-70 31st abcohvacr.com Chief executive New York, NYSt. 10153 Long Island City, NY 11101 Trammo Inc. 212-223-3200 Edward Weiner 667 Madison Ave. trammo.com President, chief executive AFD York, Contract Furniture Inc. 212-721-7100 Richard Aarons New NY 10065 COMPANY 810 Seventh Ave. afd-inc.com Chairman advance.com Donald Newhouse, Advance New York,Publications NY 10019 Inc. 2 David Aarons SPOTLIGHT 1 World Trade Center Steven Newhouse Chief executive EVEN BEFORE COVID-19 TOOK HOLD, luggage retailer Away had New York, NY 10007 Co-presidents Away Bartlett Dairy Inc.on quite a journey.

718-658-2299 Thomas Steph Malave been In December co-founder Compass 212-913-9058 Robert Reffkin 90-04 161st St. stepped down from bartlettny.com President Korey the CEO post after an investiga90 Fifth Ave. compass.com Co-founder,But chief executive Jamaica, NY 11432 tion

by The Verge revealed a toxic work environment.

New York, NY 10011 Ori Allon as co-CEO in January, telling The New KoreyFoxreturned 212-977-6500 James vonYork Klemperer Kohn Pedersen Associates Co-founder, executive chairman Times to succumb to pressure and rekpf.com President 11 W. 42nd St. that it was a mistake former She shared the position with Stuart Haselden, ICC Inc. 212-521-1700 John Farber NewIndustries York, sign.

NY 10036 COO of sportswear retailer Lululemon Athletica.

460 Park Ave. iccchem.com Founder, chairman Mario Procida Procida New York,Cos. NY Her 10022 Blaise Sarcone time in the driver’s718-299-7000 seat again was short-lived.

In the procidacompanies.com President, chief financial executiveofficer 456 E. 173rd St. chief summer Korey repeatedly used social mediaPresident, to criticize Bronx, NY 10457 news coverage, prompting more complaints from Away Imperial Bag & Paper Co. 201-437-7440 Robert Tillis staff.

By July the company announced that sheChief would step KOREY Solomon 212-403-6100 Scott Page, 255 U.S. 1Page &9 imperialdade.com executive down as co-CEO later in 2020.

260 Madison Ave. solomonpage.com Lloyd Solomon Jersey City, NJ 07306 Jason Tillis All the while tubes.

Once Newthe York,coronavirus NY 10016 has sent Away’s fortunes down the President Managing directors

valued at $1.4 billion, the company reported a sales decrease exceeding 90% in Mindlance 877-965-2623 VikramJaneway Kalra Key Food Co-Operative Dean April, prompting it toStores furlough half its Inc. staff and848-202-3100 lay off an additional 10%.

— G.S. 1095Matawan Morris Ave. 100 Road Union, NJ NJ 07083 Matawan, 07747 6

mindlance.com keyfood.com

Noom Employee Administrators Prestige 229 W. 28th St. Inc. New Broadhollow York, NY 10001 538 Road Melville, NY 11747 Lafayette 148 New York

noom.com 516-692-8505 prestigepeo.com

Co-founder, managing director Chief executive

$300.0 2019 REVENUE (IN MILLIONS)/ +19.6% % CHANGE VS. 2018

$11,400.0 $300.0 25 0.0%—

n/d 10 $400.0 +33.3%

$300.0 +116.8%

n/d

$10,000.0 0.0% $298.0 -0.7% $9,300.0 +6.9% $295.4 -2.5%

n/d $190.0 -36.2% $8,600.0 -7.5% n/d

n/d Governance software 2020 TOTAL COMPANY EMPLOYEES 1 NATURE OF BUSINESS

RAN

24,000 media, 1,900 Global Digital diversified customer experience information platform and services n/d Programmatic advertising 20,000 Global business, financial information and news n/d Concrete superstructure, masonry, tile, carpentry and general 2,400 Media services contracting n/d Construction management

$295.0 $7,888.0 +8.5% +60.8%

$265.0 $8,000.0 -10.2% +1.4%

210 Construction General contracting 3,320 management and general contracting

$294.5 +2.3% $6,500.0 +4.8%

$279.0 -5.3% $6,100.0 -6.2%

$285.0 +6.3% $6,500.0 -7.1%

$275.0 -3.5% $6,000.0 -7.7%

n/d Real estate property management, brokerage consulting 2,900 Pulp, paper,and packaging material and forest product sales and distribution 1,500 Structural, material and system design energy and performance 8,200 Retail, and real estate optimization

$6,100.0 $280.3 0.0% +15.1%

n/d $236.1 -15.7%

$4,800.0 $274.7 -4.0% +4.0%

n/d n/d

12,000 Military vehicles, automotive n/d interiors, Design and architecture pallet racks, magnesium and refined metals

$3,500.0 3 +92.1% $269.0 +10.7% $3,200.0 +1.7%

n/d

n/d

n/d Provider of shared workspaces, technology and services n/d Construction management and general contracting 17,380 Enterprise software

$257.2 4 +5.1%

n/d

n/d Integrated logistics services

$2,940.0 4 $250.0 -2.0% 0.0%

n/d n/d

$2,700.0 -10.0% $250.0 +23.1% $2,600.0 -11.9% $250.0 +21.3%

n/d

n/d Photo and video equipment n/d retailer Original-equipment manufacturer's parts and engineering resources 1,000 Hispanic-American media

n/d

n/d Cloud services provider

$2,500.0 $240.6 n/d 28 +3.7%

n/d n/d

n/d

n/d

n/d Global building materials n/d Commercial and residential property management

4,500 Flexible packaging

n/d

n/d E-distributor of health and beauty items 11,000 Food, agribusiness and n/d commodities Wholesale distribution of refrigeration and air-conditioning equipment, parts and n/d Commodity accessoriestrading, distribution and transportation 195 Work space management

$2,267.2 n/d -29.1% $237.0 n/d -1.3% $2,000.0 n/d 9,000 Newspapers and magazines INVESTMENT IN AWAY escalated during each of the past five years.

-9.1%

Venturing into adventure

$212.5 4 $2,000.0 +3.7% 5 $100M +100.0%

n/d n/d

Money raised n/d Dairy and food service n/d Technology-driven real estate $100M platform

$209.5 +14.3% $1,850.0 -2.6% 13 $207.0 $50M +23.5%

n/d

n/d Architecture

$1,737.9 $203.9 +17.9% +10.4%

$0

$200.9 $1,596.0 -1.4% +11.0%

$1,850.0 0.0% n/d

$2.5M 2015

$1,850.0 $207.0 +6.5% $8.5M +1.5%

2016

$215.0 $1,661.0 +7.0% +4.1%

2,065 Chemicals, pharmaceuticals, plastics, paint and resins $50M management and n/d manufacturing Construction and trading general contracting

$20M3,000 Wholesale food service,

2017

306 packaging Temporary and staffing, retained janitorial supplies executive search and full-time contingency search

2018

2019

3,300 Staffing and consulting 155 Supermarket cooperative Source: Crunchbase

22 | CRAIN’S NEW YORK BUSINESS | November 2, 2020

646-708-7000

Saeju Jeong Andrew Lubash Co-founder, chief executive Principal Eric Foodim Chief operating officer Deirdre Quinn

$200.8 $1,557.6 +228.7% +25.2%

n/d n/d

$200.0

n/d

9 9 1 1 1 11 12 1 3 1 14 15 15 17 18 19 1 11 1 11 11 1 1 11 11 1 1 21 21

n/d Professional Health-coaching platform n/d employer organization

2,000 Women's clothing designer and

ent

98 99 100 100 100 103 1 104 2 105 3 106 107 4 108 5 109 5 110 7 111 8 111 9 111 10 114 11 115 12 116 13 117 14 118 15 119 16 120 16 121 18 122 19 123 20 124 21 125 RANK

nry,

ent, l

um

uty

ng

ised

0M

es

9

base

ion

Leon D. DeMatteis Construction Corp.

820 Elmont Road Elmont, NY 11003

516-285-5500 dematteisorg.com

Richard DeMatteis Principal Scott DeMatteis Senior executive vice president

$269.0 +10.7%

n/d

n/d Construction management and general contracting

SalSon Logistics 888 Doremus Ave. Newark, NJ 07114

888-872-5766 salson.com

Anthony Berritto President, chief executive

$257.2 4 +5.1%

n/d

n/d Integrated logistics services

Argo Turboserve Corp.

