Crain's New York Business by crains-new-york-business

ASKED & ANSWERED Jumaane Williams on making rezoning equitable

OH, BABY Parents facing a nanny shortage as they return to office

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PAGE 3 CRAINSNEWYORK.COM | DOUBLE ISSUE | AUGUST 9-22, 2021

COVID-19

Movement builds for universal vaccine mandate Companies join city in betting on strategy to avoid shutdowns BY CARA EISENPRESS

ew York’s virus-fighting accessory of necessity has gone from the face mask to the vaccine card. Vaccine requirements have hit a tipping point in New York as a citywide mandate looms and industries from Broadway to banking to real estate make Covid-19 shots mandatory for employees and sometimes customers. DATE THE Mayor Bill de city’s vaccine Blasio’s bet is mandate begins; that the city will enforcement get back to norbegins in mal sooner if September. employees and patrons at restaurants, gyms, theaters and other indoor entertainment venues, as well as hospital workers, are required to receive a Covid-19 vaccine. “It’s the least-worst path to take in order to ensure we don’t go into lockdown again,” said restaurateur Liran Leibman, who added that his eatery, Zizi in Chelsea, could not survive another closure. The city’s vaccine mandate goes into effect Aug. 16, and enforcement begins Sept. 13. For proof, customers can show a vaccination card, use the city’s app to share an image of the card or flash the state’s Excelsior Pass. The mayor has

AUG. 16

THE NEXT MAYOR

BY BRIAN PASCUS

Eric Adams says fear and timidity won’t work: “We have to put our toes back in the water”

ric Adams is gearing up to face four public-policy challenges that would make even the most seasoned city administrator pause and take stock. A pandemic-induced economic contraction and worries about crime could stymie the presumptive next mayor’s agenda, while a billion-dollar budget deficit might get even worse when assessed property values drop in the depleted commercial real estate sector. Adams argues the city must confront its challenges in partnership with the

BUCK ENNIS

CHALLENGE E CHECKLIST ADAM PLANS to partner with the business community.

NEWSPAPER

VOL. 37, NO. 28

See POLICIES on page 25

EDITORIAL

GOV. ANDREW CUOMO MUST RESIGN PAGE 8

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See VACCINE on page 4

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TECHNOLOGY

Paper or passport? Restaurants, venues, offices weigh options for enforcing vaccine mandates BY RYAN DEFFENBAUGH

loaded a picture of Mickey Mouse to the app—which was accepted as proof of vaccination, he told WNYC.

Private sector

AP PHOTO/NY GOVERNOR’S PRESS OFFICE

ith New York set to be the first U.S. city to mandate vaccination in some settings this month, restaurants, bars and gyms are weighing which tech options they can use to enforce the rules. Mayor Bill de Blasio has focused his plan, announced last Tuesday, on a “Key to NYC Pass.” That is not, somewhat confusingly, a new form of vaccine passport. It instead refers to a combination of options for proving one has been vaccinated: the city’s Covid Safe app, the state’s Excelsior Pass app and the paper card issued by the U.S. Centers for Disease Control and Prevention. “So long as that proof is accurate and real, wherever it comes from, that’s what they’ll need to show,” de Blasio said. Gov. Andrew Cuomo launched the Excelsior Pass in March with the help of IBM. The app was developed for $2.5 million using blockchain technology. It exceeded 2 million downloads last month— still a fraction of the state’s overall vaccinated population. The app connects with the official record of people vaccinated in New York state, and it issues a pass with a QR code certifying that they were vaccinated. People submit

their name, ZIP code, birth date and the county where they were vaccinated to get the pass. Restaurants, the Knicks, the Yankees and Springsteen on Broadway have used the app. But individuals have reported difficulty in confirming their vaccination status through the app. And privacy experts have criticized its lack of clear guidance on how user data is protected. The city recently launched its competing offering, Covid Safe. Designed by the Department of Information Technology and Telecommunications, the app had attracted a little more than 1,000 downloads

WEBCAST CALLOUT

REAL ESTATE

State vs. city

in its first five days on the Google and Apple app stores, according to research firm SensorTower. For better or worse, the city app operates much more simply than the state’s. Its main function is allowing users to upload a picture of their vaccine card. The information is stored nowhere but the person’s phone, the app’s user agreement says—potentially alleviating privacy concerns. But it also eliminates the ability of a third party to verify the vaccine card, leaving it up to each venue to scrutinize the image. Albert Fox Cahn, a lawyer who runs the nonprofit Surveillance Technology Oversight Project, up-

On top of the government apps, private companies are offering ways to track vaccine status. Whether those will be accepted in the “Key to NYC Pass” remains to be seen. The city said it will release further rules Aug. 16, when the policy is scheduled to begin. Clear Secure, a Manhattan technology company that listed on the New York Stock Exchange in June, has landed some city partners for its Health Pass product. The app has an option to upload a CDC vaccine card and connects to some vaccination and Covid-19 testing databases for verification. Users take a selfie outside the venue they wish to enter. If the health data they have uploaded matches the venue’s requirements—such as vaccination or a recent negative test—they receive a green “pass” on their phone to show venue staff. Clear’s partners include Shakespeare in the Park, Danny Meyer’s Union Square Hospitality restaurants and the Metropolitan Opera House. “The hope is that wherever you are going—the office, a restaurant, meeting, basketball game—they all

accept Health Pass and you don’t have to share your data with all those parties,” said Catesby Perrin, executive vice president of growth at Clear. SevenRooms, a software provider for restaurants, has added a feature that allows restaurants to require customers to attest they are vaccinated before making an indoor reservation online. They would need to show further proof once they arrive. Venues with vaccine mandates already in place have largely adopted all of the above. Union Square Hospitality, for instance, said it will accept a physical Covid-19 vaccine card, a Clear Health Pass, the Excelsior Pass or similar government-provided vaccine pass, or a photo of a vaccination card. Andrew Rigie, executive director of the New York City Hospitality Alliance, said many restaurants are still in wait-and-see mode. The alliance was cautiously supportive of the mandate in a recent statement, though Rigie said it creates a difficult operational challenge for restaurants. On top of tech help, restaurants need buy-in from customers. “People did not go into the restaurant business to be Covid enforcers,” Rigie said. “If we are taking on this burden, we need the dining and drinking public to be respectful of workers, regardless of how they feel about it.” ■

SEPT. 14 LIFE SCIENCES: OPPORTUNITIES AND CHALLENGES The life sciences industry is considered one of the most promising for economic development in New York City, having the potential to create up to 40,000 good-paying jobs. Mayor Bill de Blasio recently announced a plan to double the city’s $500 million investment in the sector to $1 billion. This panel will discuss the future of the industry and what needs to be done to help it realize its potential.

VIRTUAL EVENT Time: 4 to 5 p.m. CrainsNewYork.com/ SeptBizForum

BY NATALIE SACHMECHI

oving to the suburbs is so last year. Apartment sales in Manhattan have more than doubled since July 2020, and deal volume in Westchester County and on Long Island is waning after buyers flocked there last year, according to data from Douglas Elliman. With little Hamptons inventory left because of last year’s high demand, contracts signed for houses there are down more than 60% since July 2020—52% on the North Fork and 31% on other parts of the island. Fewer homes are coming on the market. In Westchester, new listings for single-family homes amounted to half of the nearly 1,200 homes that came online a year ago, the report said. In the Hamptons and on the North Fork, that number was down more than 35%. “That’s because people have tak-

en them all,” said Jonathan Miller, the report’s author. “Demand is being overheated by the unusually low mortgage rate environment. “We are not seeing supply coming on the market fast enough to meet demand.”

Co-op coup In Manhattan, nearly 700 contracts were signed for co-ops last month, while 276 were signed in July 2020. More than 500 were signed for condos, compared with 192 last year. The most popular were co-ops selling for less than $2 million and condos for less than $4 million, according to the data. New listings in the borough are down 30% from a year ago, thanks to buyers scooping up apartments. In Brooklyn, sales grew more slowly, at a little more than 70%, while inventory fell by 14%. It’s a good time for sellers, Miller said. “You have people that wanted to

sell in 2020 and decided to wait; some people are trading up or downsizing,” he said. “When there’s robust activity and inventory declines, that’s an environment for sellers to come out and try their luck.” But inventory is still unusually booming. It’s about 22% above the 10-year second-quarter average in Manhattan, Miller said, but 15% lower than October’s high. The recent boost in city sales won’t be slowing down anytime soon, he added. Low mortgage rates and another injection of pandemic-relief money in the hands of

AP PHOTO

Buyers are ditching suburbs, turning to Manhattan in apartment sales boom

buyers will only keep demand growing, he predicted. “You’re looking at several years of potentially robust conditions,” he said. “As someone who is paid to worry for a living, I’m uncomfortably optimistic.” ■

Vol. 37, No. 28, August 9-22, 2021—Crain’s New York Business (ISSN 8756-789X) is published weekly,except for a combined issue on 1/4/21 and 1/11/21, 6/28/21 and 7/5/21, 7/12/21 and 7/19/21, 7/26/21 and 8/2/21, 8/9/21 and 8/16/21 and the last issue in December. 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 2021 by Crain Communications Inc. All rights reserved.

2 | CRAIN’S NEW YORK BUSINESS | AUGUST 9, 2021

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ECONOMY

Demand for nannies ‘off the charts’ as parents eye return to office work Some are offering better pay, benefits to entice in-demand domestic helpers BY CARA EISENPRESS

s parents prepare to return to the office, their sudden need for child care has opened the jobs spigot for nannies who had few opportunities for more than a

year. “Demand for help now is off the charts,” said Jaime Hochhauser, co-founder of HomeFront Lifestyle Staffing, a headhunting firm for nannies, housekeepers and chefs, among other private employees. Although domestic employers are offering better benefits and higher pay, the nannies who used to take care of their children are not immediately flocking back to work, those in the industry say. If working parents are unable to secure help with their kids by September, when many offices have said they will reopen, parents’ inability to leave home could slow fall’s back-to-work momentum and shepherd in a third chaotic year for city workers with children. Already, labor force participation among mothers shows the marks of school closures, layoffs and personal calculations that deemed it too risky to have a caretaker in their homes. In April 1.5 million fewer moms

“I HAVE FOUR NANNIES WHO ARE LOOKING FOR JOBS. THEY CAN CHOOSE WHATEVER THEY WANT” were working than in February 2020, according to the U.S. Census, a larger drop than among fathers or employees without kids.

A robust setup DANIELA ROLDAN, a nanny with the Wellington Agency, which is seeing an uptick in demand for the domestic helpers it places in New York and Florida BUCK ENNIS

The nanny shortage began when New York closed because of Covid-19. Families with domestic staff often offered them a choice, said April Berube, owner and founder of the Wellington Agency: move in with the families of the children they cared for or be fired. That worked at first, Berube said, but among her clients, most of the relationships had fizzled by May. As far as clients seeking out new placements, she said, “New York was completely dead. There wasn’t a single call.” Families with whom Berube works had either left the city for their larger second homes or sought to spend the year someplace with warmer weather or fewer pandemic-related restrictions. Hochhauser said she placed a few nannies, but those were only for live-in positions. One family rented an apartment in its building for a nanny to stay, she said. Parents realize their child care setup must be robust enough to cover the busy work-life engagements of a two-career family and accommodate potential quarantines for Covid-19 exposures or remote-schooling days. New York state has yet to release final guidelines for health rules at schools. At the beginning of July, Berube said, she started getting around 10 calls a day, com-

pared to normal summers, when there might be just a handful of new calls a week. Berube, who also places staff in Florida, said she recognizes the crunch. It’s exactly what happened in that state in September, when she was getting more than 100 requests a month and making around 30 placements—far more than typical. Salaries in Florida, she said, went from a standard of about $28 an hour for a housekeeper to $100,000 a year, sometimes with fully paid health coverage and more paid holidays—even full summers off. But in New York right now, there are few candidates. Hochhauser said that some people found positions closer to where they live,

and others pursued new careers as disparate as nursing and graphic design. Those with their own children face the same uncertainties around school and child care as their employers, so they can’t commit to the long days that many working families require. Still others are visiting their families overseas. “My hope is that they’re traveling for the summer,” Hochhauser said, and will return in the fall.

Move fast To improve their chances of finding help, Hochhauser said, she tells families to move fast and raise their salary offers.

“I have four nannies right now who are looking for jobs,” she said. “They are each interviewing with 14 families. They can choose whatever they want, if one family seems nicer or is offering $35 an hour.” Hochhauser has offered $500 bonuses to current workers for referrals, and she is looking to recruit potential nannies whenever she can. Because her business depends on her reputation and relationship with clients, she said, she is unwilling to lower the standards for an applicant. Previously, she guaranteed clients that if a nanny did not work out after three months, she would find a replacement. She no longer makes that guarantee. ■ AUGUST 9, 2021 | CRAIN’S NEW YORK BUSINESS | 3

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IN THE MARKETS

New England bank bets big on metro area by striking a $3.5 billion merger Citizens Financial Group moves in as city economy shows continued improvement

here’s a new kid on the block in the competitive world of banking. Rhode Island–based Citizens Financial Group recently agreed to buy Investors Bank in New Jersey for $3.5 billion, two months after snapping up HSBC’s New York branches. “With the completion of these two deals, Citizens becomes a meaningful competitor in the New York City market,” Citizens CEO Bruce Van Saun said. The Ocean State bank is now a

There’s still plenty of cause for to improve. More supporting data came concern, however. Although offices are somewhat less empty, when the New York state only 24% of workers are in comptroller’s office rethem, based on fob and ported that city sales-tax card swipes, according to revenue grew by 45% in a report from the city the second quarter, the comptroller’s office. Subfirst increase since way traffic remains Covid-19 hit. Collections depressed, and Midtown remain below preis still sadly subdued, pandemic levels, however. with no Broadway shows Another hopeful piece yet. of news arrived when one AARON ELSTEIN asNonetheless, the perof the city’s leading lendformance of banks most ers to apartment landlords, New York exposed to real estate and small Community Ban- business would indicate the outcorp, reported a look for the economy is good. 60% drop in loan deferrals. Loans Book value that pay interest but A year ago New York Community not principal have Bancorp traded for just 60% of its fallen to $1 billion book value, or net worth, and befrom as high as $8.5 billion. came the unwanted center of the “We expect to see notable im- New York “fear trade” because inprovement in 2021,” New York vestors reckoned it would be Community CEO Tom Cangemi swamped with defaults. The bank said on a conference call. now trades for 90% of its book value

VAN SAUN

major player in Boston and Philadelphia—and committing more than $4 billion to gain admission to the Big Apple is a big bet New York’s economic vital signs will continue

BLOOMBERG

CITY SALES-TAX REVENUE GREW BY 45% IN Q2, THE FIRST JUMP SINCE COVID HIT

after its stock price rose by 9% on a recent Wednesday. Citizens Financial agreed to pay 125% of Investors Bank’s book val-

ue after acquiring the neglected HSBC franchise for a song. “It’s a great one-two punch,” Van Saun said. ■

VACCINE

and for children not yet eligible for a vaccine, though not every private business has made such allowances.

promised to work with businesses on the details of implementation. The initiative comes with no guarantee that life will stay unrestricted, however. City Hall would say only that its vaccine mandate— the first of its kind in the country— is a “very determined effort to never get back to that kind of thing again.” The city declined to provide a metric for case counts, hospital admissions, Covid-19 deaths or vaccination coverage that would allow leaders to call the end of the pandemic and dissolve the specter of future restrictions. In fact, de Blasio said the opposite: He will consider additional actions if the current mandates do not spur the desired increase in vaccinations.

Path to recovery

BUCK ENNIS

FROM PAGE 1

Leading the way New York City so far is nearly alone in making such a mandate, although city businesses, universities around the country and some health care systems have done so. Some California cities, as well as Richmond, Va., have said they are considering such a move. France enacted a similar rule in mid-July, and though daily vaccinations did edge up, social division also followed, with hundreds of thousands of protesters in the streets. Other European countries have more modest mandates, such as for large events. Some New York businesses have added mandates on their own, including the Durst Organization and The Related Cos. In finance, BlackRock and Morgan Stanley are requiring proof of vaccination for

those who want to be in the office. Broadway already had announced that customers and workers would need to be vaccinated before the mayor declared the city’s requirement.

tion—whether it be a mask mandate, stay-at-home orders or a high vaccination percentage—has changed the impact of the virus. Currently about 72% of New York City’s adults have received at least one vaccine dose. Cases now are about nine times higher than they were during the low point in midJune. But there are fewer than 40 confirmed cases in city hospitals at the moment, and the seven-day average of daily coronavirus deaths has been below 10 since late May. Business leaders are cautiously celebrating the mandate as a way to guarantee the city can reopen and

“IF THE MAYOR REQUIRES IT, THEN A CRITICAL MASS WILL BE REACHED FASTER” Kim Janey, acting mayor of Boston, said her city will not follow suit, deeming the mandate discriminatory and hard to enforce. Several states have prohibited vaccine mandates, and it is so far unclear from looking at state-by-state comparisons how any existing interven-

continue its march toward normalcy, while allowing that it might cause some short-term problems for individual businesses. The mandate does give some cover to private businesses that were considering vaccine requirements for their employees and customers. “If a critical mass of employers requires vaccination, then more people will be comfortable going to the office, and more companies would fall in line with that measure,” said Barbara Denham, an economist at Oxford Economics who studies the city. “If the mayor requires it, then a critical mass will be reached faster, and employers won’t feel like the bad guy or gal.” The city mandate leaves room for religious and medical exemptions

Some restaurant owners worry about the burden of having to police customers for vaccine compliance at a time when they’re already short on help, said Andrew Rigie of the New York City Hospitality Alliance, who added that he believes such a mandate is important for public health. Several managers and chefs said they expected to lose a handful of employees to a vaccine requirement. David Burke, who owns a number of restaurants, including the David Burke Tavern, said he hopes he will be able to replace lost staff in September, when the extra unemployment benefit is scheduled to end. The Five-Borough Chamber Alliance, speaking for small businesses throughout the city, acknowledged in a statement that companies in areas with low vaccination rates might struggle but agreed the mandate was “worthy of support for protecting public health and keeping the city on the path to full economic recovery.” At Pedal House, a cycling studio in the Flatiron District, owner Joey Foley imposed a vaccine mandate in the spring. The result, he said, has been ideal. Clients who were hesitant got vaccinated and came back, he said. In class now, he said, bikes are closer together, instructors shout inspiration and riders breathe and sweat in close proximity, just as they always did in intensive group fitness classes. “It’s like nothing happened,” Foley said. ■

4 | CRAIN’S NEW YORK BUSINESS | AUGUST 9, 2021

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HEALTH CARE

How did state Health Department spend $913M in Covid contracts? Here are the big beneficiaries BY MAYA KAUFMAN AND AMANDA GLODOWSKI

f the roughly $913 million in contracts the state Department of Health has awarded for services to help it fight the Covid-19 pandemic, just over half is going to only three companies, a Crain’s analysis has found. ProLink Healthcare, BioReference Laboratories and Essey LLC are the largest beneficiaries of the department’s spending on pandemic-related services, such as staffing and testing, reaping more than $462 million in contracts altogether, according to a Crain’s analysis of contract data from the state comptroller’s office since March 2020. The state has so far paid the topfive contract recipients—which also include health-services company Maximus and employment agency ExecuSearch—about $174 million total out of the $912 million it has agreed to pay them, according to the state comptroller’s office. ProLink, a temporary-staffing agency based in Cincinnati, received two contracts worth more than $191 million combined. The

company did not respond to requests for comment as of publication time. BioReference, a subsidiary of publicly traded OPKO Health, based in Elmwood Park, N.J., received contracts worth more than $165 million from the Health Department for diagnostic and antibody testing. Company spokeswoman Hillary Titus declined to disclose details on the figures or make an executive available for an interview. Financial filings suggest the state contracts were a boon to BioReference and OPKO Health, which swung to a profit in the second quarter of 2020 thanks to BioReference’s Covid-19 testing business, including the three contracts with the Health Department. OPKO’s diagnostics division saw $40.9 million in operating income on $251 million in revenue during the second quarter of 2020, compared with a loss of $28 million during the same period in 2019. “BioReference’s Covid-19 testing volume has positively impacted our profitability, but we had, until recently, incurred losses since our inception,” OPKO wrote in its 2020 annual report to the U.S. Securities

and Exchange Commission. The Health Department has paid BioReference $16 million of the contracted amount to date, according to the state comptroller’s office. Its services have included the operation of drive-through testing sites, antibody testing for first responders and essential workers, rapid testing sites in New York City and a mobile testing center in Westchester County.