681 Fifth Ave. New York, NY 10022

201-804-6200 argoturbo.com

John Calicchio Chairman, chief executive Jason Kirshner President

$250.0 0.0%

n/d

n/d Original-equipment manufacturer's parts and engineering resources

DigitalOcean 101 Sixth Ave. New York, NY 10013

digitalocean.com

Yancey Spruill Chief executive

$250.0 +23.1%

n/d

n/d Cloud services provider

Pharmapacks 1516 Motor Parkway COMPANY NY 11749 Islandia,

855-797-2257 PHONE/ pharmapacks.com

Andrew Vagenas Chief executive

$250.0 2019 REVENUE (IN MILLIONS)/ +21.3% % CHANGE VS. 2018

n/d 2020 PROJECTED REVENUE (IN MILLIONS)/ % CHANGE VS. 2019

HearstHVACR Supply & Solutions 27 ABCO 300 W.31st 57thSt. St. 49-70 New York, 10019 Long IslandNYCity, NY 11101

212-649-2000 718-937-9000 hearst.com abcohvacr.com

$11,400.0 $240.6 28 0.0% +3.7%

n/d

AFD Contract Furniture Inc. 810 Seventh Ave. 2 Bloomberg New York, NYLP10019 731 Lexington Ave. New York, NY 10022 Bartlett Dairy Inc. Horizon161st Media 90-04 St.Inc. 75 Varick NY St.11432 Jamaica, New York, NY 10013 Kohn Pedersen Fox Associates 11 W. 42nd St. New York, NY 10036 Structure Tone/Pavarini McGovern Procida Cos. St. 330 W. 34th 456 173rd St. New E. York, NY 10001 Bronx, NY 10457

212-721-7100 afd-inc.com 212-318-2000 bloomberg.com

Steven Swartz Michael Senter President, chief executive Chief executive William Hearst III Chairman Frank Bennack Jr. Richard ExecutiveAarons vice chairman Chairman Michael Bloomberg David Aarons Founder, president, chief executive Chief executive

$237.0 -1.3% $10,000.0 0.0%

n/d

195 Work space management

n/d

20,000 Global business, financial information and news

Thomas Malave Bill Koenigsberg President Founder, president, chief executive Eileen Benwitt, James Klemperer Vincentvon O'Toole President Executive vice presidents

$212.5 4 $9,300.0 +3.7% +6.9%

$7,888.0 $207.0 13 +60.8% +23.5%

$8,000.0 n/d +1.4%

3,320 Construction management and n/d Construction management and general contracting general contracting

Solomon Page 260 Madison Ave.Gottesman Inc. Central National New York, NY 10016 3 Manhattanville Road Purchase, NY 10577 Mindlance 1095 MorrisGroup Ave. Inc. Red Apple Union, NJ 07083 800 Third Ave. New York, NY 10022 Noom 229 W. 28th St. Standard Industries New 9 W. York, 57th NY St. 10001 New York, NY 10019 Lafayette 148 New York 141 Flushing Renco Group Ave. Inc. 2 Brooklyn, NY 11205 1 Rockefeller Plaza New York, NY 10020 Terminal Construction Corp.

215 State Highway 17 South WeWork Wood-Ridge, 115 W. 18th NJ St. 07075 New York, NY 10011 Thermwell Products Co. 420 InforRoute 17 South Mahwah, 07430 641 SixthNJ Ave. New York, NY 10011 Clare Rose Inc. 100 Rose Executive Blvd.

East Yaphank, NY 11967 B&H Foto and Electronics Corp.

Amerex Group 420 Ninth Ave. 512 New Seventh York, NY Ave. 10001 New York, NY 10018 Univision Communications8 Inc. 2 Vericon Co. 605 ThirdConstruction Ave. 1063 Route East New York, NY22 10158 Mountainside, NJ 07092 Sigma Plastics Group 2 Page 30 and Schuyler avenues CGS Lyndhurst, NJ 07071 200 Vesey St. New York, NY 10281 Continental Grain Co. 2 TickPick 767 Fifth Ave. 225 34th New W. York, NY St. 10153 New York, NY 10122 Trammo Inc. Execu|Search Group 667 Madison Ave. 675 Ave.10065 New Third York, NY New York, NY 10017 Advance Publications Inc. 2 Payoneer 1 World Trade Center 150 30th New W. York, NY St. 10007 New York, NY 10001 Compass 90 Fifth Ave. New JerseyNYDevils New York, 10011 25 Lafayette St. Newark, NJ 07102 ICC Industries Inc. Mitchell 460 Park Martin Ave. Inc. 550 New Seventh York, NY Ave. 10022 New York, NY 10018

212-403-6100 solomonpage.com 914-696-9000 cng-inc.com

Michael Neary Mario Procida President, Structure Tone President, chief executive Eric McGovern President and chief executive, Pavarini McGovern Scott Page, Lloyd Solomon Andrew Wallach Managing President, directors chief executive

$203.9 +10.4% $6,500.0 +4.8%

$207.0 +1.5% $6,100.0 -6.2%

$200.9 -1.4% $6,500.0 -7.1%

$215.0 +7.0% $6,000.0 -7.7%

$200.8 +228.7% $6,100.0 0.0%

n/d n/d

646-708-7000 lafayette148ny.com 212-541-6000 rencogroup.net

Vikram Kalra Co-founder, managing director John Catsimatidis Chairman, president, chief executive Saeju Jeong Co-founder, chief executive David Millstone, David Winter Co-chief executives Deirdre Quinn Co-founder, Ira Rennert chief executive Founder, chairman, chief executive

306 Temporary staffing, retained search and full-time 2,900 executive Pulp, paper, packaging material contingency searchsales and and forest product distribution 3,300 Staffing and consulting 8,200 Retail, energy and real estate

$200.0 +3.1% $4,800.0 -4.0%

n/d n/d

201-939-9150 terminalconstruction.com 646-389-3922 wework.com

Donald Dinallo President, chief executive Sandeep Mathrani Chief executive

$200.0 12 +33.3% $3,500.0 3 +92.1%

n/d n/d

201-684-4400 frostking.com 646-336-1700 infor.com

David Gerstein President, chief executive Kevin Samuelson Chief executive Rod Johnson Sean GlobalRose president, chief revenue President, chief executive officer

$200.0 0.0% $3,200.0 +1.7% $200.0 18 0.0%

n/d

n/d Wholesale beer

$2,940.0 429 $198.2 -2.0% -3.9%

n/d n/d

n/d Photo and video equipment n/d Outerwear retailer manufacturer

$2,700.0 $196.6 -10.0% +19.8%

n/d n/d

1,000 Hispanic-American media 117 Construction management and general contracting

201-933-6000 sigmaplasticsgroup.com 212-408-3800 cgsinc.com

Herman Schreiber Ira Ganger Owner Chairman, president, chief executive Vince Sandusky Charlie DeAngelis Chief executive Owner, chief executive Stephen Mellett Owner, president Alfred Teo Chairman, chief executive Philip Friedman Mark Teo President, President, chief chief executive operating officer

$2,600.0 -11.9% $196.0 +5.4%

n/d

4,500 Flexible packaging

212-207-5100 845-538-4567 continentalgrain.com tickpick.com

Paul Fribourg Brett Goldberg Chairman, chief executive Co-chief executive and co-founder

$2,500.0 $195.4 n/d +65.2%

n/d n/d

212-223-3200 212-922-1001 trammo.com execu-search.com

Edward Weiner Lawrence Dolinko President, chief executive Chief executive

$2,267.2 $190.0 -29.1% +11.8%

n/d $233.0 +22.6%

advance.com 646-658-3695 payoneer.com

Donald Newhouse, Scott Galit Steven Newhouse Chief executive Co-presidents Yuval Tal Founder, president Robert Reffkin Co-founder, chief executive David Blitzer, Ori Allon Joshua Harrisexecutive chairman Co-founder, Co-managing partners John Farber Eugene Founder,Holtzman chairman President Blaise Sarcone President, chief financial officer

$2,000.0 18 $189.4 -9.1% +5.8%

n/d n/d

$2,000.0 5 +100.0% 14 $181.0 n/d

n/d

Vicom Computer Services Imperial Bag & Paper Co. Inc. 400 255 Broadhollow U.S. 1 & 9 Road Farmingdale, 11735 Jersey City, NJNY 07306