LARGEST COVID-19 CONTRACTS FROM THE DEPARTMENT OF HEALTH Top five contracts awarded since March 2020 200 150

$106M $64.9M

50 0

$173.7M ProLink Healthcare

$149.4M BioReference Laboratories

$41.1M Essey LLC

Paid to date

Total

$75.6M $20.3M

$74.84M $55.8M

$55.3M Maximus

$19.1M ExecuSearch

SOURCE: State comptroller’s office. Data as of July 22.

Staffing Association, a trade group that TemPositions helped found. The consortium supplied 4,500 workers across 28 vaccination sites at the height of its operations, Essey said. A number of those sites have since closed. The Health Department has so far paid TemPositions’ consortium nearly $66 million of its contracted amount. “TemPositions and the New York Staffing Association have been honored to be able to work together in this unique public-private partnership to ensure the proper staffing of the vaccination sites while

HUSBANDS WIVES FATHERS MOTHERS GRANDFATHERS UNCLES AUNTS GRANDMOTHERS NEIGHBORS FRIENDS PARENTS COUSINS GRANDCHILDREN SONS WE TREAT THE MOST HEARTS IN NEW YORK DAUGHTERS MAMAS SISTERS NIECES AMIGOS NEPHEWS BROTHERS PARTNERS ABUELOS IN-LAWS COLLEAGUES SIBLINGS NEIGHBORS PAPAS

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Amount left to spend

$165.2M $15.8M

100

Staffing costs The Health Department awarded one of its largest contracts—$106 million—in January to Essey LLC, an entity set up by Murray Hill– based employment agency TemPositions to disburse funds to a wider net of staffing companies, CEO James Essey said. Essey said the Health Department reached out to TemPositions in December for help finding about 4,000 staffers to vaccinate New Yorkers. The department had worked with TemPositions to provide nurses for the Javits Center’s temporary hospital. Under what Essey described as a blanket contract, TemPositions assembled a consortium of 35 staffing firms that belong to the New York

$191.3M $17.6M

offering employment opportunities, especially in the nonclinical areas, to individuals who had little other work opportunities available,” Essey said. Department of Health spokesman Jeffrey Hammond said the five companies’ contracts pertained to Covid-19 testing and vaccinations and were selected under Gov. Andrew Cuomo’s executive order. They were not subject to a preaudit, which means the state comptroller did not have to approve them beforehand. Hammond declined to disclose additional details about the contracts. ■

Every day, roughly 120 New Yorkers die from potentially preventable heart disease. They're our friends, our loved ones, our neighbors. So get your heart checked. Or nudge someone you care about. Because while we may fix more hearts than anyone in New York, we'd like to get that number down. When we raise heart health, we raise everyone. Be a Health Raiser at RaiseHealth.com/Heart

AUGUST 9, 2021 | CRAIN’S NEW YORK BUSINESS | 5

8/6/21 3:36 PM

RESIDENTIAL SPOTLIGHT

J.C. Flowers: Lucky on Wall Street, unlucky in real estate... so far at least $24M BY C. J. HUGHES

n investment manager who made billions investing in banks but has stumbled with some real estate deals is taking another stab at selling a home. J. Christopher Flowers, the founder of J.C. Flowers and Co., listed his full-floor prewar apartment, No. 2 at 640 Park Ave., for $24 million this month. If sold at that price, the six-bedroom, six-and-a-half-bath co-op, which has 10-foot ceilings, six fireplaces and a private elevator, would represent a profit for Flowers, who paid $20 million for the unit in 2012. But the market has softened for trophy apartments, and Flowers has struggled before. He sold his

AMOUNT FLOWERS is asking for the prewar Park Avenue apartment.

640 PARK AVE., built in 1896, has housed many corporate bigwigs.

ness VIPs. From 1940 to 1956, for example, it was owned by Thomas J. Watson, the founder of IBM. But Flowers’ current address at 640 Park Ave. can claim several corporate bigwigs too.

Good neighbors The 12-story building, which has one apartment per floor, is the residence of Dick Fuld, the former chair of collapsed bank Lehman Brothers; Mickey Drexler, the fashion executive who was J.Crew’s former CEO; and Stanley Cayre, whose family real estate firm, Midtown Equities, is an owner of Dumbo’s Empire Stores, records show. Buyers at the coop, which was designed by designer J.E.R. Carpenter, can finance only 35% of a purchase. So whoever picks up Flowers’ digs will need to have $16 million on hand, at least. Sotheby's broker Serena Boardman, who's associated with the listing, declined to comment. Flowers, an applied math major at

previous residence at 4 E. 75th St., a 50-foot-wide Beaux-Arts limestone near Fifth Avenue, for $36.5 million in 2011. He had paid $53 million for it five years earlier—a more than 30% loss. That home, completed in 1896, had a lineage studded with busi-

SOTHEBYS INTERNATIONAL REALTY

“WE SEEK TO EXIT OUR INVESTMENTS AFTER THEIR VALUE HAS BEEN OPTIMIZED”

Harvard who once worked at Goldman Sachs as its youngest partner, did not return a call left with his firm.

But the investor, who counts CIT Group, Shinsei Bank and Hypo Real Estate among his holdings, prides himself on timing, accord-

ing to his firm’s website. “We seek to exit our investments,” it says, “after determining that value has been optimized.” ■

REAL ESTATE

Manhattan’s office availability hits 17.1% as subleasing increases, average rents drop

glut of Manhattan office subleases in July marks a dramatic change in the market after months of reduced availability, creating downward pressure on the market. The amount of sublease space available for rent has increased by 360,000 square feet, to 21 million square feet, nearly 78% more space than was on the market in March

ready-hurting market in the short term, Collier’s research director, Frank Wallach, said, it is what Manhattan needs to stay competitive down the road. “This new supply, believe it or not, is critical in Manhattan’s recovery,” Wallach said. “We need new inventory to attract and maintain tenants. Half of Manhattan’s inventory is prewar.” He noted the influx of tenants to newly built projects and neighborhoods in recent years, such as media companies moving to the World Trade Center after Condé Nast established an office there and tech and financial services firms relocating to Hudson Yards. They’re interested in the advanced technology of new buildings, including updated elevators, contactless experiences and well-designed office space, he said. The 25 million-square-foot figure is the largest amount of space

“THIS NEW SUPPLY, BELIEVE IT OR NOT, IS CRITICAL IN MANHATTAN’S RECOVERY” 2020, a Collier's report said. The borough’s total office availability rate is also back up, to a record 17.1%. By 2024, more than 25 million square feet of new or redeveloped office space will come online, according to the data. Although the supply of new offices can challenge the al-

to be delivered in a three-year period since the 1980s, but some of it has already been spoken for, Wallach said, including Brookfield’s 2 Manhattan West and Tishman Speyer’s 66 Hudson Blvd. The actual amount available when those projects are completed might be smaller. “It’s just a question of whether that activity will continue,” Wallach said.

Dropping rents Leasing activity grew again last month. It reached its highest level since July 2020, at nearly 2.4 million square feet, but that wasn’t enough to start pushing rents back up. Prices have dropped to an average of $72.72 per square foot, the lowest rents since 2017 and about 8.5% lower than in March last year. The largest lease recorded last month was a nearly 400,000-square-foot deal by law firm Fried Frank to renew its Financial District offices at 1 New York Plaza. The city also renewed its 313,000-square-foot lease at 60 Broad St.

ISTOCK

BY NATALIE SACHMECHI

The downtown sublease market continued to report the highest availability rate: 18.3%. Midtown reported 17.5%, and Midtown South came in below average, at 16.1%.

“We’re still at a point right now where Manhattan leasing is beginning to pick up,” Wallach said, “but it’s still about 35% below the prepandemic monthly average.” ■

6 | CRAIN’S NEW YORK BUSINESS | AUGUST 9, 2021

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POLITICS

Who is Kathy Hochul? BY BRIAN PASCUS

L REAL ESTATE

More Wegmans locations coming to Manhattan BY EDDIE SMALL

anhattan’s first Wegmans almost certainly will not be its last. The grocery chain, known for its cultlike following, is expected to take up more space in the borough, Vornado Realty Trust Chairman Steven Roth said last Tuesday during the company’s second-quarter earnings call. “You can bet that we will do several more Manhattan deals with Wegmans,” Roth said. The New York real estate giant recently announced that it had inked a deal with the popular supermarket for a 30-year, 82,000-squarefoot lease at 770 Broadway, the former site of the Astor Place Kmart. Roth struck an optimistic stance on New York overall during the call, emphatically stating that the worst of the Covid-19 pandemic was be-

cording to its earnings report. Roth mentioned one unnamed Fortune 100 company that he said is looking for more space for the same number of employees than it was earlier as evidence that the pandemic has not destroyed demand for offices. Although employees have resisted calls to return to their office so far, Roth said he ultimately would bet on their employers getting them back more regularly. “Folks are out in the Hamptons, getting full pay and enjoying it,” he said. “That’s not going to continue for more than another quarter or two or three. At some point, the people who pay their paychecks are going to insist that their gang, their team, their thinkers, their creators are back in the office.”

doubt. An independent investigation into sexual harassment allegations against the governor concluded last Tuesday that he broke the law and sexually harassed staff members and other state employees for several years. Hochul is next in line to assume the chief executive’s seat in Albany in the event Cuomo resigns or is impeached by Democratic majorities in the Assembly and state Senate. She would be New York’s first female governor. The 62-year-old mother of two is a former Erie County clerk and a former member of Congress, where she served for 18 months in the House of Representatives, from 2011 to 2013, representing a Republican-leaning district of New York

Asking rents Large tech firms are looking for more space, and although commercial rents have dropped sharply, Roth said Vornado plans to raise its asking rents in the Penn District, where it is working on several major office projects. “Everything in New York is going to thrive,” he said, “except for the really crap buildings, and there are plenty of them.” Vornado leased 322,000 square feet of office space and 18,000 square feet of retail space in New York during the second quarter, ac-

versity and earned a juris doctor degree from Catholic University in Washington, D.C. After practicing as an attorney for politicians, she served on the Hamburg Town Board from 1994 until 2007, before being appointed Erie County clerk by then-governor Eliot Spitzer. After winning a special election for the vacant congressional seat in the 26th District, she became the district’s first Democratic representative in 40 years. She lost a close re-election campaign to Republican Chris Collins in 2012. During her time in Albany, she has led different regional economic development councils, managed a task force on opioid and heroin abuse, and conducted surveys on the health of small businesses

“I BELIEVE THESE BRAVE WOMEN AND ADMIRE THEIR COURAGE COMING FORWARD” that includes her hometown of Buffalo. She assumed office as Cuomo’s lieutenant governor in 2015, following the departure of her predecessor, Robert Duffy. Hochul attended Syracuse Uni-

across the state.

Her words Hochul issued the following statement in response to the Cuomo investigation and the prospect she could take over as governor: “Sexual harassment is unacceptable in any workplace, and certainly not in public service. The attorney general’s investigation has documented repulsive and unlawful behavior by the governor towards multiple women. I believe these brave women and admire their courage coming forward. No one is above the law. Under the New York Constitution, the Assembly will now determine the next steps. Because lieutenant governors stand next in the line of succession, it would not be appropriate to comment further on the process at this moment." ■

Vaccination During the call, Roth stressed the importance of getting vaccinated but declined to specify what Vornado’s policy for its employees will be. Several companies and organizations have announced their vaccine policies in recent weeks, including real estate giants the Durst Organization and The Related Cos., which both said that, with minimal exceptions, employees who do not get vaccinated will be fired. “I think that’s a very complicated question, which goes to both law and ethics,” Roth said of companies requiring vaccines for employees. “Basically, the extension of that is, if you’re not vaccinated, you’re fired. Now that’s a very interesting situation.” “I really don’t want to get into what our policy will be with respect to our important employees, whom we cherish, or what the market is going to do,” he continued. ■

ENGINEERS

“YOU CAN BET WE WILL DO SEVERAL MORE MANHATTAN DEALS WITH WEGMANS” hind the city and that its real estate market will only improve going forward.

HOCHUL

AP PHOTO

BLOOMBERG

t. Gov. Kathy Hochul might emerge from anonymity now that Gov. Andrew Cuomo’s political future is in

MAKE DAILY LIFE POSSIBLE ONE INNOVATION AT A TIME

he work of engineers means sustainable energy, efficient buildings, clean water, and reliable transportation for all New Yorkers. This work is often unseen, but it is important to acknowledge and appreciate these innovations. For the last 100 years, the American Council of Engineering Companies of New York has proudly provided business services, advocacy, networking opportunities and education to engineering firms throughout New York State. We are dedicated to supporting the professionals that make daily life possible, and we are proud to be leaders in the business of engineering, now and for the next century.

W W W . AC E C N Y. O R G AUGUST 9, 2021 | CRAIN’S NEW YORK BUSINESS | 7

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chief executive officer K.C. Crain senior executive vice president Chris Crain group publisher Jim Kirk

EDITORIAL

publisher/executive editor

Cuomo must resign

matter how powerful—can be allowed to harass women or violate our human rights laws, period.” With 179 witnesses, the governor can’t downplay the matter as a “he said, she said” situation. He has violated the trust of New Yorkers and must resign immediately. As the state rebounds from the Covid-19 pandemic, a strong, respected leader is needed at the helm. How can voters and business leaders take Cuomo seriously when he has behaved in such a disrespectful, disgusting way toward women on his staff— the women of New York? How can New Yorkers believe that he has our best interests at heart in his decision-making when his own personal decisions are based on using his power to intimidate women and putting his desires first? Cuomo has disgraced his office, and in New York, a place often viewed as forward-thinking in advancing the rights of women, he has disgraced the state. His tone-deaf news conference, in

he results of the independent investigation by the state attorney general’s office into allegations of sexual harassment by Gov. Andrew Cuomo are sickening and sad. The investigation concluded Cuomo harassed former and current state employees from 2013 to last year. The governor engaged in unwanted kissing, groping and hugging, and he fostered a “toxic workplace” at his office in Albany, the inquiry found. Attorney General Letitia James said the findings were supported by interviews with 179 witnesses

Frederick P. Gabriel Jr. EDITORIAL editor-in-chief Cory Schouten assistant managing editors Telisha Bryan,

Janon Fisher deputy digital editor, audience & analytics

Jennifer Samuels associate editor Lizeth Beltran art director Carolyn McClain photographer Buck Ennis data editor Amanda Glodowski senior reporters Cara Eisenpress,

Aaron Elstein, Eddie Small reporters Ryan Deffenbaugh, Maya Kaufman,

Brian Pascus, Natalie Sachmechi, Shuan Sim executive assistant Brittany Brown to contact the newsroom:

www.crainsnewyork.com/staff 212.210.0100 685 Third Ave., New York, NY 10017-4024

“NO MAN—NO MATTER HOW POWERFUL—CAN BE ALLOWED TO HARASS WOMEN” and a review of tens of thousands of documents. She characterized the conclusions by investigators as “a sad day for New York” and added that Cuomo broke the law. “I am grateful to all the women who came forward to tell their stories in painstaking detail, enabling investigators to get to the truth,” James said. “No man—no

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Laura Warren

which he played a slideshow of him touching people's faces as he explained, “I do it with everyone,” did nothing to make things right with the women he harassed and the constituents he let down. Momentum is building within the state government, his own party, influential professional organizations such as the Real Estate Board of New York and the New York

State Nurses Association as well as among New Yorkers in general to acknowledge that Cuomo’s actions were unacceptable and it’s time for him to step aside or face impeachment. The governor must do the right thing and resign so that New York can continue its progress—and leave those backward, “boys will be boys” antics in the past. ■

people on the move manager Debora Stein,

dstein@crain.com CUSTOM CONTENT senior manager, custom content

Sophia Juarez, sophia.juarez@crainsnewyork.com EVENTS

www.crainsnewyork.com/events Managing Director, Marketing and Events

Jill Heise, jill.heise@crain.com marketing manager Jessica Botos,

OP-ED

jessica.botos@crainsnewyork.com

Ulster County’s UBI experiment proves at least one thing: tremendous need BY PAT RYAN

When many think of Ulster, especially those in the five boroughs, the first places that come to mind are the increasingly popular communities of New Paltz, Woodstock and Kingston. But the flip side of our area’s growing desirability has been an increase of significant income inequality— and a growing housing affordability crisis.

AP PHOTO

t’s been two months since Ulster County began what was, at the county level at least, a firstin-the-nation experiment: providing direct cash relief to our residents—$500 per month for 12 months. The response has been both heartbreaking and encouraging; and now with the program fully up and running, some fascinating patterns are starting to emerge. These patterns offer valuable insights to government officials around the state or even around the country who may be considering such a program. Our initial findings are encouraging. Folks are not sitting on this money—they are spending it in the local economy. And there are early signs that they are using the funds for things that many of us take for granted. Medical expenses have been a recurring theme—many recipients had put off critical care because of rising costs and insurance deductibles. Other recipients include a recent graduate finally able to get ahead on his student loans, a sin-

account executives Kelly Maier,

Courtney McCombs, Christine Rozmanich,

gle mother looking to be a firsttime homebuyer, a homeless man able to leave the hotel where he’s been living. One of the most gut-wrenching takeaways is how overwhelming the need is. I announced our universal basic income initiative during my annual State of the County address, and within 48 hours, we had received more than 1,500 applications. One woman watching on Facebook commented in real-time, “As a disabled single parent that would be life-changing.” By the time applications closed, more than 4,200 residents had applied for 100 slots. That’s in a county of 180,000.

Dollar diplomacy When we notified those who were selected for the UBI program, one participant burst into tears of joy; many excitedly shared their plans to spend the funds; a few even refused to participate because it just seemed too good to be true. These honest, unfiltered reactions highlighted to us the tremendous financial pressures faced by so many of our residents, especially coming out of the pandemic. These applicants came from every corner of the county, no matter their political leanings. Conservatives, progressives and those in between—people from every back-

ground wanted to participate in the program. Program funds came entirely from community and philanthropic donations, and a local bank is administering them. Participants were interviewed about how they planned to use the money, and have provided regular updates. In addition, a control group of 100 who applied but did not receive the funds was selected, so we could compare spending choices and priorities. Many of our residents have had tremendous financial weights piled on their shoulders for years and years—rising housing costs, impossible-to-pay insurance premiums, growing student debt. All the while wages have remained stagnant or even declined in real terms. Then Covid-19 came and piled on even more weight. But if we can start to relieve this weight, ease the pressure and create even a little breathing room, I believe we will be incredibly proud of how people will rise to the occasion. ■

manager of conferences & events

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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 2021 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 chief executive officer 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]

Pat Ryan was elected Ulster County executive in 2019.