631-694-3900 201-437-7440 vicomnet.com imperialdade.com

WEBSITE

TOP EXECUTIVE(S)

718-658-2299 212-220-5000 bartlettny.com horizonmedia.com 212-977-6500 kpf.com 212-481-6100 718-299-7000 structuretone.com procidacompanies.com

877-965-2623 mindlance.com 212-956-5803 ragny.com noom.com 212-821-1600 standardindustries.com

631-475-1840 clarerose.com 212-444-6615 212-609-3000 bhphotovideo.com amerexgroup.com corporate.univision.com 908-873-0022 vericonbuilds.com

212-913-9058 compass.com 973-757-6100 newjerseydevils.com 212-521-1700 212-943-1404 iccchem.com mitchellmartin.com

WANT MORE OF 848-202-3100

Key Food Stores Co-Operative Inc. 100 Matawan Road Bombas Matawan, NJ 07747 6 881 Broadway New York,Employee NY 10003Administrators Prestige Inc. McAllister TowingRoad and Transportation 538 Broadhollow 17 Battery Place Melville, NY 11747 New York, NY 10004

keyfood.com 800-314-0980 bombas.com 516-692-8505 prestigepeo.com 212-269-3200 mcallistertowing.com

Robert Robert Verola Tillis Chief Chief executive executive Victor Jason Verola Tillis President President Victor Verola CRAIN’S EXCLUSIVE Vice president Dean Janeway Chief executive David Heath Co-founder, chief executive Andrew Lubash Principal Brian McAllister Eric Foodim Chairman Chief operating officer B. Buckley McAllister

$209.5 +14.3%

n/d E-distributor of health and beauty 2020 TOTAL COMPANY items EMPLOYEES 1 NATURE OF BUSINESS

24,000 Global diversified media, n/d Wholesale distribution of information and refrigeration and services air-conditioning equipment, parts and accessories

n/d $8,600.0 -7.5%

n/d Dairy and food service 2,400 Media services

n/d

n/d Architecture

n/d Health-coaching platform n/d Global building materials 2,000 Women's clothing designer and 12,000 retailer Military vehicles, automotive interiors, pallet racks, magnesium and refined metals n/d Construction management and general contracting n/d Provider of shared workspaces, technology and services

$200.0 0.0% n/d

900 Hardware and weatherstrip 17,380 products Enterprisemanufacturing software

$196.0 0.0%

8,000 Business applications, enterprise learning and outsourcing services 11,000 Food, agribusiness and 46 Secondary ticket marketplace commodities n/d Commodity trading, distribution 245 and Recruitment, temporary staffing transportation and workforce management solutions 9,000 Newspapers and magazines 1,500 Online money transfer and e-commerce payment services n/d Technology-driven real estate platform n/d Professional hockey team

n/d

$1,850.0 $175.6 -2.6% -5.5%

$1,850.0 $180.0 0.0% +2.5%

2,065 Chemicals, pharmaceuticals, 1,273 plastics, Information technology and health paint and resins care staffing and consulting manufacturing and trading

$173.0 $1,737.9 +0.6% +17.9%

$160.0 $1,850.0 -7.5% +6.5%

112 Multi-cloud infrastructure 3,000 Wholesale food service, provider packaging and janitorial supplies

DATA? VISIT CRAINSNEWYORK.COM/LISTS. $1,596.0 $1,661.0 +11.0% $171.3 +67.6% $1,557.6 +25.2% 4 $160.4 -4.7%

+4.1% n/d

155 Supermarket cooperative 121 Socks and apparel

November 2, 2020 | CRAIN’S NEW YORK BUSINESS | 23

n/d

n/d Professional employer organization

n/d

n/d Marine transportation

117 118 119 LIST THE 120 LARGEST PRIVATELY HELD COMPANIES 121 122 New York, NY 10281

RANK

123 1 124 2 125 3

TickPick 225 W. 34th St. New York, NY 10122

845-538-4567 tickpick.com

Brett Goldberg Co-chief executive and co-founder

$195.4 +65.2%

n/d

Execu|Search Group 675 Third Ave. New York, NY 10017

212-922-1001 execu-search.com

Lawrence Dolinko Chief executive

$190.0 +11.8%

$233.0 +22.6%

Payoneer 150 W. 30th St. New York, NY 10001

646-658-3695 payoneer.com

Scott Galit Chief executive Yuval Tal Founder, president

$189.4 18 +5.8%

n/d

New Jersey Devils 25 Lafayette St. Newark, NJ 07102

973-757-6100 newjerseydevils.com

David Blitzer, Joshua Harris Co-managing partners

$181.0 14 n/d

n/d

Mitchell Martin Inc. 550 Seventh Ave. COMPANY New York, NY 10018

212-943-1404 mitchellmartin.com PHONE/

Eugene Holtzman President

WEBSITE

TOP EXECUTIVE(S)

Vicom Hearst Computer Services Inc. 400 300 Broadhollow W. 57th St. Road Farmingdale, NY 11735 New York, NY 10019

631-694-3900 212-649-2000 vicomnet.com hearst.com

Bombas Bloomberg LP 2 881 731 Broadway Lexington Ave. New York, NY 10003 10022 McAllister Towing Horizon Media Inc.and Transportation 17 Place 75 Battery Varick St. New York, NY 10004 10013

$175.6 2019 REVENUE -5.5% (IN MILLIONS)/ % CHANGE VS. 2018

$180.0 2020 PROJECTED REVENUE +2.5% (IN MILLIONS)/ % CHANGE VS. 2019

Robert Verola Steven Swartz Chief executive President, chief executive Victor WilliamVerola Hearst III President Chairman Victor Verola Jr. Frank Bennack Vice president Executive vice chairman

$173.0 $11,400.0 +0.6% 0.0%

$160.0 n/d -7.5%

800-314-0980 212-318-2000 bombas.com bloomberg.com

David Heath Michael Bloomberg Co-founder, chief executive Founder, president, chief executive

$171.3 $10,000.0 +67.6% 0.0%

n/d

212-269-3200 212-220-5000 mcallistertowing.com horizonmedia.com

Brian McAllister Bill Koenigsberg Chairman Founder, president, chief executive B. Buckley McAllister Eileen Benwitt, President Vincent O'Toole Executive vice presidents

$160.4 4 $9,300.0 -4.7% +6.9%

46 Secondary ticket marketplace

245 Recruitment, temporary staffing and workforce management solutions 1,500 Online money transfer and e-commerce payment services

n/d Professional hockey team

1,273 Information technology and health 2020 TOTAL COMPANY care staffing and consulting EMPLOYEES 1 NATURE OF BUSINESS

112 Multi-cloud infrastructure 24,000 Global diversified media, provider information and services

121 Socks apparel 20,000 Global and business, financial information and news

n/d $8,600.0 -7.5%

n/d Marine transportation 2,400 Media services

Structure Tone/Pavarini 212-481-6100 Michael Neary $7,888.0 $8,000.0 3,320 management

McGovern

Construction

and

330 W. 34th St. Â? structuretone.com President, Structure Tone general contracting

 Â? Â? Â? Â

+60.8% +1.4% Â?

Â?

­

New

York, NY 10001 Eric McGovern

€ ‚ƒ„…

President and chief

executive,  � † ‡ 1-ˆ ‡ ‡

‰ƒ 2-­ 3-Š

4- 5-‹ ‚ƒ„…

6- € Pavarini McGovern Œ ‚ƒ‚ƒ 7- 8-­

‚ƒ‚ƒ  � 9-

10 11-ˆ Ž 12- ‚ƒ„… 13-­ ‡ ‚ƒ‚ƒ 14-­ 15Central National Inc. 914-696-9000 Wallach17-Š $6,500.0 $6,100.0 Pulp,Ž– paper, packaging material ˆ

Gottesman 16-

‘’“” Andrew ‘•ƒ‰

18-­

2,900

Â?