8 | CRAIN’S NEW YORK BUSINESS | AUGUST 9, 2021

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OP-ED

BY PETER JACKSON

n the past year, the prospect of hybrid work has erupted onto the global stage, and the city has become its epicenter. Hybrid work has evolved from a fringe idea into a trending topic seemingly in the blink of an eye. For a while it seemed that hybrid work might finally be accepted as a new normal. Yet today, as the pandemic appears to be receding and return-towork strategies take shape, many of the CEOs who were outwardly supportive of hybrid work are now silent. Others, such as Morgan Stanley CEO James Gorman, are

Make no mistake, however, I would support the hybrid transition whether I were in this business or not. Truthfully, overlooking or even criticizing remote work is not just wrong; it’s irresponsible—particularly in light of a recent Accenture study in which 83% of respondents stated they’re partial to a hybrid mode of work.

False narrative With that in mind, here are three important insights for business leaders looking to incorporate hybrid work into their existing business practices. First, eliminate bias and promote flexibility. As business leaders start crafting return-to-work strategies, many are perpetuating a false narrative that remote workers are lazy. In reality it’s quite the opposite. In fact, it’s estimated that remote workers will lift U.S. productivity by 5% post-pandemic, with many finding it easier to work remotely. In addition, business leaders should place inclusivity at the center of their business, reducing feelings of loneliness and anxiety. I

BUSINESS LEADERS SHOULD PLACE INCLUSIVITY AT THE CENTER OF THEIR BUSINESS not. “If you can go to a restaurant in New York City,” Gorman declared, “you can come into the office.” He has a point, but it’s not the only point. In the interest of full transparency, I am the CEO of a company that encourages remote work. I have a vested interest here.

recognize the criticism that hybrid work can feel isolating to some. In fact, in the past year much has been said about the increasing prevalence of loneliness in working professionals today—with an estimated 69% of them stating that they would feel out of the loop working remotely with the rest of the team in the office. That said, however, it’s important to note that the pandemic has merely exacerbated a crisis that has long been bubbling under the surface—leaving business leaders to wonder whether remote work is helping or hurting the cause. It’s clear that the loneliness crisis will persist with or without telecommuting. By making a concerted effort to promote inclusivity within their organizations, business leaders can combat this eventuality and support mental wellness for years to come.

Less is more Lastly, it’s important to remember that collaboration tools can bridge the digital divide in hybrid workspaces—but they also can

BLOOMBERG

Hybrid work is here to stay, so businesses should be flexible and collaborative

widen them. For business leaders wary about hybrid working environments, it’s important to remember that less is more. As we’ve seen in the past year, exhaustive virtual communication tools often can hinder as much as they can help, creating anxiety, stress and perhaps, most important, “Zoom fatigue.” By strategically integrating the right hybrid working tools into their teams’ day-to-day efforts,

leaders can lay the groundwork for virtual workspaces that will prove to skeptics everywhere that the days of the desk are behind us. I don’t know what the future holds, but as we begin envisioning life in a post-pandemic world, one thing is certain: The hybrid dream should be the new reality. ■ Peter Jackson is the CEO of Bluescape, a collaborative workspace software company.

OP-ED

BY KELLY IFILL

uring the past few years, we have seen a change in tone—a broader acknowledgment that across society, perhaps the playing field isn’t even and never has been. Our “Disney-fied” version of history and the American “pull yourself up by your bootstraps” narrative have long ignored the cascading effects of slavery, systemic racism and marginalization that are still pervasive and harm Black and brown communities and businesses. Prepandemic, the median net

Coming (hopefully) out of the Covid-19 pandemic, we are seeing a surge of investment, innovation and entrepreneurship—and we need to ensure that Black enterprises are at the center of this new era of wealth creation. Here’s how to make that happen.

NETWORKS You would be hard-pressed to find a successful entrepreneur who went it alone from day one. Networks and access to the right set of advisory services are critical for small-business owners to succeed. Participation in the greater economic ecosystem and having access to quality services and advisers are essential to inclusive growth. Black and brown business owners need the network and tools to launch a business, then grow and sustain it through all market cycles.

BLACK AND BROWN COMMUNITIES NEED ACCESS TO FAIR CAPITAL worth of Black households was $24,000, compared with $189,000 for white households. That gap perpetuates the cycle, placing financial strain on Black families and making long-term wealth creation an impossibility for many. Black-owned businesses and other minority-owned enterprises need the networks, liquidity and capital that for years white-owned businesses have enjoyed.

BANKING Black and brown communities need access to fair capital—not predatory products disguised as such. For companies generating less than $10 million in revenue, the process is arduous and opaque. Community banks often have been the only options for businesses

wanting to scale, and resources can be limited. Commercial banks often require a minimum revenue threshold, leaving a huge resource gap. In our digital-first economy, small businesses need platform access to hundreds of lenders that can quickly and efficiently compete for their business. Te c h n o l o g y should help automate and speed up the process, allowing for faster access to cash when a business needs to grow or stabilize. According to a study by H&R Block, a majority of Black-owned businesses experienced at least a 50% decrease in revenue during the pandemic, compared with 37% for white-owned businesses. A wider access pool is critical to democratizing lending.

CAPITAL Small businesses are the backbone of the economy and for generations have been a differentiator in building wealth. Black-owned

ISTOCK

Hard-earned lessons for Black-owned businesses

businesses need access to the same pool of lenders and fast capital that white-owned businesses have enjoyed for decades. While Black-owned businesses are playing catchup, there are limitless possibilities for growth once capitalized. As one example, 2020 was a record year for venture capital investments, and yet most of that money went to further bolster the tight-knit community of the well connected and well financed. A little more than 3% of overall deal volume last year went to

Black-founded companies. To set Black businesses on a true growth trajectory, this needs to change. Looking at the hard-learned lessons of the past two years, we’re not striving for a return to normal but a return to something better. Now is the time for a multifaceted approach—from activism to education to financing—to build a more just and equal future. ■ Kelly Ifill is the chief executive of Guava, a full-service, digital-first banking institution.

AUGUST 9, 2021 | CRAIN’S NEW YORK BUSINESS | 9

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PEOPLE ON THE MOVE

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

ACCOUNTING

CONSULTING

EDUCATION

FINANCIAL SERVICES

PROFESSIONAL SERVICES

The Bonadio Group

Riveron

SVB Leerink

Crowe LLP

Ethan Kahn has joined The Bonadio Group as Partner and Healthcare/ Tax Exempt Practice Leader in the NYC Office. Kahn brings two decades of experience delivering audit, accounting, tax, and consulting services to organizations in the not-for-profit, government-funded and healthcare sectors. He trains nonprofit groups at various forums including the NYC Mayor’s office, NYC BAR Association and AICPA. Kahn is Chairman of the Annual NYSSCPA Exempt Organizations Conference for the 11th recurring year.

Adam Safir joins Riveron as a managing director with tenured experience transforming public safety outcomes by assessing needs and guiding implementations. His background spans criminal justice and risk mitigation solutions for governments, communities, and developers. Adam’s expertise in multidisciplinary and accountable approaches help stakeholders protect lives, safeguard assets, and ensure continuous operations by leveraging metrics, workforce development, and technology-enabled processes.

New York Institute of Technology

SVB Leerink, a leading investment bank specializing in healthcare and life sciences, announced that Howard Dingle has joined the firm’s Healthcare Services practice to enhance its distribution, technology, and related services offerings. Mr. Dingle joins SVB Leerink as a Managing Director reporting to Global Co-Head of Healthcare Investment Banking, Barry Blake. He will be based in the New York office.

Steve Chanyi, CPA, was recently promoted to partner in advisory services at Crowe LLP, a public accounting, consulting, and technology firm. He has been with the firm for over 16 years. Chanyi specializes in transaction services, leading the west coast market. He received his Honours Bachelor of Business Administration in Finance from Wilfrid Laurier University, Waterloo, Ontario, Canada. He is a member of the AICPA, the NYSSCPA, the CPA Canada, and the CPA Ontario.

EDUCATION

FINANCIAL SERVICES

PROFESSIONAL SERVICES

New York Institute of Technology

SVB Leerink

Crowe LLP

SVB Leerink, a leading investment bank specializing in healthcare and life sciences, announced that Jon Swope has joined the firm as a Managing Director to continue to strengthen longitudinal relationships with companies across HealthTech and Digital Health. Mr. Swope’s hire reinforces the firm’s commitment to the high growth HealthTech sector. Mr. Swope will be based in SVB Leerink’s New York office and will report to Barry Blake, Global Co-Head of Healthcare Investment Banking.

Susan McGrath, CPA, was recently promoted to partner in tax services at Crowe LLP, a public accounting, consulting, and technology firm. She has been with the firm for over three years. McGrath specializes in providing tax consulting and compliance services to clients in the financial services industry. She received her bachelor of science in business administration from Drexel University. She is a member of the AICPA, NYSSCPA, and the PICPA.

New York Institute of Technology College of Osteopathic Medicine (NYITCOM) Associate Professor of Biomedical Sciences Charles Pavia, Ph.D. has been promoted to full professor. Based in Long Island, NYITCOM prepares physicians for a lifetime of learning and practice through the integration of evidenced-based knowledge, critical thinking, and the tenets of osteopathic principles and practices. Graduates are respected primary care physicians, specialists, researchers, policy leaders, and more.

ACCOUNTING

Withum Brian Murphy has joined the New York office of Withum as a Principal in the Private Equity Practice leveraging his experience in this space. Brian is a highly collaborative leader with more than 20 years of demonstrated success building teams, strategies, and effective partnerships. He will be responsible for expanding Withum’s presence in the private equity and growth capital markets in the New York metro area.

COMMERCIAL REAL ESTATE

Unispace Unispace, a global leader in workspace strategy, design and construction, is expanding their Americas Client Schifferle Engagement team to support their rapid growth and drive new and exciting future initiatives. Joining Unispace are industry veterans, Nicholas Stein Schifferle, Principal, Enterprise Client Engagement and Jim Stein, Principal, Client Engagement. They bring their diverse knowledge and expertise in the commercial real estate, design and construction industries to deliver end-to-end solutions to clients, and help global brands meet the pace of change. Each will play a vital role in capturing new markets and empowering modern businesses with their passion for workplace creation.

ENGINEERING

STV Marcos Díaz González has joined STV as executive vice president, responsible for the firm’s advisory services and the expansion of its program management capabilities. Díaz González brings nearly 25 years of experience as a project executive, program manager, and business development executive across multiple market areas. He serves as an executive board member of ACE Mentor Program of Greater New York and is currently an adjunct professor at Columbia University’s Engineering School.

Two New York Institute of Technology College of Osteopathic Medicine (NYITCOM) Hoffmann Assistant Professors of Anatomy have been promoted to associate professor: Simone Hoffmann, Ph.D. and Nathan Thompson, Ph.D. Thompson For more than 40 years, NYITCOM has been committed to training physicians for a lifetime of learning and practice through the integration of evidenced-based knowledge, critical thinking, and the tenets of osteopathic principles and practices. Our graduates are respected primary care physicians, specialists, researchers, policy leaders, and academic faculty practicing in New York and Arkansas, where our two campuses are located, and around the world. Visit nyit.edu/medicine.

HEALTHCARE TECHNOLOGY

Nevvon

INDUSTRY ACHIEVERS ADVANCING THEIR CAREERS Recognize them in Crain’s

For listing opportunities, contact Debora Stein at dstein@crain.com or submit directly to

CRAINSNEWYORK.COM/PEOPLEMOVES

Allan Levine, MBA joined Nevvon in August 2021 as SVP of Revenue and Growth. In his role, Levine’s primary responsibility is revenue maximization efforts for all revenue streams of Nevvon, through growth and partnerships. James Cohen, CEO of Nevvon said, “We are excited to leverage Allan’s curiosity, imagination and authenticity during the phase of rapid growth at our company.” Allan earned his MBA from Northwestern University Kellogg School of Management.

10 | CRAIN’S NEW YORK BUSINESS | AUGUST 9, 2021

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ASKED & ANSWERED WHO HE IS New York City public advocate

INTERVIEW BY EDDIE SMALL

AGE 45

umaane Williams has been the city’s public advocate since early 2019, when he beat out 16 other candidates for the position in a special election. He recently helped spearhead passage of a law that will require racial equity studies to be part of the city’s rezoning process going forward, an effort to help address the fears about gentrification and displacement that have stymied many recent attempts. Williams acknowledges that the city’s landscape needs to evolve and hopes the law will help separate serious concerns from distractions.

GREW UP Starrett City, Brooklyn RESIDES Fort Hamilton, Brooklyn EDUCATION Bachelor’s in political science and master’s in urban policy administration, Brooklyn College NEWLYWED Williams just got married in mid-July in a small Dyker Heights ceremony. The reception was at the W Loft in Williamsburg.

How will the law requiring racial equity studies in rezonings affect the process?

There will always be community resistance, but the more we have tools like this one, the more we can sift through what’s just noise and what’s actually serious and needs to be addressed. People have told us that these rezonings are going to be for the betterment of the city, but, collectively, they have sped up gentrification, and they’ve been a fundamental failure.

What are your thoughts on the Gowanus and SoHo/ NoHo rezonings the city is trying to push through?

Gowanus is looking decent from what I’ve seen. I’m more concerned about SoHo/NoHo. There is definitely a lot of NIMBY pushback, and I do think that the NIMBY folks might be right for the wrong reasons. There probably is not

ACTING CHOPS Williams describes acting as his first love and takes every opportunity he can to put that skill to work. He is also excited for Broadway shows to reopen. “I have been itching to see The Lion King. We’re going to see that at some point,” he said. “I’ve only gotten to see Hamilton on Disney, but I’m not sure if we’ll get tickets for that.”

enough affordability for what the community is being asked to do. I think some people genuinely believe that, and there are probably a lot of folks who have latched onto it as a good way to push their NIMBY perspective.

What was your takeaway from the June primaries? I believe people really bought into progressive

messages. It’s hard to define what progressive means now because everybody says they’re progressive, but there’s obviously something good about the message if people want to adopt it. Regarding Eric Adams, I’ve worked with him on gun violence in particular for many years, and although I was concerned by many things said during the campaign, particularly around policing, I’m hoping the Eric Adams I’ve worked with will be the Eric Adams we see as mayor.

Why did you decide to publish a midyear analysis of your office’s worst landlords list?

We wanted to make sure that we were looking at the data and seeing what was working and what was not working. We want to make sure tenants are getting responses and want to incentivize landlords to do the right thing. Every year our phone blows up with excuses from landlords, but the best thing to do to get off the list is correct the violations. This midyear analysis doesn’t remove anyone from the list, but it does provide a snapshot of where things are.

Assuming you win in November, what do you want to achieve in your next term as public advocate?

We have to have a just, equitable recovery from the pandemic. We can’t go back to normal because normal is what got us here. We also have to make sure we don’t make the same mistakes about public safety that were made 30 years ago. The people who have the loudest voices sometimes have the same kind of rhetoric, which is, “Let’s lock up as many Black and brown people as possible.” That doesn’t have the desired effect of actually keeping people safe. ■

BUCK ENNIS

JUMAANE WILLIAMS New York City

DOSSIER

LAST CHANCE to

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1 THE LIST

LARGEST ENGINEERING FIRMS Ranked by number of New York–area engineers

BY AMANDA GLODOWSKI

AMANDA.GLODOWSKI@CRAINSNEWYORK.COM

NEW YORK–AREA ENGINEERS 2020/ 2019

WORLDWIDE ENGINEERS 2020/ 2019

2020 FIRMWIDE REVENUE (IN MILLIONS)

COMPANY/ ADDRESS

PHONE NUMBER/ WEBSITE

SENIOR EXECUTIVE(S)

WSP USA 1 Penn Plaza New York, NY 10119

212-465-5000 wsp.com

Lou Cornell Chief executive

711 797

26,676 27,058

$6,888.3

Thornton Tomasetti Inc. 120 Broadway New York, NY 10271-0016

917-661-7800 thorntontomasetti.com

Thomas Scarangello Executive chairman Peter DiMaggio Michael Squarzini Co-chief executives

348 336

1,000 980

$275.0

Architecture: 3% David Geffen Hall Renovation/ Engineering: 61% Terminal Warehouse/Wildflower Facility assessment: 31% Studios/4 Hudson Square Other: 5%

Langan 21 Penn Plaza New York, NY 10001

212-479-5400 langan.com

David Gockel President, chief executive

328 313

649 571

$323.0

Engineering: 100% Willets Point, Queens/The Spiral, 66 Hudson Blvd.

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

631-587-5060 gpinet.com

Gregory Zenk P.E. Executive vice president, metro-area branch manager

234 212

404 395

$348.2 Construction inspection: 30% Construction mgmt.: 20% Engineering: 45% Other: 5%

AECOM 605 Third Ave. New York, NY 10158

212-973-2900 aecom.com

Tom Scerbo Metro New York executive Marilisa Stigliano Operations leadership director

217 200

12,315 10,750

$13,200.0

STV 225 Park Ave. South New York, NY 10003

212-777-4400 stvinc.com

Dominick Servedio Chairman Greg Kelly P.E. President, chief executive

183 225

551 586

$566.5

HDR 500 7th Ave. New York, NY 10018

212-542-6000 hdrinc.com

Jane Charalambous New York/New Jersey area manager

162 154

Hardesty & Hanover 1501 Broadway New York, NY 10036

212-944-1150 hardestyhanover.com

Sean Bluni Chief executive

160 154

269 248

Jacobs 500 Seventh Ave. New York, NY 10018

908-646-6550 jacobs.com

Vanessa Ajdinova Division vice president, director of New York operations

154 183

12,538 11,866

Stantec Consulting Services Inc. 475 Fifth Ave. New York, NY 10017

212-366-5600 stantec.com

Tom Walsh Vice president

141 145

3,396 3,381

$3,526.8

212-594-9717 hntb.com

Stephen Dilts Senior vice president

131 137

1,200 1,200

$1,418.3

HNTB New York Engineering and Architecture 350 Fifth Ave. New York, NY 10118 Dewberry 132 W. 31st St. New York, NY 10001

212-685-0900 dewberry.com

John Boule II Senior vice president Craig Johnson Executive vice president

119 128

678 589

$463.1 Construction inspection: 20% Design-build of Van Wyck Engineering: 80% Expressway/Capacity and access improvements to JFK Airport project/Made in New York Bush Terminal

The LiRo Group 3 Aerial Way Syosset, NY 11703

516-938-5476 liro.com

Rocco Trotta Chairman Richard Cavallaro, Michael Bailey, Lawrence Blond, Michael Burton, Joseph Massa Executive vice presidents Lawrence Roberts Senior vice president

116 113

125 120

$396.5

H2M architects + engineers 538 Broad Hollow Road Melville, NY 11747

631-756-8000 h2m.com

Richard Humann President, chief executive

91 92

$87.4

McLaren Engineering Group 131 W. 35th St. New York, NY 10001

212-324-6300 mgmclaren.com

Malcolm McLaren Chief executive

85 85

76 85

$48.0

Mueser Rutledge

917-339-9300

Peter Deming Senior partner

75 72

$37.6

718-391-9200 tectonicengineering.com

Donald Benvie President, chief executive

65 65

76 76

$91.4 Construction inspection: 25% Redevelopment of JFK Airport/ Construction mgmt.: 42% Replacement of I-278 bridges

RANK

1 2 3 4 5 6 7 8 9

12 13 14 15 16

Consulting Engineers mrce.com 12 | CRAIN’S NEW YORK BUSINESS | AUGUST 9, 2021

2,318 2,297

Tectonic Engineering Consultants, Geologists &

RECENT PROJECTS/CLIENTS

RAN

Construction mgmt.: 11% Empire State Development, Engineering: 88% Moynihan train hall/L&L Facility assessment: 1% Holding Company, 425 Park Ave.

George Washington Bridge Restore the George program/Ed Koch Queensboro Bridge replacement of upper roadway

Architecture: 12% n/d Construction inspection: 1% Construction mgmt.: 17% Engineering: 70% Architecture: 30% MTA Harrison Place substation Construction inspection: 4% design-build/Bruckner Construction mgmt.: 22% Expressway ramp deck Engineering: 44% Architecture: 4% Construction inspection: 14% Construction mgmt.: 4% Engineering: 76% Other: 2%

NYCT/MTA,Rehabilitation of nine stations on the Seabeach Line/NYSDOT and Halmar International LLC, Kew Gardens interchange infrastructure and operational improvements

12 31 41

15 6

New refe disc

CRAIN’S NEW YORK BUSINESS 2021

14 Penn Plaza, 225 W. 34th Street New York, NY 10122

P012_P013_CN_20210809.indd 12

$2,360.9

NEW YORK–AREA SERVICE MIX (PORTION OF BILLINGS)

1 1 1

$119.0

Construction inspection: 7% NJ TRANSIT Raritan River Construction mgmt.: 8% Bridge/Bruckner Expressway Engineering: 85% over Amtrak/CSX Hunts Point access improvements

Construction inspection: 10% project/MTA Capital Construction mgmt.: 40% construction, LIRR Expansion Engineering: 44% Project Facility assessment: 2%

HISPANIC LEADERS $13,567.0 Architecture: 4% MTA C&D,& EastEXECUTIVES Side access

Architecture: 7% East Midtown Greenway Engineering: 93%

Architecture: 1% Construction inspection: 11% Construction mgmt.: 6% Engineering: 80% Facility assessment: 2%

Architecture: 3% Construction inspection: 40% Construction mgmt.: 47% Engineering: 9% Other: 1%

NYCDDC project management and construction management services for coastal resiliency projects/MTA-C&D MNR Penn Station access design

SUCF SUNY Stony Brook MART Building and Hospital Pavilion/ CUNY Baruch College, Field Building renovation

Engineering: 63% Bay View houses heating plant/ AOP pilot treatment at Watermill Lane, Great Neck Construction inspection: 3% New York City Fast Ferries/ Engineering: 77% Westchester County bundled Facility assessment: 20% bridge replacements designbuild Engineering: 100% NYCT 207th Street Yard flood mitigation and Sandy repair/ JPMorgan Chase new headquarters at 270 Park Ave. 8/5/21 4:11 PM

1 1

COM

/ er

12 13 14 15 116 RANK

217 318 419 519 6

T /

t/ mill

John Boule II Senior vice president Craig Johnson Executive vice president

119 128

678 589

$463.1 Construction inspection: 20% Design-build of Van Wyck Engineering: 80% Expressway/Capacity and access improvements to JFK Airport project/Made in New York Bush Terminal

The LiRo Group 3 Aerial Way Syosset, NY 11703

516-938-5476 liro.com

Rocco Trotta Chairman Richard Cavallaro, Michael Bailey, Lawrence Blond, Michael Burton, Joseph Massa Executive vice presidents Lawrence Roberts Senior vice president

116 113

125 120

$396.5

H2M architects + engineers 538 Broad Hollow Road Melville, NY 11747

631-756-8000 h2m.com

Richard Humann President, chief executive

91 92

$87.4

McLaren Engineering Group 131 W. 35th St. COMPANY/ ADDRESS New York, NY 10001

212-324-6300 mgmclaren.com

Malcolm McLaren Chief executive

PHONE NUMBER/ WEBSITE

SENIOR EXECUTIVE(S)

85 NEW YORK–AREA 85 ENGINEERS 2020/ 2019

85 WORLDWIDE ENGINEERS 2020/ 2019

2020 FIRMWIDE REVENUE (IN MILLIONS)

Mueser WSP USARutledge Consulting 1 Penn PlazaEngineers 14 Penn 225 W. 34th New York,Plaza, NY 10119 Street New York, NY 10122 Thornton Tomasetti Inc. Tectonic Engineering 120 Broadway Consultants, Geologists & New York, NY 10271-0016 Land Surveyors 118-35 Queens Blvd. Forest Hills, NY 11375 Langan DeSimone Consulting 21 Penn Plaza Engineers New York, NY 10001 140 Broadway GPI New Greenman-Pedersen York, NY 10005 Inc. AKF Group 325 W. Main St. One Liberty Babylon, NYPlaza 11702 New York, NY 10006 AECOM Savin Engineers 605 Third Ave. 3 Campus Drive New York, NY 10158 Pleasantville, NY 10570

917-339-9300 212-465-5000 mrce.com wsp.com

PeterCornell Deming Lou Senior partner Chief executive

75 711 72 797

75 26,676 72 27,058

$37.6 $6,888.3

917-661-7800 718-391-9200 thorntontomasetti.com tectonicengineering.com

Thomas Scarangello Donald Benvie Executive chairman President, chief executive Peter DiMaggio Michael Squarzini Co-chief executives

348 65 336 65

1,000 76 980 76

212-479-5400 212-652-9192 langan.com de-simone.com

David Gockel Stephen DeSimone President, chief executive President, chief executive

328 64 313 75

649 98 571 111

$323.0 $54.1

631-587-5060 gpinet.com 212-354-5656 akfgroup.com

Gregory Zenk P.E. Executive vice president, Dino DeFeo branch manager metro-area Managing partner

234 212 60 57

404 395 87 90

$348.2 Construction inspection: 30% Construction mgmt.: 20% $64.0 Engineering: Engineering:100% 45% Other: 5%

212-973-2900 914-769-3200 aecom.com savinengineers.com

Tom Scerbo Rengachari Srinivasaraghavan Metro New York executive PresidentStigliano Marilisa Operations leadership director

217 60 200 70

12,315 75 10,750 80

$48.0

Architecture: 3% Construction inspection: 40% Construction mgmt.: 47% Engineering: 9% Other: 1%

SUCF SUNY Stony Brook MART Building and Hospital Pavilion/ CUNY Baruch College, Field Building renovation

Engineering: 63% Bay View houses heating plant/ AOP pilot treatment at Watermill Lane, Great Neck Construction inspection: 3% Engineering: 77% Facility assessment: NEW YORK–AREA SERVICE20% MIX

New York City Fast Ferries/ Westchester County bundled bridge replacements design(PORTION OF BILLINGS) build RECENT PROJECTS/CLIENTS

Engineering: Construction mgmt.:100% 11% Engineering: 88% Facility assessment: 1%

NYCT Yard flood Empire207th StateStreet Development, mitigation and Sandy repair/ Moynihan train hall/L&L JPMorganCompany, Chase new Holding 425 Park headquarters at 270 Park Ave. Ave.

$275.0 Architecture: 3% David Geffen Hall Renovation/ $91.4 ConstructionEngineering: inspection: 25% Redevelopment of JFK Airport/ 61% Terminal Warehouse/Wildflower Construction mgmt.: 42% Replacement of I-278 bridges Facility assessment: 31% Studios/4 Hudson Square Engineering: Other:33% 5%

$13,200.0 $50.7

Engineering: 100% Willets Point, Queens/The Engineering: 100% Stony Southampton Spiral,Brook 66 Hudson Blvd. Hospital/ShopRite, Jersey City

Architecture: 12% 5% ConstructionArchitecture: inspection: 1% Construction inspection: 30% Construction mgmt.: 17% Construction mgmt.: 70% 20% Engineering: Engineering: 45%

George Washington Bridge Restore the George program/Ed NewYork-Presbyterian/Port Koch Queensboro Bridge Authority of New York &roadway New replacement of upper Jersey n/d Westchester County Playland/ Mount Vernon schools

disclosed.

HDR 500 7th Ave. New York, NY 10018

212-542-6000 hdrinc.com

Hardesty & Hanover 1501 Broadway New York, NY 10036

212-944-1150 hardestyhanover.com

Jane Charalambous New York/New Jersey area manager

162 154

2,318 2,297

$2,360.9

Sean Bluni Chief executive

160 154

269 248

$119.0

12,538 11,866

$13,567.0

CRAIN’S NEW YORK BUSINESS 2021

HISPANIC LEADERS & EXECUTIVES Jacobs 908-646-6550 Vanessa Ajdinova 154

CUTIVES

212-685-0900 dewberry.com

STV 212-777-4400 Dominick Servedio 183 551 $566.5 Architecture: 30% MTA Harrison Place substation 225 Park Ave. South stvinc.com Chairman 225 586 Construction inspection: 4% design-build/Bruckner New York, NYCity 10003 Greg Kelly P.E.York, and Bergen, Essex, Hudson and Union counties in New Jersey. Crain's New York Business Construction mgmt.: 22% Expressway deck New York area includes New York and Nassau, Suffolk and Westchester counties in New uses research, extensive surveys ramp and the most current President, chief executive Engineering: 44% may have additional titles. n/d-Not references available to produce its lists, but there is no guarantee that these listings are complete. To qualify for this list, an engineering firm must have a New York–area office and projects in the area. Executives

SS 2021

Dewberry 132 W. 31st St. New York, NY 10001

500 Seventh Ave. New York, NY 10018

jacobs.com

9 Honor Exceptional

Division vice president, director of New York operations

183

Tom Walsh Vice president

141 145

3,396 3,381

Stephen Dilts Senior vice president

131 137

1,200 1,200

212-685-0900 dewberry.com

John Boule II Senior vice president Craig Johnson Executive vice president

119 128

678 589

516-938-5476 liro.com

Rocco Trotta Chairman Richard Cavallaro, Michael Bailey, Lawrence Blond, Michael Burton, Joseph Massa Executive vice presidents Lawrence Roberts Senior vice president

116 113

125 120

Hispanic Leaders Stantec Consulting 212-366-5600 Services Inc. & Executives in stantec.com 475 Fifth Ave. New York, NY 10017 New York City! 212-594-9717 HNTB New York Engineering and NominationsArchitecture NOW OPEN for Hispanic individuals in a senior 350 Fifth Ave. leadership role their firms, New at York, NY 10118

emphasizing those that have made significant contributions Dewberry within to advance equality 132 W. 31st St. the workplace. New York, NY 10001

Honorees will be profiled in a special feature in LiRo Group the OctoberThe 11 issue of 3 Aerial Way Crain’s New York Business.

hntb.com

Syosset, NY 11703

13SUBMIT TODAY:

CrainsNewYork.com/NotableHispanic

14 15 16

$1,418.3

$396.5

91 92

$87.4

McLaren Engineering Group 131 W. 35th St. New York, NY 10001

212-324-6300 mgmclaren.com

Malcolm McLaren Chief executive

85 85

76 85

$48.0

Peter Deming Senior partner

75 72

$37.6

718-391-9200 tectonicengineering.com

MTA C&D, East Side access project/MTA Capital construction, LIRR Expansion Project

Architecture: 7% East Midtown Greenway Engineering: 93%

Architecture: 1% Construction inspection: 11% Construction mgmt.: 6% Engineering: 80% Facility assessment: 2%

NYCDDC project management and construction management services for coastal resiliency projects/MTA-C&D MNR Penn Station access design

Architecture: 3% Construction inspection: 40% Construction mgmt.: 47% Engineering: 9% Other: 1%

SUCF SUNY Stony Brook MART Building and Hospital Pavilion/ CUNY Baruch College, Field Building renovation

grassicpas.com/ae 91 92

Tectonic Engineering Consultants, Geologists &

Architecture: 4% Construction inspection: 10% Construction mgmt.: 40% Engineering: 44% Facility assessment: 2%

$463.1 Construction inspection: 20% Design-build of Van Wyck Engineering: 80% Expressway/Capacity and access improvements to JFK Airport project/Made in New York Bush Terminal

Richard Humann President, chief executive

P012_P013_CN_20210809.indd 13

Construction inspection: 7% NJ TRANSIT Raritan River Construction mgmt.: 8% Bridge/Bruckner Expressway Engineering: 85% over Amtrak/CSX Hunts Point access improvements

business advice from experienced A&E advisors will add certainty to your future. $3,526.8

631-756-8000 h2m.com

Mueser Rutledge 917-339-9300 Consulting Engineers mrce.com 14 Penn Plaza, 225 W. 34th Street New York, NY 10122

NYCT/MTA,Rehabilitation of nine stations on the Seabeach Line/NYSDOT and Halmar International LLC, Kew Gardens interchange infrastructure and operational improvements

STRATEGIC

H2M architects +

engineers Nominations close Broad Hollow Road on August538 13. Melville, NY 11747

Architecture: 4% Construction inspection: 14% Construction mgmt.: 4% Engineering: 76% Other: 2%

Engineering: 63% Bay View houses heating plant/ AOP pilot treatment at Watermill Lane, Great Neck Construction inspection: 3% New York City Fast Ferries/ Engineering: 77% Westchester County bundled Facility assessment: 20% bridge replacements designbuild Engineering: 100% NYCT 207th Street Yard flood mitigation Sandy repair/ | 13 AUGUST 9, 2021 | CRAIN’S NEW and YORK BUSINESS JPMorgan Chase new headquarters at 270 Park Ave.

Donald Benvie President, chief executive

65 65

76 76

8/5/21 4:56 PM

$91.4 Construction inspection: 25% Redevelopment of JFK Airport/ Construction mgmt.: 42% Replacement of I-278 bridges

REAL ESTATE

Owners redeploy empty storefronts as ad space

he availability of retail space is at an all-time high in the city, but landlords are not letting their revenue streams dry up. They’re trading in their “For Rent” signs for money-making advertisements—worth thousands of dollars a month—complete with high-tech screens to engage passersby, liven up their vacant real estate and keep the cash flowing. “Something is better than nothing,” said Daniel Sherman, a general manager at Stellar Management. “As New York makes its recovery, it’s nice to identify every income stream you can.” At the real estate firm’s One Soho Square building, it ran an advertisement for the Ford F150 pickup truck—a video ad that took up an entire window and played on a loop as New Yorkers walked by the building. The company even included information about the retail space that was available at the end of the ad with the broker’s information. The ad will stay there until the space can be leased up, Sherman said. Stellar, as well as other city landlords including CIM Group, Rock-

company founder Nathan Elliott said. “This increase in window supply has created a great opportunity … to repurpose these vacant spaces to create a temporary revenue stream for landlords while they search for new tenants.” During the second quarter of the year, retail leasing activity in Manhattan was at 60% below where it was the year before, according to data from CBRE. During the same quarter, availability hiked up to 290 from 275, reaching a new high and putting pressure on landlords to boost their numbers.

Revenue stream Frontrunner partners with building owners to market their space to advertisers, which can then pick and choose the addresses where they’d like their ads to play. They pay Frontrunner to place the ad, and the landlords also get a check for the use of their windows. On average an installation can generate $25,000 to $30,000 per month, and the landlords share in that revenue, Elliott said. Landlords typically earn between 5% and 15% of that, added Sean Moran, a broker at Cushman & Wakefield who represents several properties using Frontrunner’s services. Using cloud technology, Frontrunner can also update what’s playing on a specific screen at a moment’s notice. When a portion of the retail space at One Soho Square was leased, that advertisement was updated immediately to reflect the amount of space remaining at the building, said Moran. Sometimes, when he does tours with clients, he’ll have Frontrunner display their branding on the window for an added touch, he said. Compared to generic leasing signs taped to a window, these are

“THIS INCREASE IN WINDOW SUPPLY HAS CREATED A GREAT OPPORTUNITY” point Group and RXR Realty are amplifying their empty real estate with Frontrunner, a company that connects them with the advertisers and even sets up the storefront with the right technology to get the ads playing. “As you know, the pandemic has not been kind to retail businesses and restaurants and has led to an increase in empty window fronts,”

A BILLBOARD in the empty retail space at 608 Fifth Ave.

much better from a marketing standpoint, he added. Stellar had started using its storefronts in this way in 2019. But once the pandemic ensued and the city shut down, it became clear that the company would need to get creative to avoid any losses from its empty real estate portfolio.

‘The next wave’ Other buildings utilizing their windows for advertising include CIM Group’s 1440 Broadway, DDG Partners’ 100 Franklin St. and the Stahl Organization’s 579 Fifth Ave. RXR Realty activated its available retail space at 237 Park Ave., which has been vacant since 2015, while the company repositioned the building. The current ad is for the new Space Jam movie. The company had been in talks

BUCK ENNIS

BY NATALIE SACHMECHI

with a retailer to potentially take the space, but the deal died earlier in the pandemic. The new technology, however, is bringing eyeballs to the store. “So much has evolved in how we look at what retail really means,” said Whitney Arcaro, an executive vice president at the firm. “As we’re coming out of the pandemic ... this is the ability to really put the space into the eyes of customers and potential retailers in a more meaningful way.” The real estate firm is considering putting up ads in other vacant retail spaces it owns around Midtown South and in Brooklyn, she said. The Korein family’s building at 608 Fifth Ave., which used to be home to British clothing brand Topshop, has billboards advertising

the new HBOMax film No Sudden Move, though it’s not working with Frontrunner, the tech company confirmed. Topshop first inked a deal for a 44,000-square-foot space at the building in 2014 but by 2018 had listed it for sublease and closed down the following year. A representative for the building did not respond to a request for comment. Landlords remain hopeful that a strong recovery and a return of New Yorkers and tourists back to the city will give retail the boost it so badly needs. “We’ve never had as much availability across the city, and we are incredibly busy right now trying to find tenants,” Moran said. “I really see these projections being the next wave to help elevate retail spaces.” ■

BY NATALIE SACHMECHI AND EDDIE SMALL

he Durst Organization is telling its nonunion employees to get vaccinated by Labor Day or pack up their desks and find employment elsewhere. “For our corporate employees, unless they receive a medical or religious accommodation, if they are not vaccinated by Sept. 6, they will be separated from the company,” Durst spokesman Jordan Barowitz said. The Durst Organization has approximately 700 union employees and 350 corporate employees. Tenants in the developer’s buildings can make their own rules. “Many of our tenants have told us that they will not allow unvaccinated people into their space,” Barow-

itz said. Some of the city’s other major businesses have also taken a hardline approach to their employees’ vaccination status, demanding they get a shot before going back to work. Real estate development firm The Related Cos. is making things clear to potential and future workers. Its online job postings say that anyone working on-site must be vaccinated as a condition of employment. In July Morgan Stanley began requiring its employees in the city and Westchester to show proof of vaccination before entering any company buildings. Unvaccinated workers can continue to work remotely. Goldman Sachs isn’t requiring shots, but it is keeping track of em-

ployees' vaccination status. “While we strongly encourage you to receive a Covid-19 vaccine, we understand that the choice to get vaccinated is a personal one," the bank said. The Department of Justice ruled last month that federal laws can’t stop private businesses from implementing vaccine mandates for their employees, giving them some control over the health of their workers.

State and city Amid a rise in cases of the Delta variant, Gov. Andrew Cuomo announced recently that he would require all state employees to get vaccinated by Sept. 6 or take a weekly Covid test. Mayor Bill de Blasio tweeted that all city employees are required to get a shot by Sept. 13 or get a weekly

test. New Yorkers chimed in on the post, demanding that the cost of the Covid-19 tests be taken out of employees’ paychecks rather than from taxpayers’ dollars. “Don’t put their negligence and unwillingness to get vaxxed on my tab,” tweeted @freedom2015glo, who identifies as a pro-vaccination New York City mom in her Twitter bio. The city has reported low vaccination rate estimates across some of its agencies. Less than half of the Police Department’s employees have received at least one shot, and just over 50% of the Fire Department's employees have gotten their first dose, according to data from the mayor's office. Most agencies reported rates below the statewide average of 75%.