19-­

Road

Ž– �

20-­

 ‚ƒ„… 21- — and forest €

3 Manhattanville cng-inc.com President, chief executive +4.8%  -6.2% product€ sales andˆ Purchase, � ˜

š ‚ƒ„™ 22-ˆ 23-‚ƒ„… ‚ƒ„™

 �   š ‘‰ƒƒ NY 10577 distribution 24-­ 25-Š › 26- €

27-ˆ Š ‹ ­ 28- 29-­

œ œ œ œŽ– œ�

30-Š œ œ œ œž œ œ€ Red Apple Group Inc. 212-956-5803 John Catsimatidis $6,500.0 $6,000.0 8,200 Retail, energy and real estate

4 5 5 7 8 9 10 11 12 13 14 15 16 16 18 19 20 21

800 Third Ave. New York, NY 10022

ragny.com

Chairman, president, chief executive

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

212-821-1600 standardindustries.com

David Millstone, ALPHABETICAL David Winter Co-chief executives

COMPANY RANK COMPANY RANK Renco Group Inc. 2 212-541-6000 Ira Rennert 1 Rockefeller Plaza rencogroup.net Founder, chairman, chief executive Diversified------------------------------------------------------ 35 New York, NYA10020 ABCO HVACR Supply & Solutions------------------------ 103 Doherty Enterprises------------------------------------------- 60 WeWork 646-389-3922 Sandeep Mathrani E Adams & Co. Real Estate------------------------------------ 94 115 W. 18th St. wework.com Chief executive Eileen Fisher Inc. Advance Publications Inc. 16 ---------------------------------------------- 55 New York, ----------------------------------NY 10011 AFD Contract Furniture Inc.-------------------------------- 104 E-J Electric Installation Co.---------------------------------- 49 Infor 646-336-1700 Kevin Samuelson Alcott HR Group----------------------------------------------- 56 Empire Office Inc.--------------------------------------------- 51 641 Sixth Ave. infor.com Chief executive 119 Alliance Shippers Inc.York, 44 Execu|Search Group--------------------------------------New NY 10011 Rod Johnson ---------------------------------------Global F president, chief revenue Allied Beverage Group---------------------------------------- 28 officer Affiliates---------------------- 31 Amerex Group------------------------------------------------ 115 Fedway Associates Inc. and FreshDirect----------------------------------------------------48 American Musical Supply 76212-444-6615 B&H Foto-----------------------------------and Electronics Corp.

Herman Schreiber Ave. Owner G Argo Turboserve 420 Corp.Ninth 100bhphotovideo.com -------------------------------------New York, NY 10001 Atrium----------------------------------------------------------84 Gellert Global Group------------------------------------------ 26 Goya Foods Inc.----------------------------------------------22 Away------------------------------------------------------------87corporate.univision.com Univision Communications Inc. 2 Vince Sandusky 605 Third Ave. executive GPI Greenman-PedersenChief Inc.------------------------------86 B York, NY 10158 H Barr & Barr Inc.-New ----------------------------------------------- 92 Hearst------------------------------------------------------------1 Bartlett Dairy Inc. 105201-933-6000 Sigma Plastics Group 2 Alfred Teo ------------------------------------------Schuyler avenues sigmaplasticsgroup.com Chairman, chief executive Horizon Media Inc. Bayside Fuel OilPage Corp.and 69 ---------------------------------------------- 3 ---------------------------------------Lyndhurst, Corp.

NJ 07071 Mark TeoGroup Hudson Meridian Construction 75 B&H Foto and Electronics 11 -----------------------------------------------President, chief operating officer Bloomberg LP---------------------------------------------------- 2 Hunter Roberts Construction Group----------------------- 30 Paul IFribourg Continental Grain Co. 2 Bombas------------------------------------------------------124212-207-5100 767 Fifth Ave. Chairman, chief executive ICC Industries Inc.--------------------------------------------18 Bookazine------------------------------------------------------65continentalgrain.com New York, NY 10153 Briad Group---------------------------------------------------- 76 Imperial Bag & Paper Co.----------------------------------- 19 Trammo Inc. Edward Weiner Infor-------------------------------------------------------------10 Brooklyn Nets-------------------------------------------------85212-223-3200 667 Madison Ave. President, chief executive Iovino Enterprises--------------------------------------------83 81trammo.com BuzzFeed-------------------------------------------------------New York, NY 10065 J C Donald ---------------------------Newhouse, Publications Inc. 2 JRM Construction Management 38 Central NationalAdvance Gottesman Inc.----------------------------5advance.com 1 World Trade Center Steven Newhouse CGS------------------------------------------------------------ 117 J.T. Magen & Co. Inc.------------------------------------------ 25 New York, NY 10007 Co-presidents K Clare Rose Inc.----------------------------------------------- 114 Compass Robert Reffkin Kaufman Organization---------------------------------------96 CNY Group-----------------------------------------------------80212-913-9058 90 Fifth Ave. compass.com Co-founder, chief executive Compass-------------------------------------------------------- 16 Key Food Stores Co-Operative Inc.------------------------- 20 New York, NY 10011 Ori Allon Continental Grain Co.----------------------------------------- 14 Kind Healthy Snacks-----------------------------------------Co-founder, executive chairman37 Crestron Electronics Inc.------------------------------------- 32 Knotel------------------------------------------------------------ 76 ICC Industries Inc. 212-521-1700 John Farber Curry Automotive---------------------------------------------- 39 Kohn Pedersen Fox Associates--------------------------- 106 460 Park Ave. iccchem.com Founder, chairman 46 Curtis Instruments 66 Krasdale Foods Inc.--------------------------------------------------------------------------------NewInc. York, NY 10022 Blaise Sarcone President, chief financial officer L D DigitalOcean------------------------------------------------- 100 Lafayette 148 New York------------------------------------ 111 Imperial Bag & Paper Co. 201-437-7440 Robert Tillis Leon D. DeMatteis Construction Corp.-------------------- 98 Diligent Corp.--------------------------------------------------87imperialdade.com 255 U.S. 1 & 9 Chief executive Jersey City, NJ 07306 Jason Tillis President Key Food Stores Co-Operative Inc. 100 Matawan Road Matawan, NJ 07747 6

-7.1%

-7.7%

$6,100.0 0.0%

n/d

LISTING

COMPANY RANK $4,800.0 n/d -4.0% LiRo Group------------------------------------------------------ 64 LRC Construction---------------------------------------------- 63 n/d $3,500.0 3 M +92.1% Manhattan Beer Distributors-------------------------------- 29 McAllister Towing and Transportation-------------------- 125 $3,200.0 n/d Mindlance---------------------------------------------------- 109 +1.7% Mitchell Martin Inc.----------------------------------------- 122 N Navillus---------------------------------------------------------- 91 4 Nebraskaland$2,940.0 Inc.--------------------------------------------n/d58 New Jersey Devils-2.0% ------------------------------------------- 121 New York Giants----------------------------------------------- 53 New York Mets$2,700.0 n/d72 -------------------------------------------------10.0% New York Yankees ---------------------------------------------- 45 NFP--------------------------------------------------------------- 24 Noom---------------------------------------------------------110 $2,600.0 n/d -11.9% NPD Group Inc.-----------------------------------------------62 O Okonite Co.----------------------------------------------------- 61 $2,500.0 n/d67 Omnibuild------------------------------------------------------n/d Oscar Health--------------------------------------------------27 Outbrain--------------------------------------------------------- 33 $2,267.2 n/d P -29.1% Payoneer-----------------------------------------------------120 Perkins Eastman----------------------------------------------- 97 $2,000.0 n/d Pharmapacks-----------------------------------------------100 -9.1% Posillico Inc.---------------------------------------------------- 71 Prestige Employee Administrators Inc.-------------------- 21 $2,000.0 5 n/d Procida Cos.-------------------------------------------------107 +100.0% Promotion in Motion Cos.------------------------------------ 54 Publishers Clearing House----------------------------------- 36 R $1,850.0 $1,850.0 Red Apple Group Inc.------------------------------------------- 5 -2.6% 0.0% Renco Group Inc.------------------------------------------------ 8 Russell Reynolds Associates-------------------------------- 43 S $1,737.9 $1,850.0 SalSon Logistics+17.9% ----------------------------------------------+6.5%99

n/d Global building materials

COMPANY RANK 12,000 Military vehicles, automotive interiors, pallet racks, magnesium Sam Ash Music Corp.--and 70 --------------------------------------refined metals Schimenti Construction Co.--------------------------------- 93 n/d Provider of shared workspaces, Sigma Plastics Group----------------------------------------- 13 technology and services Solomon Page----------------------------------------------- 108 Sprinklr---------------------------------------------------------- 87 17,380 Enterprise software Squarespace--------------------------------------------------- 56 Standard Industries--------------------------------------------- 7 Structure Tone/Pavarini McGovern--------------------------- 4 Sugar Foods Corp.-------------------------------------------- 47 Synechron Inc.--n/d 59 ----------------------------------------------Photo and video equipment retailerT Taboola---------------------------------------------------------- 33 Taub Family Cos. 73 1,000 Hispanic-American media ---------------------------------------------Terminal Construction Corp.------------------------------- 111 Thermwell Products Co.------------------------------------ 111 Thornton Tomasetti 95 4,500 Inc. Flexible packaging -------------------------------------TickPick------------------------------------------------------- 118 Tory Burch------------------------------------------------------ 22 Trammo Inc.---------------------------------------------------- 15 Food, agribusiness and TransPerfect11,000 42 ----------------------------------------------------commodities 87 TripleLift--------------------------------------------------------Triton Construction Co.--------------------------------------- 82 n/d-------------------------------------------Commodity trading, distribution 51 Trump Organization and transportation Turtle & Hughes Inc.-----------------------------------------41 U 9,000 Newspapers and magazines 73 UiPath----------------------------------------------------------Univision Communications Inc.----------------------------- 12 V n/d Co. Technology-driven real estate 116 Vericon Construction ----------------------------------platform Vice Media Inc.------------------------------------------------ 50 Vicom Computer Services Inc.---------------------------- 123 Vista Food Exchange Inc.------------------------------------ 76 2,065 Chemicals, pharmaceuticals, W plastics, paint and resins Weeks Marine Inc.-------------------------------------------40 manufacturing and trading WeWork------------------------------------------------------------ 9 Z 3,000 Wholesale food service, Zeta Global----------------------------------------------------packaging and janitorial supplies68

WANT MORE OF CRAIN’S EXCLUSIVE DATA? VISIT CRAINSNEWYORK.COM/LISTS. 848-202-3100 Dean Janeway $1,596.0 $1,661.0 keyfood.com

Chief executive

+11.0%

+4.1%

155 Supermarket cooperative

24 | CRAIN’S NEW YORK BUSINESS | November 2, 2020

Prestige Employee Administrators Inc. 538 Broadhollow Road Melville, NY 11747

516-692-8505 prestigepeo.com

Andrew Lubash Principal Eric Foodim Chief operating officer

$1,557.6 +25.2%

n/d

Goya Foods Inc.

201-348-4900

Robert Unanue

$1,500.0

$1,500.0

n/d Professional employer organization

4,500 Food manufacturing, packaging

Advertising Section

CLASSIFIEDS

To place a classified ad, Call 212-210-0189 or Email: jbarbieri@crainsnewyork.com POSITION AVAILABLE

PUBLIC & LEGAL NOTICES 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.

SHERRY HSIEH LLC. Arts of Org filed with the Secy. of State of NY (SSNY) on 9/29/20. Office in NY County.

SSNY designated as agent upon whom process may be served. SSNY shall mail process to 13 W 13th St Apt 2EN, New York, NY 10011. Purpose: any lawful activity Notice of Formation of ROCKAWAY ASSOCIATES, LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 09/15/20. 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.

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.

WEALTH PLANNING ADVISORS, LLC, Arts. of Org. filed with the SSNY on 1 0/19/2020. Office loc: NY County.

SSNY has been designated as agent upon whom process against the LLC may be served. SSNY shall mail process to: Alexander J. Mele, 555 West 23rd Street Apt. N6M, NY, NY 10011. Purpose: Any Lawful Purpose.

Brick by Brick Consulting NYC LLC. Art of Org. filed with the SSNY on 09/16/2020 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, United States Corporation Agents, INC. 7014 13th Avenue, Suite 202 Brooklyn, NY 112 28.Purpose: Any lawful purpose.

POEH LLC, Art. of Org. filed with SSNY 9-28-20. Office Location: NY County. SSNY designated as agent of the LLC for service of process. SSNY shall mail a copy of any process to c/o Dentons US LLP, 1221 6th Ave., NY, NY 10020, Attn: Brian Raftery. Purpose: Any lawful act or 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 Qualification of Title Clearing & Escrow, LLC, Fictitious Name: Title Clearing & Escrow Agency, LLC. Authority filed with Secy. of State of NY (SSNY) on 09/25/20. Office location: NY County. LLC formed in Delaware (DE) on 06/06/19. SSNY designated as agent of LLC upon whom process against it may be served.

SSNY shall mail process to: c/o Registered Agent Solutions, Inc., 99 Washington Ave., Ste. 1008, Albany, NY 12260. Address to be maintained in DE: 9 E. Loockerman St., Ste. 311, Dover, DE 19901. 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 ELMWOOD SQUARE HOUSING GP, LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 10/21/20. 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 12207-2543.

Purpose: Any lawful activity.

Notice of Formation of ELMWOOD SQUARE HOUSING DEVELOPER, LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 10/21/20. 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 122072543. Purpose: Any lawful activity.

Notice of Formation of ELMWOOD SQUARE HOUSING CLASS B, LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 10/21/20. 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 122072543. Purpose: Any lawful activity.

Highlands Investments LLC. Arts. of Org. filed with the Secretary of State ("SSNY") on 4/8/20. Office: New York County. SSNY designated as agent of the LLC upon whom process against it may be served. The address to which the SSNY shall mail a copy of any process against the LLC served upon it is: 385 1st ave, Apt 4B, New York, NY, 10010. Purpose: Any lawful purpose.

Notice of Formation of SCHICKLER KAYE LLP Cert. of Reg. filed with Secy. of State of NY (SSNY) on 09/25/20. Office location: NY County. Princ. office of LLP: One Rockefeller Plaza, 11th Fl., NY, NY 10020.

SSNY designated as agent of LLP upon whom process against it may be served. SSNY shall mail process to the LLP at the addr. of its princ. office. Purpose: Profession of law.

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 Qualification of UNDERBITE DENTAL BRANDS LLC Appl. for Auth. filed with Secy. of State of NY (SSNY) on 09/25/20. Office location: NY County. LLC formed in Delaware (DE) on 09/22/20. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to the LLC, 230 W. 41st St., Second Fl., NY, NY 10036. DE addr. of LLC: 251 Little Falls Dr., Wilmington, DE 19808. Cert. of Form. filed with Secy. of State of DE, 401 Federal St., Ste. 4, Dover, DE 19901.

Purpose: Any lawful activity.

NOTICE OF FORMATION OF Law Office of Alexandra Bonacarti. Articles of Organization filed with the SSNY on 7/27/20. Office location: New York County.SSNY has been designated as agent upon whom process against it may be served. The address to which SSNY shall mail a copy of any process against the PLLC served upon hi m/her is: One Liberty Plaza, 23rd Floor, New York, NY 10006. The principal business address of the PLLC is: One Liberty Plaza, 23rd Floor, New York, NY 10006. Purpose:any lawful act or activity.

BALTIC CAPITAL MANAGEMENT, LLC. Art. of Org. filed with the SSNY on 10/01/20. 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 C T Corporation System, 28 Liberty St New York, NY 10005. Purpose: Any lawful purpose.

Notice of Qualification of CALIBRANT WOODLAND I, LLC Appl. for Auth. filed with Secy. of State of NY (SSNY) on 10/13/20. Office location: NY County. LLC formed in Delaware (DE) on 09/24/20. Princ. office of LLC: 125 W. 55th St., NY, NY 10019. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to c /o Corporation Service Co. (CSC), 80 State St., Albany, NY 12207-2543.

DE addr. of LLC: c/o CSC, 251 Little Falls Dr., Wilmington, DE 19808.

Cert. of Form. filed with Secy. of State, Div. of Corps., John G. Townsend Bldg., 401 Federal St., Dover, DE 19901. Purpose: Any lawful activity.

Notice of Formation of WVA Service LLC, Arts. of Org. filed with SSNY on September 21, 2020. Office: BX County. SSNY designated agent of LLC upon whom process against it may be served. SSNY shall mail copy of process to LLC: 1015 Morris Park Ave, Bronx, NY 10462. Purpose: any lawful activity.

NOTICE OF FORMATION of limited liability company (LLC). Name: JE T’AIME FORD, LLC. Articles of Organization filed with Secretary of State of New York (SSNY) on 09/09/2020. Office location: New York County. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail copy of process to: JAMIE FORD. 175 W. 87th ST., APT. 19H, NEW YORK, NY 10024. Purpose: shoe company.