BUCK ENNIS

Durst employees still unvaccinated after Labor Day will be fired

The Department of Correction reported that 33% of its employees had received at least one shot, the lowest rate among city agencies. The Department of Health reported that 72% of its employees had received at least one shot, and the mayor’s office, 83%. The Department of City Planning reported the highest rate, 84%. ■

14 | CRAIN’S NEW YORK BUSINESS | AUGUST 9, 2021

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8/5/21 4:58 PM

For decades the women of New York have been at the forefront of the local business community, running companies in industries as diverse as law, media, construction, finance and architecture. Today there are nearly 600,000 women-owned businesses in New York, the most of any city in the U.S. The statistic reflects women’s grit and determination to succeed professionally. The figure also represents numerous pioneer business owners, some of whom have been in their roles for decades. With its list of Notable Women Business Owners, Crain’s recognizes those who have forged their career paths and, in turn, powered the city’s economy. Women-owned companies represent more than 40% of all registered businesses in the city and generate more than $70 billion in revenue annually. This list includes trailblazers such as Dorothea Regal, who founded a

litigation law firm 25 years ago, a rare event for the time, and Barbara Armand Kushner, who 30 years ago set up a construction management firm that has city agencies as clients today. Also on Crain’s list is Marci Lobel-Esrig, who more recently established a bill-payment service, SilverBills, to help manage household finances. The accomplishments of the women on these pages mirror a commitment by the city to support women-owned businesses. The Department of Small Business Services, for example, created Women Entrepreneurs NYC, an initiative that enables women to start and grow businesses. For their part, the honorees have given back to their communities, encouraging future generations of women business owners. Read on to learn more about these women of distinction and be inspired by their success.

METHODOLOGY: The honorees did not pay to be included. Their profiles were drawn from submitted nomination materials as well as editorial nominations. This list is not comprehensive. It includes only executives for whom nominations were submitted and accepted after an editorial review, plus after Crain’s consulted with trusted sources in the city business community. To qualify for this list, female honorees had to be employed within New York City or the surrounding counties, serving as a business founder or owner, or operating and/or controlling a business, service or other organization. Honorees must have been in the business for a minimum of five years with a staff size of at least 10.

NANCY ABER GOSHOW

CATHERINE ANGIEL

Founding partner Goshow Architects

Owner Catherine Angiel

As the head of one of the largest woman-owned architecture firms in the city, Nancy Aber Goshow is committed to planning healthy and sustainable environments. Her firm was founded in 1978 on the belief that architects have an obligation to create socially responsible designs. Goshow Architects conceived of a new 600-bed dormitory for the State University of New York at Stony Brook. Other work includes renovation, historical preservation, security system and construction projects for the New York City School Construction Authority, the City University of New York and the General Services Administration. Goshow’s firm recently won an international assignment from the GSA—a greening of a federal courthouse and office complex in San Juan, Puerto Rico.

The city influences award-winning jewelry designer Catherine Angiel, and her life experiences have inspired her trend-setting style. As a drummer in the 1980s underground rock scene, she played alongside some of the greatest musicians in the genre. The grit of the city—its people, graffiti-covered walls, underground tattoo parlors and architecture—are reflected in her designs. In 1993 Angiel was determined to open and create an atmosphere that was low-key and welcoming. “I never enjoyed walking into jewelry stores,” she has said. “I was determined to bring the cool factor into fine jewelry and create an environment that was the opposite of the norm.” Today Angiel’s store, occupying a 700-square-foot shop on Greenwich Avenue, is intimate and welcoming.

BARBARA ARMAND KUSHNER President, CEO and owner Armand Corp.

Barbara Armand Kushner is closely involved in all projects at the Armand Corp., the program and construction management firm she established 30 years ago. Armand provides operations, budgeting, reporting, procurement, construction supervision and cost-estimating services. Its markets include transportation, housing, educational facilities and disaster recovery. Among the company’s notable clients are the New York City Department of Design and Construction, the New York City Economic Development Corp. and the governor’s Office of Storm Recovery. Louisiana-born Armand Kushner began her career in the nuclear power industry. She believes in “paying it forward,” mentoring five minority-owned businesses and supporting the New York City Public Library and the New Jersey Community Food Bank, among other organizations.

IDALIS BAILEY

STACEY BENDET

CEO Renew Esthetics Medical Spa

CEO Alice + Olivia

Bailey Idalis sees her medical spa as an opportunity to transform people’s lives. She was born in Barranquilla, Colombia. She came to the United States in 2003 to build her own company after receiving nursing and business degrees abroad. As the owner of Renew Esthetics in Astoria, Queens, Idalis is focused on taking care of her patients’ images and highlighting their internal beauty. Renew’s services combine natural therapies and modern technology. Treatments include skin rejuvenation, laser hair removal and facials. Two years ago Idalis launched an offshoot brand, Idalis Beauty Savvy, which has boosted her credibility in the beauty industry. The business helps entrepreneurs expand their knowledge of health, wellness and aesthetics through networking events and educational courses.

Stacey Bendet conceived the Alice + Olivia fashion label nearly 20 years ago during a personal quest to create the perfect pair of pants. Since then it has grown into a full lifestyle collection, including ready-towear clothing, gowns, shoes, handbags, accessories and eyewear. The multicategory brand’s mission: to empower and encourage women. Bendet supports the arts philanthropically, both personally and professionally, through collaborations with numerous artists. The company is a Hollywood favorite, with celebrity fans including Gwyneth Paltrow, Gigi Hadid, Amal Clooney, Jessica Alba and Kourtney Kardashian. With clothing that juxtaposes the whimsical with the sophisticated, A + O reflects the personality and perspective of its founder.

August 9, 2021 | CRAIN’s NEW YORK BusINEss | 15

LIZ BENTLEY

Founder and owner The Greene Grape

Executive coach and organizational development consultant Liz Bentley Associates Top executive coach Liz Bentley stands out for her ability to understand human behavior and help clients reach their potential. Having worked with hundreds of individuals, Bentley has come to the conclusion that “you can’t change people, but you can help them evolve into a better version of themselves.” As the founder and president of Long Islandbased Liz Bentley Associates, Bentley has developed models that are built upon the latest research on how people perform best. Bentley, a former competitive athlete, is a nationally recognized coach to leaders across a broad range of industries. In addition, she delivers keynote speeches for conferences and companies nationwide, including SHRM, Know Your Value, Microsoft, IBM and Sotheby’s International Realty.

The community of Fort Greene, Brooklyn, has meant a lot to Amy Bennett, who owns four stores in the neighborhood under the Greene Grape umbrella. At the beginning of the pandemic, in March 2020, Bennett decided it was time to give back. The Greene Grape was among the first businesses in the area to donate food to first responders and health care workers at nearby Brooklyn Hospital. Bennett partnered with One Community Fort Greene to deliver groceries to nearby at-risk elderly. The Green Grape, a mainstay of Fort Greene, includes a liquor store, a grocery shop, and a neighborhood café and bar. In 2015 Bennett opened an ice-cream parlor. She partnered with the city’s youth employment program to staff it.

MELISSA BIGGS BRADLEY Founder Indagare A childhood filled with faraway adventures inspired Melissa Biggs Bradley to pursue a career in travel. Early in life, she saw firsthand the transformational power of travel; she visited Australia and Africa and, as a teenager, spent a year studying in France. In 2007 Biggs Bradley founded Indagare, a membership-based travel company, which provides editorial content alongside the services of a boutique, in-house travel agency. Indagare, a go-to resource for travelers seeking memorable, one-of-a-kind journeys, has been recognized by Inc. and Crain’s as a fast-growing company. In her spare time, Biggs Bradley is devoted to the Center for Responsible Travel, which encourages responsible tourism, and Reach the World, which help students develop global citizenship skills.

JULIE SKARRAT

AUNDRE LARROW

AMY BENNETT

AMY BINDER

AMY BLITZ

Founder and CEO RF|Binder Partners

Co-founder URBN Playground

Amy Binder is a problem solver. It’s a skill that comes in handy in her role as head of RF|Binder Partners, an integrated communications and consulting firm. This ability has led Binder to find innovative solutions and deep value for individuals and companies, who call upon her to help them achieve communication and business objectives. In the past year and a half, Binder led her firm through the Covid-19 crisis and brought in 17 clients. Within RF|Binder, she created a Covid-19 advisory board, which skillfully advised clients on various issues resulting from the pandemic. Binder is committed to building a collaborative team, which she does by fostering a flat, nonhierarchical culture.

Amy Blitz, a fitness guru and celebrity trainer, is a co-founder of amenity management firm URBN Playground. Blitz met her business partner while running the fitness facilities at a rental building in the city. At the time, they realized there was an opportunity to offer more full-service amenity programming for residential, commercial and hospitality real estate properties around the country. URBN Playground’s programming, now five years old, includes lifestyle and wellness offerings. Blitz services some of the biggest names in real estate, including Hines Development, Tishman Speyer, Extell Development and Toll Brothers. In 2020, under Blitz’s leadership, URBN helped buildings in the city and other markets around the country adapt to the constraints of the pandemic through enhanced virtual programming.

WOMEN ENTREPRENEURS NYC, AN INITIATIVE BASED IN THE CITY DEPARTMENT OF SMALL BUSINESS SERVICES, HAS SERVED MORE THAN 16,500 WOMEN THROUGH ITS PROGRAMS. WE NYC HAS HELD MORE THAN 1,900 HOURS OF WORKSHOPS, ALLOCATED 308 HOURS OF THE WE CONNECT MENTORS PROGRAM AND PROVIDED MORE THAN $8.9 MILLION IN AFFORDABLE LOANS TO HELP WOMEN START AND GROW BUSINESSES. —WE NYC 2021 DONNA BURKE Co-founder Sparkpr

Businesses come to Donna Burke to help them build their brands and hone their messages. Since founding Sparkpr more than 20 years ago, Burke has grown its client roster to include some of the most innovative companies in the emerging tech, financial, enterprise and consumer sectors. She is proud of her work with venture capital firms that invest in founders focused on creating a healthier planet. One such client, BlocPower, a Brooklyn-based startup, is focused on making communities in the city greener and healthier. Outside of her job, Burke is on the board of trustees of the Portledge School. In addition, she is on the advisory board of Data Driven Health, an artificial-intelligence company that uses technology to predict the spread of illnesses.

REBECCA CENNI-LEVENTHAL CEO Atrium Staffing & Workforce Solutions

By thinking about hiring from the perspective of the job seeker, Rebecca Cenni-Leventhal has succeeded in building a top employment agency, Atrium. The firm, founded more than 25 years ago, gets to know all applicants and listens to what motivates them. Atrium has national reach and depth. From the outset, Cenni-Leventhal chose to give co-paid medical benefits to temporary workers, a decision made well before it was common practice. Her company has been recognized by Staffing Industry Analysts, an industry advisory and research firm, which named her among this year’s most influential leaders in the staffing field. Cenni-Leventhal is committed to diversity and inclusion. In collaboration with kindwork.org, Atrium helps talented young adults from overlooked communities launch careers and supports their employment searches.

16 | CRAIN’s NEW YORK BusINEss | August 9, 2021

DIANA CLEMENTE

CLODAGH

IVY COHEN

President Big Apple Car

Principal Clodagh

CEO Ivy Cohen Corporate Communications

The black-car industry is in Diana Clemente’s blood. Clemente, now president of Big Apple Car, began her career in customer service at the company at 16 and moved on to a dispatch position while at Baruch College. After graduating first in her class, Clemente worked for accounting firm Peat, Marwick, Mitchell & Co., now part of KPMG. After she received her designation as a certified public accountant, she returned to her roots, and at 27 Clemente became the controller of Big Apple Car. In 1995 she saw the need for an upscale chauffeur service and created VIP Gold for C-level executives. Today she leads Big Apple Car and VIP Gold. In addition, Clemente is president of the Black Car Assistance Corp., an industry association of her peers.

Clodagh is as committed to philanthropy as she is to her award-winning interior design business. As an advocate for education and well-being, Clodagh supports the Thorn Tree Project, a nonprofit that helps nomadic families in Africa. She also is involved with animal welfare through Ape Action Africa. City-based Clodagh Design has a portfolio that spans more than 24 countries and a broad range of eco-conscious projects and products. Clodagh links her work to nature through sustainable designs that reflect the environment. Her firm has been recognized with numerous awards. Interior Design Magazine named it to its list of top 100 interior designers. The firm made the Robb Report’s list of the top 10 interior designers in the world. And Architectural Digest named the business one of the top 100 designers in the world.

With a calm and compassionate demeanor, Ivy Cohen has been advising clients for two decades on how to build their businesses for the long term. During the pandemic, Cohen’s ability to support executives in making policy and operational decisions was as important as ever. She helped clients deal with the immediate challenges of the crisis. Her strategy is to position executives and brands as industry thought leaders, enabling them to connect to timely economic, workplace, industry and societal realities. To address unexpected challenges during the pandemic, Cohen created hybrid-living .com, an online portal with curated content about leadership and best practices. To launch the site, she took on college interns who had lost their jobs in the summer of 2020.

Strong Leadership. Strong Results. WOMEN & MINORITY OWNED SINCE 1991!

CONGRATULATIONS

BARBARA ARMAND KUSHNER!

commercial buildings + disaster recovery + education + healthcare + infrastructure + multi-family housing + transportation

Barbara is excited to have been selected by Crain’s New York Business as part of their 2021 Notable Women Business Owners list. She is happy and honored to congratulate her fellow selects.

CONSTRUCTION MANAGEMENT & PROGRAM MANAGEMENT NY: 1350 Broadway, Suite 1901, New York, NY 10018 NJ: One Port Center, Suite 507, 2 Riverside Drive, Camden, NJ 08103 PA: 2 Logan Square, 100 N. 18th Street, Suite 364, Philadelphia, PA 19104 FL: 501 E. Las Olas Blvd, Suite 300/200, Fort Lauderdale, FL 33301

212.542.4179 856.489.8200 215.825.7556 754.206.6203

www.armandcorp.com

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8/2/21 9:49 AM

JACQUELINE CORBELLI

ANDREA CORREALE

DENISE DISANO

DEBBIE DONLEY

Co-founder, chair and creative director ABC Carpet & Home and ABCKitchen(s) Paulette Cole, the visionary behind ABC Carpet & Home and ABCKitchen(s), has been an inspiration in retail, hospitality and socially responsible business for decades. Cole sees the home as a reflection of its inhabitants. “It embodies a journey that evolves as we do,” she has said. Her innovative approach amplifies design and curates experiences. Cole’s father, Jerry Weinrib, opened a rug store on Broadway with his father in the 1940s. Cole joined the business in 1981 and expanded it into a home-furnishing oasis, long before experiential retail was part of the public consciousness. More recently, Cole partnered with Deepak Chopra in ABC Home. In addition, she co-created pioneering restaurants in the city with Jean-Georges Vongerichten that offer consciously sourced organic food.

CEO and founder BrightLine

President and founder Elegant Affairs

President and CEO enCappture

Owner and principal Vocon

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Jacqueline Corbelli drives business growth as the CEO of BrightLine, a New York-based technology software company. BrightLine builds, serves and delivers enhanced TV ads. Its technology provides real-time ad monitoring, content optimization and custom analytics, among other services. The company offers controlled behavior testing and audience profiling services. NBCU, Disney-ABC, CBS and Fox, among other broadcasters, have used BrightLine’s technology. For her part, Corbelli has tackled systemic issues that have redefined industry verticals, reshaped culture and rebuilt communities. In addition to her work at BrightLine, Corbelli was chairman of the board of Millennium Promise Alliance. In that role, she oversaw Columbia University’s Millennium Villages Project. In addition to other volunteer roles, she is a board member of the Sustainable Development Goals Centre for Africa.

Never one to give up in the face of a challenge, Andrea Correale turned her high-end catering business upside down to survive the pandemic. Correale initially used her fleet of refrigerated trucks to create mobile grocery markets. Then she created a party box collection for online delivery. Correale helped feed 10,000 hospital workers per day for months during the crisis. Today Correale’s company, Elegant Affairs, has resumed catering upscale events in the city and the Hamptons. Some of her previous celebrity clients include Billie Eilish, Mariah Carey and Leonardo DiCaprio. Having learned in the past year how to feed people on a massive scale, Correale plans to open a division of her business that concentrates on just that.

The idea for enCappture came from Denise DiSano’s passion for making technology accessible to all. DiSano launched enCappture two years ago to democratize mobile apps with an easy-to-use SaaS platform. EnCappture allows small to medium-size companies to build mobile apps relatively inexpensively in a few weeks rather than several months. The venture is part of DiSano’s engagement platform business, Marked Private. Its first product, Invite Bandz, connects physical wristbands to a party host’s online portal. DiSano, who taught school for 10 years, used her communications skills developed as a reading specialist to grow her business. She is a major advocate for hiring female and minority executives, and more than 90% of enCappture’s employees are women.

As the owner of Vocon, Debbie Donley designs beautiful corporate offices for clients nationwide. In addition, she has created amazing workspaces for her own employees. Donley is passionate about the impact that design can have on people, organizations and culture. Vocon’s services include architecture, interior design and workplace strategy. The company is a 16-time recipient of the Best Places to Work award by Northcoast 99 in Ohio. With offices in New York, Los Angeles and Cleveland, Vocon has helped redefine corporate visions for many Fortune 500 organizations. Outside of her day job, Donley gives back to the city through In Counsel with Women, the YWCA and Sunbeam Vocational Guidance Services.

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WE FUND VENTURE IS A PUBLIC-PRIVATE PARTNERSHIP THAT INVESTS IN CITY-BASED TECHNOLOGY STARTUPS FOUNDED BY WOMEN AND MINORITY ENTREPRENEURS WITH THE AIM OF INCREASING ACCESS TO CAPITAL NEEDED TO GROW THEIR COMPANIES. IN tHE NEXt FIVE YEARs $30 MILLION WILL BE INVEstED. THE CITY HAS COMMITTED $10 MILLION ALONGSIDE $20 MILLION FROM FIVE VENTURE CAPITAL PARTNERS. —WE NYC 2021 MEGAN DRISCOLL

NANCY ERARDI

LESLIE FIRTELL

LIMOR FRIED

CELESTE FRYE

CEO and founder EvolveMKD

Owner and CEO Nycan Builders

President and CEO Tower Legal Solutions

Founder and engineer Adafruit Industries

CEO and principal Public Works Partners

Megan Driscoll founded EvolveMKD seven years ago with a vision of offering public relations, digital marketing and branding services to healthcare, beauty and lifestyle businesses. Today her niche firm is an award-winning, industry-leading agency. In 2020 EvolveMKD booked more than $20 million in sales, brought in 10 accounts and expanded the firm’s portfolios for existing clients. Last year Driscoll published her first book, #Resolve to Evolve, filled with anecdotes about building her company and the ins and outs of public relations. She led EvolveMKD’s first research study, “Evolution of Communication: Five Communication Languages of Women.” The survey explores the way women and men communicate with themselves and others, and aims to better understand the link between communication and mental health.

After more than two decades in various management roles in construction, Nancy Erardi founded her own general contracting firm, Nycan Builders, five years ago. As the head of Nycan, Erardi has built a reputation for being an effective and energetic leader who is passionate about her work. Her management style balances results, integrity and a sense of urgency and understanding. Nycan is capable of a full range of projects, including corporate, educational, health care, hospitality, institutional, retail and new construction. Erardi, responsible for her firm’s financial health, develops and implements its business strategy and core values. She sets the tone for a company culture of professionalism and full accountability.