Notice of Qualification of CALIBRANT TE DEVELOPMENT, LLC Appl. for Auth. filed with Secy. of State of NY (SSNY) on 10/13/20. Office location: NY County. LLC formed in Delaware (DE) on 09/24/20. Princ. office of LLC: 125 W. 55th St., NY, NY 10019. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to c/o Corporation Service Co. (CSC), 80 State St., Albany, NY 12207-2543. DE addr. of LLC: c/ o CSC, 251 Little Falls Dr., Wilmington, DE 19808. Cert. of Form. filed with Secy. of State, Div. of Corps., John G. Townsend Bldg., 401 Federal St., Dover, DE 19901. Purpose: Any lawful activity.

Director (Apollo Management Holdings, L.P. â&#x20AC;&#x201C; New York, NY) Coordinate WKH EXGJHW·J EXV SODQ·J SURFHVVHV IRU Ã&#x20AC;UP·V 7HFK GSUWPQW &ROODE Z FKLHI LQIR WHFK RIIFUV LQ GYOS·J \U WHFK SRUWIROLR SODQ UHFPPQG·J HPUJ·J WHFK WR LPSURYH EXV RSV ) 7 5HVXPHV 0 /HY\ $SROOR 0DQDJHPHQW +ROGLQJV / 3 : WK 6W WK )O 1< 1< -RE,' Oath Holdings Inc. has multiple openings in New York, NY (various levels/ types): · Software Dev Engineer. Design, develop, modify, implement, &/or test software for various products. Ref. Job # LAPIYJ. · Software Dev Engineer. Design, dev, modify, implement &/or test software for company products. Ref. Job # LAMOTB. To apply, mail resume to Oath, Attn: Jillian Johnson, 701 1st Ave., Sunnyvale, CA 94089. Refer job title & number.

Oath Holdings Inc. has multiple openings in New York, NY (various levels/ types): â&#x20AC;¢ Sr Director, Sales Trade Marketing.

Lead business to business marketing strategy & execution, w/ go-to-market DSSURDFK 7UDYHO 5HT·G 5HI -RE LAPERG. â&#x20AC;¢ Price Yield Manager. Collect intel on competitor data rates & pricing VWUDWHJLHV 5HI -RE /$.+$$ â&#x20AC;¢ Editor. Write breaking news stories PDLQWDLQ IURQW SDJH 5HI -RE SADA6832.

To apply, mail resume to Oath, $WWQ -LOOLDQ -RKQVRQ VW $YH 6XQQ\YDOH &$ 5HIHU MRE WLWOH & number.

Project/Program Manager needed by Oath Holdings, Inc. in New York, NY. Support multiple engineering teams

building products for one of the leading digital news publishers in the world.

Use agile & kanban methodologies to

RSWLPL]H WKH HIÃ&#x20AC;FLHQF\ RI HDFK WHDP reduce friction among product, design & engineering partners Apply mail

resume: Oath, Attn: Jill Johnson, 701

SUBMIT YOUR BUSINESS CLASSIFIEDS TODAY Get your message in front of New Yorkâ&#x20AC;&#x2122;s influential business community with Crainâ&#x20AC;&#x2122;s New York Business - Classified Ads

First Ave, Sunnyvale, CA 94089. Must

reference job title & Ref#AGSHAA

Urban Compass, Inc. has a position in New York, NY. *Senior Software Engi-

neer [COMP-NY20-NEER] â&#x20AC;&#x201C; Build high performance website & data services

for the real estate industry; write com-

Advertising Section

plete, well tested, database driven web

applications in programming languages Java, Python, and Go; & design large

To place a classified ad, Call 212-210-0189 or Email: jbarbieri@crainsnewyork.com

systems with a particular emphasis of industry standard best practices.

Mail to: M. Quinn, 90 Fifth Ave Fl 3, New York NY 10011& note Job ID#

NOVEMBER 2, 2020 | CRAINâ&#x20AC;&#x2122;S NEW YORK BUSINESS | 25

P021_CN_20200026.indd 25

10/30/20 1:31 PM

Advertising Section

CLASSIFIEDS

To place a classified ad, Call 212-210-0189 or Email: jbarbieri@crainsnewyork.com PUBLIC & LEGAL NOTICES

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.

Notice of Formation of HC HOLDCO III LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 09/30/20. Office location: NY County. SSNY designated as agent of LLC upon whom process against it may be served.

SSNY shall mail process to c/o Timothy P. Terry, 667 Madison Ave., 24th Fl., NY, NY 10065. Purpose: Any lawful activity.

Notice of Formation of HC HOLDCO IV LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 09/30/20. Office location: NY County. SSNY designated as agent of LLC upon whom process against it may be served.

SSNY shall mail process to c/o Timothy P. Terry, 667 Madison Ave., 24th Fl., NY, NY 10065. Purpose: Any lawful activity.

31 TMH Realty LLC. Appl. for Authority filed with Secy. of State of NY (SSNY) on 10/09/20. Off. loc.: NY Co. Orig. juris.: DE. SSNY des. as agent of LLC upon whom process may be served. SSNY shall mail process to the LLC, c/o Allison Young, 31 West 89th Street, New York, NY 10024. Purpose: General.

Notice of Qualification of REDA 104 LLC Appl. for Auth. filed with Secy. of State of NY (SSNY) on 09/18/20.

Office location: NY County. LLC formed in Delaware (DE) on 09/11/20. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to c/o Corporation Service Co. (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, John G. Townsend Bldg., 401 Federal St., Ste. 4, Dover, DE 19901. Purpose: Any lawful activity.

ALLAY THERAPY LCSW, PLLC, a Prof.

LLC. Arts. of Org. filed with the SSNY on 09/10/2020. 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, 421 8th Avenue, #192, NY, NY 10116. Purpose: To Practice The Profession Of Licensed Clinical Social Work.

Notice of Qualification for Public Sphere LLC. Authority filed with the Sec’y of State of New York (SSNY) on 3/4/20. Office loc: NY County. LLC formed in NJ on 5/1/19. SSNY designated agent upon whom process may be served and mailed to: The LLC, PO Box 1144, Hoboken, NJ 07030. LLC filed with NJ Dept of Treasury, 225 W State Street, Trenton, NJ 08625. Purpose: any lawful purpose.

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.

Notice of formation of RokoPack LLC. Articles of Organization filed with the Secretary of State of New York (SSNY) on 09/08/2020. Location: New York County. SSNY designated as agent for service of process on LLC. SSNY shall mail a copy of process to: RokoPack LLC 210 east 15th Street 5L NY, NY 10003 Purpose: Any lawful activity.

Elam Professional Industrial Cleaning Services LLC. filed with SSNY on 09/16/2020. Office: New York County. SSNY designated as agent for process and shall mail copy to: 300 West 145 Street, #6T, New York, NY 10039. Purpose: Any lawful purpose.

Notice of Formation of KW Media Partners, LLC. Arts of Org filed with the Secy. of State of NY (SSNY) on 7/16/20. Office location: NY County.

SSNY designated as agent upon whom process may be served and shall mail copy of process against LLC to 5 W 37th St., Ste. 501, NY, NY 10018. Princ. Bus. Addr: 248 E. 31st St., Unit 4B, NY, NY 10016. Purpose: Any lawful act.

NOTICE OF FORMATION OF LIMITED LIABILITY COMPANY (LLC) The name of the LLC is: JACKSON TERRACE PRESERVATION, LLC Articles of Organization were filed with the Secretary of State of New York (SSNY) office on October 7, 2020. The County in which the Office is to be located: New York County, NY. The SSNY is designated as agent of the LLC upon whom process against it may be served. The address to which the SSNY shall mail a copy of any process against the LLC: 200 VESEY STREET, 24TH FLOOR, NEW YORK, NEW YORK 10281. Purpose: any lawful activity.

Notice of formation of The Law Office of Kaitlin Rolston, PLLC. The Articles of Organization field with the Secretary of State of New York (“SSNY”) on September 10, 2020 in 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 against the PLLC served upon it is 43 West 43rd Street, Suite 275, New York, NY 10036. The principal place of business for the PLLC is 43 West 43rd Street, Suite 275, New York, NY 10036.

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.

Notice of Formation of XAVIER DEVAUGHN LLC. Arts of Org filed with SoS of New York (SSNY) on 6/23/20. Office location: NY County.