Former attorney Leslie Firtell is a 24-year trailblazer in the legal staffing industry. Firtell introduced the benefits of legal staffing to law firms and corporations before it was common practice. Tower Legal Solutions, which Firtell formed in 2007, provides clients with legal staffing, managed review, consulting, attorney engagements, contract management and compliance services. Under her leadership, Tower Legal has grown into a preferred provider of legal staffing to Fortune 100 companies and large law firms. The company has a reputation for transparency and value-added people solutions. By focusing on both sides of the contract lawyer equation, Firtell has generated a loyal customer and candidate base. She has won numerous awards, including the 2019 Alliance of Women Entrepreneurs Vertex Award.

With Adafruit Industries, Limor Fried hopes to inspire the next generation of engineers. Fried, an electrical engineer herself, began working on Adafruit as a student at Massachusetts Institute of Technology. Adafruit, founded in 2005, has grown; with a 50,000-square foot-factory, it has more than 100 employees in the city. The company sells tools, equipment and electronics that Fried personally selects, tests and approves before they go into her store. During the pandemic, Adafruit operated as an essential service and manufacturing business, making personal protective equipment and medical device components. In 2020 the company was appointed to the Small Business Sector Advisory Council by the city to help restart the local economy after the Covid-19 crisis.

A passion for public service, cultivated at a young age as a volunteer, led Celeste Frye to devote her professional life to supporting nonprofits. Frye founded Public Works Partners as a way to bring management consulting and planning tools to city organizations. She has helped them advance their missions, increase their impact and deliver quality services. During the pandemic, Frye guided her team through 30 projects and secured a $4 million deal with the New York City Housing Authority to manage a $6 million planning fund. She helped 172 nonprofits receive city funding though the Indirect Cost Rate Initiative. In addition, Frye launched four pilot programs to support city students and teachers in remote learning during the crisis.

18 | CRAIN’s NEW YORK BusINEss | August 9, 2021

JEAN-PIERRE UYS

PAULETTE COLE

h A a p t r d s s h t B a Z d r i d

JEAN-PIERRE UYS

ANAT GERSTEIN

KEVIN RENÉE GILBERT

LINA GOTTESMAN

SARA GRANT

CELESTE GUDAS

President Anat Gerstein

Founder and CEO Gilbert International

President and CEO Altus Metal, Marble and Wood

Partner MBB Architects

Founder 24 Seven

Before starting her own business, Anat Gerstein was the chief of staff and press secretary for city Public Advocate Betsy Gotbaum. In those roles, Gerstein was known as a hardworking, thoughtful and strategic manager. In the past decade she has used her skills to develop Anat Gerstein into a go-to agency for nonprofits. Gerstein provides a range of communications services, including media relations, digital marketing and donor outreach. In the past year she has experienced many successes. To name a few, she helped raise hundreds of thousands of dollars for BronxWork’s food pantries, aided in persuading Mark Zuckerberg to ban Holocaust denial posts, and facilitated the removal of the city police from interactions with emotionally distressed individuals.

Kevin Renée Gilbert, a psychology major in college, seeks to empower individuals to improve their lives, families and communities through personal growth and income self-sufficiency. Gilbert is the head of Gilbert International, which provides cost-effective and efficient facilities management and maintenance services to midsize and large institutions. From property management to janitorial services, Gilbert’s goal is to give facilities managers peace of mind while she offers employees stable jobs and benefits. Her clients include a number of Fortune 100 companies. To safeguard office buildings during the pandemic, Gilbert bought 150,000 masks in May 2020 to ensure that her employees and her clients were protected. In her earlier career, she was a certified public accountant at a medium-size firm.

Lina Gottesman is a pioneer in the male-dominated field of construction. More than 30 years ago, she founded Altus Metal, Marble and Wood, which restores, installs and maintains ornamental and architectural designs. Gottesman has worked on numerous iconic buildings, including the World Trade Center after the 1993 terrorist bombing, Grand Central Terminal and Macy’s Herald Square. Recently, Altus restored the bronze and wood paneling in 28 elevator cabs for the Department of Citywide Administrative Services, a landmark building. Since last spring, the company has maintained more than 100 sculptures and artworks in Battery Park City. Altus maintains the Fearless Girl statue near Wall Street. Outside of her job, Gottesman is chair of the New York Women’s Chamber of Commerce.

Sara Grant, a partner at MBB Architects, a women-owned business, is an expert in designing and managing complex, multiphased educational and institutional projects. In the past 18 months, she has completed work for Park Avenue Synagogue, Grace Church School and the Rodeph Sholom School, which received multiple awards. Grant specializes in designing equitable, healthy and sustainable environments that bring together intergenerational communities. Her published research on fair design in public settings has led to recent invitations to present her ideas and research to various divisions of the American Institute of Architects about equity in urban school environments; implementing best practices to support equity, diversity and inclusion in midsize firms; and on motherhood and career paths.

After working for 15 years in the fashion industry, Celeste Gudas launched 24 Seven, an independent digital marketing, creative and information technology staffing firm. From a single office in 2000, the firm has expanded to 13 locations worldwide. The company is the third-largest marketing and creative staffing firm in the U.S. It differentiates itself as a company by offering a range of critical workforce solutions, including finding freelance employees and providing peer-to-peer networking opportunities for marketing professionals. Gudas strives to empower 24 Seven’s employees, many of whom are women, with financial and professional growth opportunities. Gudas, who advocates expanding diversity in the workplace, is a sought-after speaker and an active member of organizations that lead diversity initiatives.

August 9, 2021 | CRAIN’S NEW YORK BUSINESS | 19

ANN HARAKAWA

KEI HAYASHI

AMANDA HESSER

TARYN HUNTER

ERICKA KELLER

Principal and CEO Two Twelve

Principal BJH Advisors

Co-founder and CEO Food52

Ann Harakawa joined Two Twelve, a socially conscious design firm, as a principal in 1994. Since then, Harakawa has devised strategic solutions to solve public information problems. Her contributions have helped shape the city’s civic and business landscape for the past two decades. She has led the design efforts for several of the Bloomberg administration’s initiatives, including the sustainability civic blueprint, New York’s Olympic bid, and the design of Bloomberg LP’s sustainability and social responsibility reporting. Her portfolio includes close collaboration with real estate developers on major institutions such as the Empire State Building, Hudson Yards and Grand Central Terminal. Harakawa has overseen the environmental graphic design efforts for NYU Langone Health, among other top health care providers.

Building upon years of government experience, Kei Hayashi launched her own real estate development and advisory firm, BJH Advisors, more than a decade ago. Hayashi previously held various positions at the New York City Economic Development Corp. In her last role there, she was executive director of the New York City Industrial Development Agency, where she worked on the financing of the Yankees and Mets stadiums, among other projects. Through BJH Advisors, Hayashi has gone on to serve numerous city agencies, neighborhood groups and developers around the country. Recently BJH Advisors completed a feasibility study of Sunnyside Yards in Queens for the city Economic Development Corp. Hayashi is a member of Brooklyn Navy Yard’s board of directors and the New York City Loft Board.

Pivoting from a food journalist to an entrepreneur, Amanda Hesser co-founded Food52 in 2009. The hugely popular website offers recipes and home improvement tips, in addition to selling upscale products to online shoppers. Last year venture firm TCG bought a majority stake in the company, which it valued at more than $100 million. Hesser, a former New York Times food editor, is the co-author of three Food52 cookbooks, most recently A New Way to Dinner, written with Food52 co-founder Merrill Stubbs. Gourmet named Hesser one of the 50 most influential women in food. Hers has been a life of highlights: Hesser played herself in the Nora Ephron film Julie & Julia. She created the Twitter app Plodt, and she was on President Barack Obama’s Commission on White House Fellowships.

Founder and CEO Cattitude Street Strutters and Dog Trains Human

CEO, Brisa Builders Corporation; Managing member, Brisa Builders Development, Brisa Venture With a heart for community development and revitalization, Ericka Keller took over her family’s construction business nearly 10 years ago. Earlier Keller was a junior high school teacher and for 10 years a city school principal. In 2016 she created Brisa Builders Development. Today it has 661 units of affordable housing completed or under construction and an additional 1,261 units in the pipeline, many of them with faith-based partners. Brisa was selected by the city Department of Housing Preservation and Development for a site in Brownsville. In 2019 Keller partnered with a colleague to expand the business outside the city. Recently, her company was selected for two projects in Massachusetts.

Taryn Hunter turned a part-time pet care company into a full-time, profitable business that employs 26 people and has been steadily growing for the past three years. Hunter has achieved success by being accessible and providing personal attention. Her Park Slope-based company has additional clients in Manhattan and Long Island City. The company provides a unique blend of dog walking, cat sitting, doggie day care and vet tech services, all within the home environment. Hunter created the first mobile app for city-based pet services. Passionate about animal rights, she has advocated with Sen. Chuck Schumer and the American Society for the Prevention of Cruelty to Animals for legislation, including the Heart Act and New York’s “no declaw” law, to improve the lives of animals.

ABOUT 5% OF ALL WOMEN-OWNED BUSINESSES IN THE U.S. OPERATE IN NEW YORK, WHICH IS THE LARGEST CONCENTRATION OF WOMEN-OWNED BUSINESSES IN ANY CITY IN THE COUNTRY. THESE BUSINESSES EMPLOY MORE THAN 321,000 PEOPLE AND GENERATE $71 BILLION IN REVENUE ANNUALLY. —CENTER FOR AN URBAN FUTURE DARA KLARFELD CEO DRG Search

Finding talented employees can be challenging for nonprofits, but Dara Klarfeld makes the process easier. As the chief executive officer of DRG Search, Klarfeld helps nonprofits search for, attract and nurture innovative as well as diverse leadership. Before joining DRG Search, she worked in the nonprofit sector for more than 15 years. Klarfeld is known for her client-centered approach, strong group facilitation skills, and expertise in working with people to resolve organizational issues to prepare them for leadership transitions. Her executive search practice is extensive and diverse. It includes partnerships with the Elmer A. Henderson School, the Hearing Health Foundation, the Weber School, Prizmah, the JCC Association, the New Teacher Center and the UJA-Federation of New York.

SYDELLE MARIN KNEPPER Founder and CEO SKA Marin

Sydelle Marin Knepper, a leader in affordable housing development, is the founder and chief executive officer of SKA Marin. The real estate company specializes in senior housing, but it has expertise in all areas of affordable development. For her part, Knepper is a pioneer in the use of innovative financing; she used her expertise to launch the city’s first Medicaid Redesign project, which supports residents in need of health care services. With more than 30 years’ experience in community and real estate development, Knepper brings hands-on knowledge to her role. Outside of her job, she was co-chair of the New York Housing Conference. Before starting her company, Knepper held various real estate-related positions, including assistant commissioner for development and policy at the state Division of Housing and Community Renewal.

20 | CRAIN’S NEW YORK BUSINESS | August 9, 2021

JAYME KOSZYN

MARCI LOBEL-ESRIG

NATALIE MCDONALD

Principal and founder Koszyn & Company

Founder, CEO and general counsel SilverBills

President, founder and CEO Create NYC

Inspired by her previous work at the Brooklyn Academy of Music, where she was responsible for on-stage programs and community partnerships, Jayme Koszyn established a nonprofit consultancy nearly 20 years ago. Since then, the Bronx native has built Koszyn & Company into a leading fundraising and capital campaign firm. Koszyn has guided the expansion of more than 140 nonprofits and nongovernmental organizations, ranging from startups to some of the world’s most complex institutions. Her clients have included Columbia University, the New York state Department of Education, the Asian Cultural Council, the Studio Museum in Harlem, Noche Flamenca and the NAACP Legal and Educational Defense Fund. Koszyn shepherded her clients through the pandemic with a commitment to maintaining a diverse staff.

The idea for SilverBills, a concierge bill-payment service, came to Marci Lobel-Esrig after witnessing the difficulties her aunt, a senior, faced in managing her household finances. SilverBills, launched in 2014, pairs clients with an account supervisor and sets up an electronic system to simplify the bill-paying process. In 2020 AARP invested in SilverBills and recognized it as a pandemic resource. In the spring of this year, Lobel-Esrig closed a first round of seed fundraising with investors, including HearstLab, Seae Ventures and the Gaingels. Through a partnership with the city Department for the Aging, SilverBills provides free services to qualified city residents, allowing them to safely outsource household bills to a professional service provider.

More than a decade ago, Natalie McDonald reimagined the conventional advertising agency model when she founded Create NYC, which focuses on the highly regulated pharmaceutical sector. McDonald, an industry disruptor, established a flat-fee model that delivers ads faster and for less money. In addition, she pioneered a work-from-home model. Create NYC employs more than 350 creative individuals with broad therapeutic and channel experience. These professionals work on demand, allowing the company to ramp up quickly and assign multiple teams during periods of high volume. Under McDonald’s leadership, Create NYC has booked more than $25 million in annual sales. The company was acquired in 2018 by Ashfield Healthcare, a subsidiary of UDG Healthcare, and it has seen 20% annual growth since then.

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CHERYL MCKISSACK DANIEL President and CEO McKissack & McKissack As the fifth-generation president of her family’s 115-year-old design and construction business, Cheryl McKissack Daniel is committed to upholding the firm’s legacy. McKissack & McKissack is the oldest minority- and female-owned professional design and construction company in the nation. In the course of its history, the company has made a point of giving back to the communities it builds. For her part, McKissack Daniel established a permanent Office of Community Employment in Harlem, on 125th Street, to connect local residents with construction-related job opportunities. Under her direction, the firm has managed more than $50 billion in construction in the past decade, including a new terminal at Kennedy International Airport and redevelopment at LaGuardia Airport.

MICHELE MEDAGLIA

COLLEEN MOLTER

LIZ NEUMARK

President and CEO ACC Construction

President QED National

Founder and chair Great Performances

Michele Medaglia, an employee of ACC Construction for more than 30 years, became its chief executive officer in 1995. In the course of her career at the company, she has been involved in all areas of the business, including operations, estimating, purchasing, finance, marketing and sales. Medaglia, a force in the industry, has driven ACC to become one of the premier woman-owned construction management and general contracting firms in New York. As CEO, Medaglia strengthens corporate performance through team-focused leadership and works toward developing innovative ways to provide higher standards of customer service. Some of her projects include the amenities at 100 Park Ave., the Aaron Diamond AIDS Research Center, Columbia Doctors, STK Steakhouse Midtown, LBBW headquarters and Tiffany & Co. Wall Street.

Almost 30 years ago, Colleen Molter founded QED National to help companies achieve their business objectives by providing information technology consulting and scalable technology solutions. Today QED is one of the foremost IT staffing, cybersecurity and management consulting firms in the country. In the past three years alone, it has won contracts in excess of $92 million. The company has more than 100 employees and hundreds of clients. QED’s growth has been fueled by an unwavering commitment to customer service. Molter, a pillar in her company, has been recognized for her work in the greater community as an advocate for minority- and women-owned businesses. She is a mayoral appointee to the city’s Minorityand Women-Owned Business Enterprises program.

Liz Neumark established Great Performances as a waitress-staffing agency with the goal of offering a flexible source of income to women in the arts. Since then, she has turned it into one of the country’s premier catering companies with more than 40 years of experience in the business. During the pandemic, Great Performances played a critical role in emergency efforts, partnering with city agencies and retooling the kitchen in its South Bronx headquarters. As the crisis evolved, Neumark adapted to virtual events and developed creative packages for “micro weddings.” Neumark prioritizes civic engagement and is the founder of the Sylvia Center, a nonprofit dedicated to teaching children about the connection between food and health through nutrition-driven, culinary-based programming.

WOMEN-OWNED BUSINESSES REPRESENT 43% OF ALL REgIstERED COMPANIEs. MORE THAN 587,000 WOMEN-OWNED BUSINESSES ARE IN NEW YORK. THAT’S THE MOST OF ANY CITY IN THE U.S. —CENTER FOR AN URBAN FUTURE

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August 9, 2021 | CRAIN’s NEW YORK BusINEss | 21

NGOZI OKARO

SHARON OLZEROWICZ

CAROL OTT

HILLARY PECKHAM

CEO 3G Warehouse

Executive director Custom Collaborative

President, CEO Hired by Matrix

Chief operations officer Etain

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Lauren Nichols entered the business world, where she runs a third-party logistics company, 3G Warehouse, after a career as a teacher. Nichols credits her former profession for her ability to communicate clearly and patiently. Her company operates 900,000 square feet of warehouse space in New York, New Jersey and South Carolina. Last year 3G moved more than 500,000 packages to houses across the United States and shipped thousands of truckloads of products to retailers. Nichols strives to provide companies with reliable, cost-effective storage solutions. With a reputation for leading by example, she is not afraid to get into the trenches. The mentor and coach encourages her team to want to succeed at every level.

Ngozi Okaro is the executive director of Custom Collaborative, a workforce development and incubator program. Okaro started the initiative in 2015 to help women from low-income and immigrant communities launch sustainable careers in fashion. Okaro, an activist for environmental and social justice, combines both passions to serve fashion workers and thoughtful consumers. In her career Okaro has helped education-, social justice- and community-based organizations identify and meet their missions. She has directed programs at the National Urban League, INSEAD and Yale. Among other distinctions, she is a 2021 AARP Purpose Prize Fellow and a 2020 World-changing Women in Conscious Business winner from Conscious Company Media and Kate Spade.

Sharon Olzerowicz has always enjoyed making matches. Her passion for putting the right people and companies together has fueled her success in the staffing industry. Olzerowicz is the head of Hired by Matrix, which she founded 35 years ago. The firm has become a leader in the staffing industry, providing temporary resources to Fortune 500 and midmarket companies. It is focused on the information technology, accounting, finance and administrative sectors. Recently, Hired by Matrix created a direct placement division to support its clients’ long-term hiring strategies. Olzerowicz is involved in numerous organizations outside of Hired by Matrix. She is an active member of the Women’s Business Enterprise National Council and a longtime member of the Women Presidents’ Organization.

President and owner Habitat magazine and the Habitat Group

As her grandmother battled Lou Gehrig’s Disease, Hillary Peckham and her family saw firsthand the comfort that medical marijuana could provide. Today she is the chief operations officer at Etain, New York’s only family-run, women-owned and -operated medical marijuana company. Peckham’s mother is the chief executive officer, and her sister is the chief health officer. In a predominantly male industry, the company has flourished. During the pandemic, Etain even expanded its retail presence to a new flagship location in the city, adding to a total of four dispensaries, while it launched a rebranding and product reformulation. Peckham expects to be part of the conversation about New York’s legalization and expansion of the Medical Marijuana Program.

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HEATHER STEN

LAUREN NICHOLS

In a challenging New York real estate media market, Carol Ott has established herself as a respected and objective voice. Ott, the founder of Habitat magazine, has grown her special-interest publication for real estate co-op and condo boards of directors to nearly 7,000 paid subscribers on many platforms, including digital, web, video, podcast, e-newsletters and events. Two years ago, she bought the real estate division of the Vendome Media Group, which added six real estate newsletters and four books to her company. Scrambling to keep up with the magazine industry, Ott has explained complex real estate issues in terms that nonprofessionals can understand. Later in the summer, she plans to launch a Co-op and Condo Case Law Tracker database and newsletter.

SINCE THE LAUNCH OF WOMEN ENTREPRENEURS NYC, THE INITIATIVE HAS PROVIDED MORE THAN 28,200 sERVICEs tO WOMEN IN THE FIVE BOROUGHS, AND THE NUMBER OF WOMEN ENTREPRENEURS IN THE CITY HAS INCREASED 22%. —WE NYC 2021 JODI PULICE

BRYNN PUTNAM

DOROTHEA REGAL

CLAUDINE REVERE

RONNETTE RILEY

Founder and CEO JRT Realty Group

Founder and CEO Mirror

Founding partner Hoguet Newman Regal & Kenney

Founder and principal Relish Catering + Hospitality

Principal and owner Ronnette Riley Architect

After working more than 13 years as a successful commercial real estate broker at various firms, Jodi Pulice struck out on her own 25 years ago to found JRT Realty Group, a woman-owned, full-service commercial brokerage. These days Pulice is responsible for a leasing and management portfolio of approximately 10 million square feet. She has been instrumental in leasing and sales transactions, including 1 World Trade Center, that total more than $3 billion. Pulice, a member of the Real Estate Board of New York, received REBNY’s Most Ingenious Deal of the Year Award for the relocation of Condé Nast’s headquarters to 1 World Trade Center and REBNY’s Bernard H. Mendik Lifetime Leadership in Real Estate Award.

Brynn Putnam is the founder and CEO of Mirror, a revolutionary, nearly invisible home gym that launched in 2018 and that lululemon acquired for $500 million last year. This was lululemon’s first acquisition and one of the biggest exits of the year for a female-owned city startup. Putnam, a rigorous leader, has been a pioneer in the fitness industry. She was a dancer for the New York City Ballet before she started the fitness chain Refine Method. Without any technical hardware or software background, Putnam built the first Mirror prototype in her kitchen. Within one month of the product’s launch, sales reached every state in the U.S. Putnam went on to raise $72 million from top-tier investors.

The principles of culinary innovation and impeccable service have defined the catering career of Claudine Revere, the founder of Relish Catering + Hospitality. Today the well-established, 20-yearold company offers special-events catering, event planning, workplace dining and corporate café service throughout the city and the Hamptons. Revere has been the exclusive caterer to several iconic city properties, and she is sought for large events, including the annual Global Citizens Festival and the main party for Fox Network Upfronts Advertising Week. Revere gives back to the community through initiatives to promote sustainability, using food packaging and delivery methods that reduce waste. In addition, she has created partnerships with organizations such as Covenant House and Re-plate to help reduce food insecurity.

Ronnette Riley created her namesake architecture firm nearly 35 years ago, and her passion for design and commitment to her clients have sustained it. Today Riley works on a range of institutional, government, corporate, hospitality, health care, retail and residential projects. She is recognized for her ability to translate her clients’ visions into quality designs. Riley’s 22-member firm has received more than 75 architecture awards, most recently LuxLife Magazine’s 2021 Leading Designers’ Award for Best Woman-Owned Architecture Practice and the 2021 Build Architecture’s Design Award for Leading Architecture and Interior Design Firm, New York. Before establishing her firm, Riley spent eight years in the architectural practice of Philip Johnson and John Burgee, where she worked on the iconic Lipstick Building in Midtown.

22 | CRAIN’s NEW YORK BusINEss | August 9, 2021

Women-owned law firms are rare enough today, but 25 years ago, when Dorothea Regal left White & Case to start a commercial litigation boutique, they were even more so. Today Regal manages the 23 lawyers in the Hoguet Newman Regal & Kenney firm. As head of the firm’s insurance recovery group, she has recouped hundreds of millions of dollars from insurers to corporate policyholders. The firm is a preferred partner to the world’s largest agrochemicals company for insurance and commercial litigation, and it counsels Cox Enterprises, a communications, media and automotive services conglomerate. Regal has contributed to cutting-edge developments in insurance law, winning a groundbreaking ruling for a global company in a $170 million insurance coverage dispute over product liability claims involving its herbicide.

1 c m h i B D N y 3 a 2 t T V v s c S d s w

e s

KAREN ROSS

JENNIFER RUGGIERO

SUZANNE SHANK

DANA TELSEY

DEBORAH TERHUNE

President and CEO Sharp Decisions

Owner and instructor The Pilates Movement

President and CEO Siebert Williams Shank & Co.

CEO and chief research officer Telsey Advisory Group

Founder and CEO Growing Up Africa

Karen Ross provides strategic business solutions and technology consulting services to companies and government agencies worldwide. Her company, Sharp Decisions, takes a multidisciplinary team approach to each assignment. Ross has advised Fortune 1000 companies on fintech, health care, manufacturing and the media, among other sectors. She has won numerous awards, including a place on DiversityBusiness.com’s list of Top 100 Diversity-Owned Businesses in New York for six consecutive years. Sharp Decisions, founded 30 years ago, has evolved with advancements in technology. In 2013 Ross developed an industry-first Vocation, Education and Training for Service program. The VETS program offers military veterans training in high-tech solutions to return them to civilian life. Since its inception, Sharp Decisions has trained and deployed more than 600 former service members into the workforce.

After she suffered a stress fracture in her foot during a college dance performance, Jennifer Ruggiero enrolled in Pilates sessions to aid her recovery. A successful rehabilitation led Riggiero to pursue teacher training under a master teacher trained by Joseph Pilates. In 2006 she opened The Pilates Movement on the Upper East Side. Today Ruggiero is proficient in all aspects of the business, including instruction, recruiting, hiring, training, purchasing equipment, money management and communication. When her business was forced to close during the pandemic, Ruggiero quickly transitioned to Zoom, leading private sessions and group lessons. In the months that followed, she managed to keep her instructors working and successfully negotiated to keep her studio, which is back up and running.

A role model for women on Wall Street, Suzanne Shank founded an investment bank 25 years ago with Muriel Siebert, the first female to own a seat on the New York Stock Exchange. Today Siebert Williams Shank is the product of the 2020 merger between Siebert Cisnero Shank and Williams Capital. It is the top minorityand women-owned investment bank in the country. Last year SWS managed 228 corporate debt offerings totaling $518 billion. It was a co-lead manager on Pershing Square Tontine Holdings’ $4 billion initial public offering, the largest special purpose acquisition corporation deal in history. SWS recently launched an affiliate, the Clear Vision Impact Fund. It raises capital for minority-owned businesses and those that are in or serve underperforming communities.

In the world of consumer and retail brands, Dana Telsey is a thought leader and influencer. As the head of Telsey Advisory Group, a consumer research, banking and consulting firm, Telsey uses a highly developed business acumen to blend real-time insights into trends. Telsey started the firm in 2006 after covering the retail sector at other banks. The firm has evolved from solely an equity-research platform to a full-service investment bank. During her 35-year career, Telsey has knowledge across consumer companies in apparel, consumer electronics, cosmetics, department stores and grocers. In 2015, after more than two decades advising mutual funds and hedge funds, she founded Telsey Consumer Fund Management, an asset management firm that runs a consumer-focused hedge fund.

New Yorker Deborah Terhune has turned a dream of providing educational opportunities in Africa into reality. Under Terhune’s leadership, Growing Up Africa conceived and built the Devland Soweto Education Campus, which it donated to the University of Johannesburg during the spring. Terhune brought together 225 executives from the largest construction companies in Africa for the project, which fulfills her goal of building and equipping resilient educational structures. Terhune is a recognized civic and industry leader with 35 years of knowledge in commercial and residential real estate in the U.S. and South Africa. After reading about businessman Chuck Feeney’s life of philanthropy in his book, The Billionaire Who Wasn’t, she was motivated to become involved in impact investing.

August 9, 2021 | CRAIN’s NEW YORK BusINEss | 23

PAMELA THOMAS

ELIZABETH VELEZ

SHAZI VISRAM

LOUISE WEADOCK

Founder and president The Thomas Collective

President Velez Organization

Founder Happy Family Organics

Founder Access Nursing Services

Award-winning communications strategist Pamela Thomas is behind some of the most creative marketing campaigns in recent memory. As the founder of the 15-yearold Thomas Collective, she has pioneered an anthropologically driven process to identify consumer motivation. Her approach has led her to be hired by Mercedes-Benz, Google, DuPont, Lenovo and Stolichnaya, among other well-known brands. To create awareness of cause-related issues, Thomas has put television broadcasters in pink robes and Novak Djokovic in an apron. Five years ago, she initiated the TTC Ten program, which pledges her agency’s expertise in brand strategy, public relations and social media in support of two nonprofits annually. Thomas began her career in network television news. She was a community organizer in her home state of Alaska.

As the second-generation owner of the Velez Organization, a construction company started by her father nearly 50 years ago, Elizabeth Velez is making her own mark. Velez has spearheaded hundreds of projects, including more than 600 units of housing made affordable by government grants in the Bronx and Harlem and more than $20 billion worth of educational, health care and large-scale initiatives throughout New York. Velez chairs the New York Building Congress, and she is the first person of color and second woman in that role in its 99-year history. She is a trustee of Boricua College, which serves primarily Latino students. In addition, Velez is on the advisory boards of numerous agencies, nonprofits, and groups supporting mentorship and youth scholarships.

Shazi Visram, a pioneer in organic baby food, founded Happy Family in 2003 after seeing a friend, a new mother of twins, struggle to find healthy meal options for her children. Visram grew the company to become the fastest-growing brand in the organic baby food category before selling it to Danone eight years ago. In the fall of 2020 Visram launched a second venture, Healthynest, which is a personal care brand for babies that pairs products with stage-appropriate developmental activities. The new endeavor has created a chemical-free diaper that holds the Environmental Working Group’s verification that it meets strict health standards. In addition, Healthynest has a line of skin care products. Visram was recognized in 2013 by President Barack Obama as a “leader that all of us can emulate.”

After a career as a child psychiatric nurse, Louise Weadock set up a nursing services company in 1985. Today Access Nursing Services is a multimillion-dollar health care company, which quintupled its business volume in the past two years to almost $25 million, with the addition of Covid-19 services. As she anticipated the path of the virus, Weadock created a “Covid care force,” which she deployed to the city’s hardest-hit hospitals to flush IV lines, reset respirators and ventilators, performing catheterizations and whatever else was needed. Once businesses began to reopen, Weadock created a Covid-19 screening program that assigned clinicians to company sites to perform tests, triage, teach and trace. Weadock’s Covid Clear Services provides testing at graduations, business events and weddings.

24 | CRAIN’s NEW YORK BusINEss | August 9, 2021

IN 2019 NEARLY 13 MILLION WOMEN-OWNED BUSINESSES EMPLOYED 9.4 MILLION PEOPLE AND CONTRIBUTED NEARLY $1.9 tRILLION TO THE U.S. ECONOMY. — AMERICAN EXPRESS

The pace of recovery for the city’s economy is uncertain, and unemployment remains stubbornly high. The city lost more than 944,000 jobs during March and April last year, according to the state comptroller’s office, and 535,000 of those jobs have yet to return. The unemployment rate stood at 10.1% two months ago and has barely improved since the start of the year. “It’s very difficult to know at this time how much is structural versus temporary,” said Rahul Jain, deputy state comptroller. “We need to be prepared for uncertainty to follow over the next few years.” Adams wants to use one problem to solve another. He sees an opening in the city’s need to comply with City Council rules aiming to lower New York’s carbon emissions and environmental guidelines set in Albany to create a jobs program. The program would be based on the retrofitting of thousands of buildings to meet lower greenhouse gas emissions mandates by 2050. “You don’t need a PhD to retrofit a building,” he said. “Just put in place a good capital program, where we don’t have to spend the money now. It’s a great investment for our future. It will encourage employment, and it’s good for our environment.” Adams would issue bonds to fund the jobs program so it wouldn’t cost the city money upfront. How much it eventually would cost is uncertain, as is what

$1.7B

THE COVID-19 ECONOMY

CRIME

Commercial vacancies The city’s commercial real estate landscape is in rough shape. A trio of July reports by CBRE found astronomical availability rates and discouraging trends for properties in Manhattan’s business districts. Midtown South’s availability rate reached a record of 19.4%. Midtown’s 17.8% availability rate is its highest since 1990. Downtown office availability reached a 24-year high of 20.1%, and leasing activity is almost 50% below its five-year average. The problems in the office sector have filtered to the street level, where shopping has declined. Fewer people are around to make lunchtime or after-work purchases. Adams is counting on his administration initiating pro-business policies such as a city-funded discount on local shopping. His team is eyeing an electronic “cyber wallet” that would initially offer 1% to 2% discounts to city employees who shop at mom-andpop shops. He also imagines easier permitting processes for commercial tenants— which would improve the bottom line at both the retail and office level. “This city is too bureaucratic, too expensive,” Adams said, “and too difficult to do business in.” He said he wants to avoid measuring the performance of city agencies such as the Department of Buildings and the Department of Small Business Services by citations issued, as they have been scored in the past. “I’m judging you on ‘How many restaurants did you get open this week?’ I’m judging you, the Fire Department of New York, on ‘How many hotels did you inspect?’ ” he said. Cities are ultimately made up of agencies, which in turn determine the temperature of the business climate, he added.

“The agenda is to get businesses open,” he said. Adams said he hopes to implement changes to the property tax code that would lower costs for middle-class owners and tenants at the expense of the wealthiest property owners. He supports the Tax Equity Now lawsuit—a challenge led by a coalition of organizations that includes the NAACP, the Rent Stabilization Organization and the Community Housing Improvement Program. The legal challenge aims to flatten out the property tax burden, providing relief to renters and less-affluent homeowners. There’s a big gap to close: Property tax collection from commercial and industrial Class 4 properties is projected to decline 12% from fiscal year 2021 to fiscal year 2022, according to the state—the first such decline since 1998. That would contribute to a $1.7 billion decline in overall city property tax collection.

“THE CITY IS TOO BUREAUCRATIC, TOO EXPENSIVE, TOO DIFFICULT”

A busted budget

portion the city would cover, said Evan Thies, Adams’ communications adviser. The administration would start with an audit of current capital needs for green infrastructure to figure out the cost for retrofitting the buildings, Thies said. Meanwhile, a surge in the Covid-19 Delta variant has muted hopes of a quick recovery of jobs. Hotel occupancy stood at 52.6% in July and might drop with added fears. A June survey from the Partnership for New York City anticipated that 62% of office workers would return to work the week after Labor Day. Some employers have backed off return-to-the-office plans, however, in the wake of the Delta surge. Adams is calling on CEOs to bring workers back to the office two days per week “as soon as possible.” To limit virus concerns, he said, offices and small businesses should

Businesses both large and small are at risk of facing diminished city services if the next mayor does not address massive budget deficits. Beginning in fiscal year 2023, the city’s deficit is on track to hit $4.1 billion (out of a $101.8 billion budget), then drop to $3.8 billion in fiscal 2024 before rising again to $4.1 billion in fiscal 2025, according to the Citizens Budget Commission. And those deficits are likely to go higher because Mayor Bill de Blasio’s administration and labor leaders have no agreement on how to find an assumed savings of $1 billion in the most recent budget. “A $98 billion budget is not acceptable or sustainable,” Adams said. “We have to run our city more streamlined and more efficiently.” To that end, the Democratic nominee would pursue an acrossthe-board budget cut of 3% to 5% in every city agency in his first year, as

COMMERCIAL VACANCIES

A BUSTED BUDGET

well as a hiring freeze, which could save $1.5 billion. He also plans to seek a tax increase on city residents who earn an income of $5 million or more, though he advocates for sunsetting the increase after two years. “Just to get us over this hump,” as he put it. It is unclear if Adams would shutter de Blasio–era programs and initiatives paid for with billions in one-time federal pandemic-relief grants, including an expansion of the city’s early childhood education program and a $234 million initiative to remove graffiti and pay new workers $15 per hour. Those programs add more than 10,000 employees to a city workforce that’s now at about 325,000. “He’s going to have to determine what he sees in uniform headcount,” said Henry Garrido, executive director of District Council 37, the city’s largest municipal employee union. “We’re going to advocate there are areas you absolutely don’t want to touch.”

Crime The consensus is that Adams, the Brooklyn borough president and a former police captain, won the Democratic nomination due in large part to his public-safety platform. “He inspired confidence that he knows what he’s doing when it comes to crime and that he is prepared to take on the politics of the far left in order to achieve a safe city,” said Kathryn Wylde, chief executive of the Partnership for New York City. “That’s the leadership the business community has been looking for.” Adams’ 22 years as a member of the New York City Police Department gave him the gravitas to speak to the threat of rising crime. Citywide shooting incidents are up nearly 16% this year compared to last year, according to NYPD CompStat data. Hate crimes are up

AP PHOTO

The Covid-19 economy

12%

ISTOCK

business community, encouraging investment and a return to normalcy even in the face of a resurgent coronavirus. “We have to put our toes back in the water,” Adams said in an interview. “There’s a lot of paranoia surrounding Covid. We can’t be so rigid.” An Adams administration would need to navigate the following four pitfalls to complete a successful first term.

GRIM OUTLOOK

BLOOMBERG

FROM PAGE 1

work with the city and state to create visible Covid-19 inspection certificates, in the way buildings are EXPECTED LEED-certified. DECLINE in “We’re dealing commercial with the percepproperty tax tion as well as the collected actual,” Adams said. “So you walk into that building and see in that TOTAL DECLINE circle that it’s in property Covid-certified. tax collection It’s a safe place. expected in So right away 2022, versus people will feel 2021 good about their environment.” Adams wants to put more money into marketing organizations such as NYC & Company to promote the city and attract business conventions. There’s only so much he can do, though, as tourism and hotel occupancy will continue to lag until the federal government lifts international travel restrictions, which bar non-U.S. citizens traveling from much of the world, including Britain, Ireland, Brazil, China and India.

BLOOMBERG

POLICIES

103%, and murders are nearly even. But the city remains safe by historical standards: Citywide, murders last year were 75% less than the 1993 total. Criminal justice experts say a flood of illegal guns into the city has been the main culprit for the increase in violence. But other social factors contribute to the instability, including homelessness and food insecurity, said Richard Aborn, president of the Citizens Crime Commission. “I think Adams is uniquely situated to understand the myriad of tools that are available to fight crime and use those in a coordinated fashion,” Aborn said, adding that Adams’ ability to communicate to the public on behalf of the Police Department will be just as important as the policies he sets forth with a new police commissioner. (He has promised to appoint the first woman to serve in the role.) Adams plans to implement new training measures for officers. He also plans a handgun commission with New Jersey and Pennsylvania. And he would reinvent the anti-crime unit as an anti-gun task force. He wants to use precision policing—a controversial tactic that uses officer teams to crack down on individuals in high-crime areas—and crisis management teams to cover hot spots. And he would strive to keep handguns out of the outer boroughs, partnering with federal agents when possible. He said he has no illusions about the difficulty of the task ahead and how important fighting crime will be to fulfilling his agenda. “Whatever we do, it starts with ‘The city must be safe,’ ” he said. “It must be safe to get people back into their office space. It must be safe to get tourism—a multibillion-dollar industry—up and operating. It must be safe to allow people to just basically enjoy their city.” ■

AUGUST 9, 2021 | CRAIN’S NEW YORK BUSINESS | 25

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Advertising Section

CLASSIFIEDS POSITION AVAILABLE Associate Director Creative Strategy - (The Economist Newspaper, NA, Incorporated, New York, NY) Collaborate across business disciplines including sales, company thought leadership, client-branded content and events teams, and media strategy to develop and deliver client proposals. Develop creative strategies that meet client briefs. Reqs %DFK ·V GHJUHH RU KLJKHU RU IRUHLJQ equivalent) in Communications, Communication Management, Marketing RU UHO ÀHOG DQG \UV · H[S LQ FRQWHQW marketing and media strategy in large creative agency, publisher or marketing department of a corporate company. 2 \UV · VWDWHG H[S H PXVW EH LQ D PLG OHYHO PDQDJHPHQW SRVLWLRQ $OO VWDWHG H[SHrience must incl. client management; digital user and digital marketing in ODUJH FRPSOH[ KLJK LPSDFW PDUNHWLQJ organizations; presenting proposals to senior leadership at clients; managing a team; working with global stakeholders. If interested in this opening, or LI \RX NQRZ RI TXDOLÀHG SHUVRQV ZKR might be interested, apply with resume to izzytubman@economist.com. Refer to job code# 4874671

PUBLIC & LEGAL NOTICES Notice of Formation of CPG TRIBORO PORTFOLIO MANAGER LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 06/15/21. Office location: NY County. Princ. office of LLC: 419 Park Ave. South, Ste. 401, NY, NY 10016. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to Corporation Service Co., 80 State St., Albany, NY 12207. Purpose: Real estate. Notice of Formation of ABNER GP LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 07/16/21. Office location: NY County. Princ. office of LLC: 40 E. 69th St., NY, NY 10021. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to Philip J. Michaels, c/o Norton Rose Fulbright US LLP, 1301 Ave. of the Americas, NY, NY 10019. Purpose: Any lawful activity.