SSNY is designated as agent of LLC upon whom process may be served and shall mail copy of process against LLC to: 33W 19th St., 4th Fl, NY, NY 10011. R/A: US Corp Agents, Inc. 7014 13th Ave, #202, BK, NY 11228. Purpose: any lawful act.

Notice of Qualification of CALIBRANT WOODLAND II, LLC Appl. for Auth. filed with Secy. of State of NY (SSNY) on 10/13/20. Office location: NY County. LLC formed in Delaware (DE) on 09/24/20. Princ. office of LLC: 125 W. 55th St., NY, NY 10019.

SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to c /o Corporation Service Co. (CSC), 80 State St., Albany, NY 12207-2543.

DE addr. of LLC: c/o Corporation Service Co., 251 Little Falls Dr., Wilmington, DE 19808. Cert. of Form. filed with Secy. of State, Div. of Corps., John G. Townsend Bldg., 401 Federal St., Dover, DE 19901. Purpose: Any lawful activity.

Notice of Formation of HC HOLDCO V LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 09/30/20. Office location: NY County. SSNY designated as agent of LLC upon whom process against it may be served.

SSNY shall mail process to c/o Timothy P. Terry, 667 Madison Ave., 24th Fl., NY, NY 10065. Purpose: Any lawful activity.

Advertising Section

PEOPLE ON THE MOVE 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

HEALTH CARE

REAL ESTATE

Marks Paneth LLP

Innovative Management Solutions of New York

Dealpath

Lisa Minniti-Soska has joined Marks Paneth LLP as a Partner in the firm’s Real Estate Group.

For more than two decades, she has had extensive experience serving general construction, construction management, homebuilders and specialty contractor clients. She is adept at delivering accounting and auditing services, including tax preparation and planning, business consulting, forecasts and projections, capital and debt financing, and mergers and acquisitions support.

Innovative Management Solutions of New York, a management service organization formed by Coordinated Behavioral Care IPA and Coordinated Behavioral Health Services IPA, has named Mathew Smith, LMSW, MBA Chief Operating Officer. A licensed social worker with an MBA from Columbia University, Matt comes to IMSNY with significant experience working in and leading not for profit organizations in New York, with a focus on behavioral health, child welfare, and intellectual/ developmental disabilities.

Neil Isford has joined Dealpath as Senior Vice President, Sales. He will be instrumental in building and scaling revenue organization and programs, helping to transform the real estate industry with purpose-built software solutions for smart pipeline tracking, deal analytics and collaborative workflows. Isford is a seasoned executive who has spent the majority of his career selling and delivering transformative technology across enterprise clients with industry verticalspecific solutions.

SHARE YOUR COMPANY’S JOURNEY

Feature your latest milestones, launches, partnerships, awards and more in Crain’s

For more information, contact Debora Stein at dstein@crain.com or submit directly to

CRAINSNEWYORK.COM/COTM

26 | CRAIN’S NEW YORK BUSINESS | NOVEMBER 2, 2020

P025-26_CN_20201102.indd 26

10/30/20 3:51 PM

GOTHAM GIGS

BUCK ENNIS

PEREZ at Tremont Renaissance, 411 E. Tremont Ave. in the Bronx

RADAME PEREZ AGE 44

Keeping his eye on the prize

RESIDES Throggs Neck, Bronx

Bronx developer pours 26 years into affordable-housing project

EDUCATION Bachelor’s in sociology, Seton Hall University

BY BRIAN PASCUS

FULL HOUSE Perez lives with his wife, Jessica; their children, Aiden and Logan; and their American Staffordshire terrier.

BEST ADVICE Perez lives by the words, “Be grateful, and then leave the world a little better than you found it,” which were inspired by a Ralph Waldo Emerson quote.

PAST WORK He is a co-founder of the National Museum of HipHop, which seeks to serve as an archive for aspects of the genre, such as break dancing.

PROUDEST MOMENT Perez is happy to have worked on the Tremont Renaissance, a project that is home to a Covid-19 center of excellence, a 16,000-square-foot supermarket and 100% affordable units for 255 families.

R

adame Perez is a busy man.

As chief operating officer of Mastermind LTD—his family’s real estate development and property management firm—he is in charge of everything from investor relations to inventory management and legal affairs.

With 2.5 million square feet of property, Mastermind is one of the most active real estate firms in the Bronx. And as a first-generation Puerto Rican New Yorker, Perez is one of the top Hispanic real estate executives in the city.

“Who the heck is a Latino real estate developer?” he said. “It’s very hard for us to have access to capital, and you can’t do real estate development without access to capital.”

Perez’s role straddles the intersection between finance, politics and construction. Take his most pressing project: Belmont Cove, a 160-unit, 22,500-square-foot afford-

able-housing building at East 176th Street and Belmont Avenue in the Bronx. The project is still in the rezoning phase, but Perez has been pushing it forward since 1994, when he was only 18 years old.

Perez’s family acquired the land in the 1990s and rented it as a parking lot. Michael Bloomberg’s election in 2001 opened up zoning laws in a push for affordable housing.

Because the property had been classified as an industrial manufacturing zone, Perez needed to change its designation to a residential one.

This brought him to the City Council, its land-use committee and various agencies within both the Bloomberg and de Blasio administrations. After years of meetings with the Department of Housing Preservation and Development, the Department of Health and Mental Hygiene, and individual council members, a vote cleared the way for him to begin development in 2019.

“This has been a long work in

progress,” he said with a laugh.

The lot adjacent to the property created extra complications. The Department of Health owned it, but Perez couldn’t build out his development without it. He made a deal with the city to buy the land and use part of it as a parking lot for a Health Department medical center.

Not many developers would pour almost three decades into an affordable-housing project, which offer meager cash flows compared to commercial ones. But Belmont Cove will bring thousands of residents into the area, Perez noted.

A child of the Bronx, he appreciates that the borough embraces those with ties to Puerto Rico, Mexico, South and Central America, and the Dominican Republic.

“There are differences between those communities, just as there are differences in those countries,” Perez said. “But everyone agrees we should be here. We make the city better.” ■

“IT’S VERY HARD FOR LATINOS TO HAVE ACCESS TO CAPITAL, AND YOU CAN’T DO REAL ESTATE DEVELOPMENT WITHOUT ACCESS TO CAPITAL”

NOVEMBER 2, 2020 | CRAIN’S NEW YORK BUSINESS | 27

NO NONSENSE. JUST BUSINESS. We know that as a small business owner, you have a lot on your plate. So we’ll get straight to the point. Spectrum Business offers the best Internet and Phone services, plain and simple.

• Fast Internet starting speeds at the best price.

• A network with over 99.9% reliability.§ • Advanced Business Phone with a host of features.

And, Spectrum Business has no contracts, no added phone taxes and no hidden fees—ever.

The price you see is the price you pay.

That’s no nonsense, just business.

Get started with Spectrum Business

Call 855-297-0298

Or visit Business.Spectrum.com

§99.9% network reliability based on average HFC Availability, Jan 2019 - Jul 2020. Visit business.spectrum.com/network-reliability for details. Services subject to all applicable service terms & conditions, which are subject to change. Services not avail. in all areas. Restrictions apply. Call for details. © 2020 Charter Communications, Inc.

CN019935.indd 1

10/28/20 1:14 PM

TOP INTERNET PROVIDER Fastest, Most Reliable Download Speeds – 2018 FCC Broadband Report°

BEST SERVICES. BEST PRICE.

PERIOD. EXCLUSIVE OFFER FOR NEW CUSTOMERS

1 MONTH OF^ SERVICE FREE ON INTERNET, PHONE AND TV.

— NO Contracts • NO Commitments — Offer expires 12/31/20

• NO Contracts • NO Added Phone Taxes • NO Hidden Fees

Claim your special offer today. Promo code A26N.

877-509-2342

Spectrum Business Internet

Spectrum Business Voice

OVER 35+

200Mbps INTERNET

1 MONTH FREE SERVICE^ · 1 MONTH FREE SERVICE^ · 1 MONTH FREE SERVICE^ · 1 MONTH FREE SERVICE^

FEATURES

1 MONTH FREE SERVICE^ · 1 MONTH FREE SERVICE^ · 1 MONTH FREE SERVICE^ · 1 MONTH FREE SERVICE^

Spectrum Business Voice

Spectrum Business Internet For Only

49

$

99

For Only

/mo. when bundled for one year*

Reliable Voice with over 35+ FREE Advanced Calling Features.