To place a classified ad, contact Claudia Hippel at 312-659-0076 or email: classifieds@crain.com PUBLIC SALE NOTICE

PUBLIC & LEGAL NOTICES

UCC Public Sale Notice

Please take notice that Jones Lang LaSalle, on behalf of 850 Mezzanine B, LLC, a Delaware limited liability company (the “Secured Party”) offers for sale at public auction on September 14, 2021 at 2:00 p.m. (prevailing Eastern Time) on the front steps of the New York County Supreme Court Building, located at 60 Centre Street, New York, NY 10007, and also being broadcast for remote participation via a virtual videoconference, in connection with a Uniform Commercial Code sale, 100% of the limited liability company interests in 850 Third Avenue Mezz I, LLC, a Delaware limited liability company (the “Pledged Entity”), and all other collateral pledged by 850 Third Avenue Mezz II, LLC, a Delaware limited liability company (the “Debtor”) under that certain Amended and Restated Junior Mezzanine Pledge and Security Agreement, dated as of January 8, 2019 (as amended, supplemented or otherwise modified from time to time, the “Security Agreement”) made by the Debtor in favor of the Secured Party, (collectively, the “Collateral”). The Collateral is owned by the Debtor, having its principal place of business at c/o The Chetrit Organization LLC, 1384 Broadway, 7th Floor, New York, New York 10018. The Debtor directly owns the Pledged Entity, which in turn owns 850 Third Avenue Owner, LLC, a Delaware limited liability company (“Owner”), which directly owns certain real property located at 850 Third Avenue, New York, New York 10022 (the “Premises”). The Secured Party, as lender, made a loan (the “Junior Mezzanine Loan”) to the Debtor pursuant to that certain Junior Mezzanine Loan Agreement, dated as of June 15, 2018 (as the same has been amended, restated, supplemented or otherwise modified from time to time, the “Junior Mezzanine Loan Agreement”). In connection with the Mezzanine Loan, the Debtor has granted to the Secured Party a first priority lien on the Collateral pursuant to the Security Agreement. The Secured Party is offering the Collateral for sale in connection with the foreclosure on the pledge of such Collateral. The Pledged Entity is a borrower under a loan (the “Senior Mezzanine Loan”) in the original aggregate principal amount of $75,000,000, which is secured by, among other things, 100% of the limited liability company interests in Owner. The Premises are subject to a mortgage loan (the “Senior Loan”) to Owner securing indebtedness in the original aggregate principal amount of $242,000,000. The sale of the Collateral will be subject to all applicable third-party consents and regulatory approvals, if any. Without limitation to the foregoing, please take notice that there are specific requirements for any potential successful bidder in connection with obtaining information and bidding on the Collateral, including, but not limited to, (1) complying with the restrictions applicable to the sale of the Collateral under the Intercreditor Agreement dated as of June 15, 2018 by and among the Secured Party, the holder of the Senior Loan and the holder of the Senior Mezzanine Loan, including that such bidder is a “Qualified Transferee” (as defined in the Intercreditor Agreement) and has obtained the consent of the holder of the Senior Mezzanine Loan and the holder of the Senior Mezzanine Loan, or will repay the Senior Loan and Senior Mezzanine Loan prior to the sale of the Collateral; and (2) delivering such documents and pay such amounts as required by the Intercreditor Agreement and the applicable governing documents relating to the Collateral. The Collateral are being offered as a single lot, “as-is, where-is”, with no express or implied warranties, representations, statements or conditions of any kind made by the Secured Party or any person acting for or on behalf of the Secured Party, without any recourse whatsoever to the Secured Party or any other person acting for or on behalf of the Secured Party and each bidder must make its own inquiry regarding the Collateral. The winning bidder shall be responsible for the payment of all transfer taxes, stamp duties and similar taxes incurred in connection with the purchase of the Collateral. The Secured Party reserves the right to (i) credit bid; (ii) set a minimum reserve price; (iii) reject all bids (including without limitation any bid that it deems to have been made by a bidder that is unable to satisfy the requirements imposed by the Secured Party upon prospective bidders in connection with the sale or to whom in the Secured Party’s sole judgment a sale may not lawfully be made) and terminate or adjourn the sale to another time, without further publication or notice; (iv) accept a lower bid if the bid is on terms Secured Party determines is more favorable to Secured Party or is from a bidder that, in Secured Party’s determination, offers a more certain likelihood of execution; (v) sell the Collateral at a subsequent public or private sale; and (vi) impose any other commercially reasonable conditions upon the sale of the Collateral as the Secured Party may deem proper. Each prospective bidder (other than the Secured Party or its affiliate) will be required to represent in writing to the Secured Party that such bidder (i) is acquiring the Collateral for investment purposes, solely for the purchaser’s own account and not with a view to distribution or resale of the Collateral; (ii) has sufficient knowledge and experience in financial and business matters so as to be capable of evaluating the merits and risks of investment and has sufficient financial means to afford the risk of investment in the Collateral; (iii) will not resell or otherwise hypothecate the Collateral without a valid registration under applicable federal or state laws, including, without limitation, the Securities Act of 1933, as amended (the “Securities Act”), or an available exemption therefrom; provided that the Secured Party reserves the right to verify that each certificate for the limited liability company interests to be sold bears a legend substantially to the effect that such interests have not been registered under the Securities Act and to impose such other limitations or conditions in connection with the sale of the Collateral as the Secured Party deems necessary or advisable in order to comply with the Securities Act or any other applicable law; (iv) will purchase the Collateral in compliance with all applicable federal and state laws; (v) is or will be, at the time of closing of the sale, a Qualified Transferee (as defined in the Intercreditor Agreement); and (vi) will be able to satisfy and will satisfy all of the other requirements of the Intercreditor Agreement. Meeting any requirements of the foregoing shall be at the sole responsibility, risk, cost, and expense of a prospective bidder. All bids (other than credit bids of Secured Party) must be for cash with no financing conditions and the successful bidder must deliver immediately available good funds (1) for the Required Deposit (as defined in the Terms of Sale) on the date of the Sale, and (2) for the balance of the purchase price for the Collateral on the closing date prescribed by the Terms of Sale. Further information concerning the Collateral, the requirements for obtaining information and bidding on the interests and the Terms of Sale can be found at (http://www.850ThirdAveUCCSale.com/), or by contacting Brett Rosenberg by telephone at (212) 812-5926 or by email at brett.rosenberg@am.jll.com.

PUBLIC & LEGAL NOTICES Notice of Formation of 315-317 GROUP LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 07/13/21. Office location: NY County. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to Pietro Martire, 155 W. 85th St., NY, NY 10024. Purpose: Any lawful activity.

Notice of Formation of 303-305 GROUP LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 07/13/21. Office location: NY County. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to Pietro Martire, 155 W. 85th St., NY, NY 10024. Purpose: Any lawful activity.

48 W 37 ASSOCIATES LLC, Arts. of Org. filed with the SSNY on 07/01/2021. 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, C/O Adams & Co. Real Estate, Inc., 411 Fifth Avenue, NY, NY 10016. Purpose: Any Lawful Purpose.

Notice Of Formation Of OUR FIRST LABOR AND DELIVERY SERVICES LLC. Articles of Organization filed with the Secretary of State of NY (SSNY) on 03/22/2021. Office Location NEW YORK County. SSNY has been designated as agent upon whom process against it may be served. The post Office address to Which the SSNY shall mail a copy of any process against the LLC served upon him/her is: 641 LEXINGTON AVE 13TH FLOOR NY, NY 10022. The principal business address of the LLC is: 641 LEXINGTON AVE 13TH FLOOR NY, NY, 10022. Purpose: any lawful act or activity.

NOTICE OF FORMATION OF LIMITED LIABILITY COMPANY NAME: OTHER PARENTS LIKE ME LLC Articles of Organization were filed with the Secretary of State of New York (SSNY) on 06/11/2021. Office Location: New York County. SSNY has been designated as agent of LLC upon whom process may be served. SSNY shall mail a copy of any process against the LLC served upon him or her to the company at 130 Watts Street, New York, NY 10013. Principal business address: 43 County Road 635, Hampton, NJ 08827. Purpose: Any lawful acts.

Notice of Qualification of COFFEE DIGITAL, LLC Appl. for Auth. filed with Secy. of State of NY (SSNY) on 06/ 09/21. Office location: NY County. LLC formed in Delaware (DE) on 05/ 26/21. Princ. office of LLC: 177 Mott St., NY, NY 10012. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to the LLC at the princ. office of the LLC. DE addr. of LLC: c/o Corporation Service Co., 251 Little Falls Dr., Wilmington, DE 19808. Cert. of Form. filed with Secy. of State of the State of DE, 401 Federal St., Dover, DE 19907. Purpose: Any lawful activity.

Notice of Formation of 203 Flatiron Property Management, LLC. Arts. of Org. filed with Secy. of State of NY (SSNY) on 06/21/21. Office location: NY County. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to: Registered Agents Inc., 90 State St., Ste. 700, Office 40, Albany, NY 12207. Purpose: any lawful activities. SJD, LLC Auth. filed w/ SSNY on 5/17/21. NYS fictitious name: SJD NY LLC. Office: New York Co. LLC formed in DE on 3/26/18. SSNY designated as agent for process & shall mail to: 1407 Broadway, #3507, NY, NY 10018. DE addr. of LLC: 16192 Coastal Highway, Lewes, DE 19958. Cert. of Form. filed w/ DE Sec of State, 401 Federal St, #4, Dover, DE 19901. Purpose: any lawful. Notice of Formation of WG 115 LLC. Arts. of Org. filed with Secy. of State of NY (SSNY) on 06/16/21. Office location: NY County. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to: WG 115 LLC c/o WG & Associates Management and Development, Inc., 1140 Broadway, Ste. 904, NY, NY 10001. Purpose: any lawful activities. Notice of Qualification of 155 WEST 11TH 9D LLC Appl. for Auth. filed with Secy. of State of NY (SSNY) on 07/09/21. Office location: NY County. LLC formed in Delaware (DE) on 07/02/21. Princ. office of LLC: 820 Morris Tnpk., Ste. 301, Short Hills, NJ 07078. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to c/o Corporation Service Co., 80 State St., Albany, NY 12207-2543. DE addr. of LLC: 251 Little Falls Dr., Wilmington, DE 19808. Cert. of Form. filed with DE Secy. of State, 401 Federal St. - Ste. 4, Dover, DE 19901. Purpose: Real estate.

NOTICE FOR FORMATION of a limited liability company (LLC). The name of the limited liability company is NTT PROPERTIES LLC. The date of filing of the articles of organization with the Department of State was April 14, 2021. The County in New York in which the office of the company is located is New York. The Secretary of State has been designated as agent of the company upon whom process may be served, and the Secretary of State shall mail a copy of any process against the company served upon him or her to The LLC, 182 2nd Avenue, Apt 2, New York, New York 10003. The business purpose of the company is to engage in any and all business activities permitted under the laws of the State of New York.

Notice of Qualification of A PRIORI INVESTMENT MANAGEMENT LLC Appl. for Auth. filed with Secy. of State of NY (SSNY) on 06/16/21. Office location: NY County. LLC formed in Delaware (DE) on 05/15/14. Princ. office of LLC: 363 Lafayette St., NY, NY 10012. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to c/o Corporation Service Co., 80 State St., Albany, NY 12207-2543. DE addr. of LLC: 251 Little Falls Dr., Wilmington, DE 19808. Cert. of Form. filed with Jeffrey W. Bullock, 401 Federal St., #4, Dover, DE 19901. Purpose: Any lawful activity.

NOTICE OF FORMATION OF THREE BEARS CAPITAL, LLC. Articles of Organization filed with Secretary of State of NY (SSNY) on 05/25/2021. Office location: NEW YORK County. Principal office of LLC: 380 LENOX AVE., APT #10E, NEW YORK NY, 10027. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail a copy of any process against LLC to address of its principal office. Purpose: any lawful act or activity

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Public and Legal Notices • Request For Proposals Notice of Qualification of SCALE 4TH ASTORIA LLC. Authority filed with Secy. of State of NY (SSNY) on 06/10/21. Office location: NY County. LLC formed in Delaware (DE) on 06/07/21. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to: c/o National Registered Agents, Inc., 28 Liberty St., NY, NY 10005, also the registered agent upon whom process may be served. Address to be maintained in DE: c/o National Registered Agents, Inc., 1209 Orange St., Wilmington, DE 19801. 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.

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PUBLIC & LEGAL NOTICES NOTICE OF FORMATION OF Justice, Accountability, and Security Institute, L.L.C.. Articles of Organization filed with the Secretary of State of NY (SSNY) on June 14, 2021. Office location: NEW YORK County. SSNY has been designated as agent upon whom process against it may be served. The Post Office address to which the SSNY shall mail a copy of any process against the LLC served upon him/her is: 413 Grand Street, Apt. 1701, New York, NY 10002. The principal business address of the LLC is: 413 Grand Street, Apt. 1701, New York, NY 10002. Purpose: any lawful act or activity. Notice of Qualification of AGILE TELEHEALTH SERVICES, LLC. Authority filed with Secy. of State of NY (SSNY) on 06/15/21. Office location: NY County. LLC formed in Delaware (DE) on 06/22/20. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to: C/O CORP2000 INC., 720 14th St., Sacramento, CA 95814. Address to be maintained in DE: c/o Corp2000, 838 Walker Rd., Ste. 21-2, Dover, DE 19904. Arts of Org. filed with the Secy. of State, 401 Federal St. #4, Dover, DE 19901. Purpose: any lawful activities. ROADRUNNERS ENTERTAINMENT LLC. Arts. of Org. filed with the SSNY on 05/05/21. 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 Entertainment, P.O. Box 910, Westbury, NY 11590. Purpose: Any lawful purpose.

Notice of Formation of PSINY Enterprises, LLC. Arts. of Org. filed with Secy. of State of NY (SSNY) on 06/22/21. Office location: NY County. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to: 82 Soundview Dr., Port Washington, NY 11050, Attn: Adam Schaffner. Purpose: any lawful activities. STREET FOOD CHAAT LLC, Arts. of Org. filed with the SSNY on 05/ 24/2021. 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, 176 Bleecker Street, NY, NY 10012. Purpose: Any Lawful Purpose. GH Venture Partners, LLC filed Arts. of Org. with the Sect’y of State of NY (SSNY) on 6/8/2021. Office: NY County. SSNY has been designated as agent of the LLC upon whom process against it may be served and shall mail process to: The LLC, 410 Park Ave, Ste 730, NY, NY 10022. Purpose: any lawful act. Notice of Formation of Glam-Amor Skin LLC. Art. Of Org. filed with the SSNY on 06/18/21. Office loc: NY County. Prin. Office of LLC: 38W 32nd St, Ste. 1102, NY, NY 10001. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail a copy of any process against LLC to address of its principal office. Purpose: any lawful act or activity.

Notice of Qualification of ACRE SOLUTIONS L.P. Appl. for Auth. filed with Secy. of State of NY (SSNY) on 07/09/21. Office location: NY County. LP formed in Delaware (DE) on 04/30/21. Duration of LP is Perpetual. SSNY designated as agent of LP upon whom process against it may be served. SSNY shall mail process to Corporation Service Co., 80 State St., Albany, NY 12207-2543. Name and addr. of each general partner are available from SSNY. DE addr. of LP: 251 Little Falls Dr., Wilmington, DE 19808. Cert. of LP filed with DE Secy. of State, Div. of Corps., John G. Townsend Bldg., 401 Federal St., Ste. 4, Dover, DE 19901. Purpose: Any lawful activity. Notice of Formation of RGM GP LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 07/08/21. Office location: NY County. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to Philip J. Michaels, c/o Norton Rose Fulbright US LLP, 1301 Ave. of the Americas, NY, NY 10019. Purpose: Any lawful activity.

NOTICE OF FORMATION of Holtzman Helfman PLLC. Articles of Org. filed with Secretary of State of NY (SSNY) on 7/19/2021. Office location: NY County. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to: 56 Bennett Avenue, 4L, New York, NY 10033. Purpose: Any lawful activity. The LLC is to be managed by one or more managers.

Notice of Formation of 37A - 200 AMSTERDAM, LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 07/09/21. 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 RYM OWNER LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 05/21/21. Office location: NY County. Princ. office of LLC: 17 Henmar Dr., Closter, NJ 07624. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to the LLC at the addr. of its princ. office. Purpose: Any lawful activity. NOTICE FOR FORMATION of a limited liability company (LLC). The name of the limited liability company is NTT PROPERTIES LLC. The date of filing of the articles of organization with the Department of State was March 30, 2021. The County in New York in which the office of the company is located is New York. The Secretary of State has been designated as agent of the company upon whom process may be served, and the Secretary of State shall mail a copy of any process against the company served upon him or her to The LLC, 182 2nd Avenue, Apt 2, New York, New York 10003. The business purpose of the company is to engage in any and all business activities permitted under the laws of the State of New York.

NOTICE OF FORMATION OF LIMITED LIABILITY COMPANY. NAME: DEFT CHARTERS LLC. Articles of Organization were filed with the Secretary of State of New York (SSNY) on 07/06/2021. Office location: New York County. SSNY has been designated as agent of the LLC upon whom process against it may be served. SSNY shall mail a copy of process to the LLC, c/o Foreht Associates, LLP, 228 East 45th Street, 17th floor, New York, NY 10017. Purpose: For any lawful purpose.

Notice of Formation of THE IMMOBILARIE GROUP LLC Articles of Organization filed with the Secretary of State of New York (SSNY) on 6/11/2021. Office location: New York County. SSNY is designated as agent of the LLC upon whom process against it may be served. SSNY shall mail copy of process to TEFONE HERRING, THE IMMOBILARIE GROUP LLC 30 W141st Street, Suite 4N, New York, NY 10037 Purpose: Any lawful purpose.

Notice of Formation of FINEGOLD CENTRAL PARK, LLC. Arts. of Org. filed with Secy. of State of NY (SSNY) on 05/10/16. Office location: NY County. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to: Deborah Finegold, 10897 E. San Felipe Ave., Clovis, CA 93619. Purpose: any lawful activities.

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Life Sciences – Opportunities and Challenges The life sciences industry is considered one of the most promising for economic development in New York City, having the potential to create up to 40,000 good-paying jobs. Mayor de Blasio recently announced a plan to double the city’s $500 million investment in life sciences to $1 billion. This panel will discuss the future of the industry and what needs to be done to realize this potential.

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AUGUST 9, 2021 | CRAIN’S NEW YORK BUSINESS | 27

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VIRTUAL EVENT

Thursday, Sept. 23 12:30-1:30 p.m.