Over 99.9% Network Reliability

§

3-Way Calling

NO Data Caps

Offer expires 12/31/20; subject to change. Qualified new business customers only. Must not have subscribed to applicable services w/ in the last 30 days & have no outstanding obligation to Charter. ^Free month offer will be applied as a credit by the 2nd month statement. Taxes, fees, equipment, and broadcast surcharge included. Excludes installation fees, usage charges & Spectrum Mobile. *$49.99 Internet offer is for 12 mos. when bundled w/ TV or Voice & incl. Spectrum Business Internet starting speeds. Internet speed may not be avail. in all areas. Actual speeds may vary. Advertised speed based on download speed on wired connection.

Wireless Internet speeds may vary. Spectrum Internet modem is req'd & included in price; Internet taxes are included in price except where req'd by law (Texas). **$19.99 Voice offer is for 12 mos. when bundled with Internet & incl. one business phone line w/ unlimited local & long distance w/ in the U.S., Puerto Rico, & Canada plus 2,000 long-distance minutes to Mexico. Limited-time offer. Offer not available in all areas. Offer not available to bars and restaurants. Includes phone taxes, charges and fees. Other telephone services may have corresponding taxes and rates. ‡Spectrum Business TV Essentials is $19.99/mo. and requires subscription to Spectrum Business Internet. Additional taxes may apply. Spectrum TV App required to access Spectrum Business TV Essentials. Spectrum TV App is available through either a web browser (via watch.spectrum.net), Roku or Apple TV. Service only accessible through Spectrum Business Internet connection at business location. Account credentials may be required to stream some TV content online. Not available to bar and restaurant customers. Number of channels may vary. All channels not available in all areas. Additional services are extra. ‡‡While supplies last. Requires purchase of qualifying Spectrum Business Internet, Phone and TV bundle.

Apple TV may require static IP address or Business WiFi. Apple TV offer not available to bars and restaurants. Apple TV offer not available in Hawaii. Restrictions apply. °Based on Eighth Measuring Broadband America Fixed Broadband report completed by the FCC, https://www.fcc.gov/reports-research/reports/measuring-broadband-america/measuring-fixed-broadband-eighth-report. =Value based on retail price for comparable services. §99.9% network reliability based on average HFC Availability, Jan 2019 - Mar 2020. Visit business.spectrum.com/network-reliability for details. ±View Business.Spectrum.com/guarantee for details about the 30-Day Customer Satisfaction Guarantee. ◊Contract Buyout offer is valid up to $500. Visit Business.Spectrum.com/contractbuyout for details. Services subject to all applicable service terms & conditions, which are subject to change. Services & promo. offers not avail. in all areas. Standard pricing applies after promo. period. Installation & other equipment, taxes & fees may apply. Restrictions apply. Call for details. © 2020 Charter Communications, Inc.

Get the best business services for the best price.

Caller ID

Voicemail to Email

Call Hunting

many more

UNBEATABLE ENTERTAINMENT for every business.

Get more with Spectrum Business Internet: NO Speed Throttling

/mo. per line when bundled with Internet for one year**

Offer expires 12/31/20

Offer expires 12/31/20

FREE Security Suite, Email Addresses, Modem and more (over $50/mo.= value)

19

99

$

SPECTRUM BUSINESS TV ESSENTIALS

19

$

99

/mo. when bundled with Internet‡

877-509-2342

With 60+ popular live streaming channels, keep your customers engaged and your employees one step ahead.

Perfect for waiting rooms and break rooms No box needed No contracts

Business.Spectrum.com

Spectrum Business Internet

Spectrum Business Voice

OVER 35+

200Mbps INTERNET

1 MONTH FREE SERVICE^ · 1 MONTH FREE SERVICE^ · 1 MONTH FREE SERVICE^ · 1 MONTH FREE SERVICE^

FEATURES

1 MONTH FREE SERVICE^ · 1 MONTH FREE SERVICE^ · 1 MONTH FREE SERVICE^ · 1 MONTH FREE SERVICE^

Spectrum Business Voice

Spectrum Business Internet For Only

49

$

99

For Only

/mo. when bundled for one year*

Reliable Voice with over 35+ FREE Advanced Calling Features.

Over 99.9% Network Reliability

§

3-Way Calling

NO Data Caps

Offer expires 12/31/20; subject to change. Qualified new business customers only. Must not have subscribed to applicable services w/ in the last 30 days & have no outstanding obligation to Charter. ^Free month offer will be applied as a credit by the 2nd month statement. Taxes, fees, equipment, and broadcast surcharge included. Excludes installation fees, usage charges & Spectrum Mobile. *$49.99 Internet offer is for 12 mos. when bundled w/ TV or Voice & incl. Spectrum Business Internet starting speeds. Internet speed may not be avail. in all areas. Actual speeds may vary. Advertised speed based on download speed on wired connection.

Wireless Internet speeds may vary. Spectrum Internet modem is req'd & included in price; Internet taxes are included in price except where req'd by law (Texas). **$19.99 Voice offer is for 12 mos. when bundled with Internet & incl. one business phone line w/ unlimited local & long distance w/ in the U.S., Puerto Rico, & Canada plus 2,000 long-distance minutes to Mexico. Limited-time offer. Offer not available in all areas. Offer not available to bars and restaurants. Includes phone taxes, charges and fees. Other telephone services may have corresponding taxes and rates. ‡Spectrum Business TV Essentials is $19.99/mo. and requires subscription to Spectrum Business Internet. Additional taxes may apply. Spectrum TV App required to access Spectrum Business TV Essentials. Spectrum TV App is available through either a web browser (via watch.spectrum.net), Roku or Apple TV. Service only accessible through Spectrum Business Internet connection at business location. Account credentials may be required to stream some TV content online. Not available to bar and restaurant customers. Number of channels may vary. All channels not available in all areas. Additional services are extra. ‡‡While supplies last. Requires purchase of qualifying Spectrum Business Internet, Phone and TV bundle.

Apple TV may require static IP address or Business WiFi. Apple TV offer not available to bars and restaurants. Apple TV offer not available in Hawaii. Restrictions apply. °Based on Eighth Measuring Broadband America Fixed Broadband report completed by the FCC, https://www.fcc.gov/reports-research/reports/measuring-broadband-america/measuring-fixed-broadband-eighth-report. =Value based on retail price for comparable services. §99.9% network reliability based on average HFC Availability, Jan 2019 - Mar 2020. Visit business.spectrum.com/network-reliability for details. ±View Business.Spectrum.com/guarantee for details about the 30-Day Customer Satisfaction Guarantee. ◊Contract Buyout offer is valid up to $500. Visit Business.Spectrum.com/contractbuyout for details. Services subject to all applicable service terms & conditions, which are subject to change. Services & promo. offers not avail. in all areas. Standard pricing applies after promo. period. Installation & other equipment, taxes & fees may apply. Restrictions apply. Call for details. © 2020 Charter Communications, Inc.

Get the best business services for the best price.

Caller ID

Voicemail to Email

Call Hunting

many more

UNBEATABLE ENTERTAINMENT for every business.

Get more with Spectrum Business Internet: NO Speed Throttling

/mo. per line when bundled with Internet for one year**

Offer expires 12/31/20

Offer expires 12/31/20

FREE Security Suite, Email Addresses, Modem and more (over $50/mo.= value)

19

99

$

SPECTRUM BUSINESS TV ESSENTIALS

19

$

99

/mo. when bundled with Internet‡

877-509-2342

With 60+ popular live streaming channels, keep your customers engaged and your employees one step ahead.

Perfect for waiting rooms and break rooms No box needed No contracts

Business.Spectrum.com

SWITCH NOW AND GET 1 MONTH OF SERVICE FREE^ SPECTRUM BUSINESS GIVES YOU MORE Fast Internet starting speed—up to 200Mbps

No data caps or speed throttling

30-Day Customer Satisfaction Guarantee±

Unlimited Long Distance

Spectrum Business Internet 200Mbps

49

$

FOR ONLY

99 /mo. when bundled for one year*

Spectrum Business Voice

19

$

FOR ONLY

99

/mo. per line when bundled with Internet for one year**

Offer expires 12/31/20

NO Contracts • NO Added Phone Taxes • NO Hidden Fees We’ll buy out your current contract—up to $500!◊

Claim your special offer today. Promo code A26N.

Get the best business services for the best price.

877-509-2342

SBIZ-GEN200-1102