MediaMath Inc. will be moving its headquarters downtown to 4 World Trade Center. The global technology firm has signed a 15-year lease with Silverstein Properties Inc. for 106,000 square feet. Early next year, MediaMath will consolidate more than 300 employees at 4 WTC from three existing Midtown offices. The 450-employee technology company projects it will add 200 jobs this year and create some 1,000 new jobs in the city over the next five years. MediaMath considered other locations in New York and New Jersey. An incentive package, including a $5.8 million a federally funded Job Creation and Retention Program grant jointly offered by Empire State Development and New York City Economic Development, was a major factor in keeping the company in New York City. obility for its workforce." MediaMedia, which was founded in the city in 2007, was the first to introduce demand-side platform, a digital-advertising management system.
H&M opened its new Fifth Avenue flagship store on July 17th. The largest outlet for the company in the city, the store will house each and every one of H&M's product categories, including the home goods collection, the first H&M store in the United States to do so.
Vice Media, the online-content company that has grown into an international symbol of hipness along with its home base of Williamsburg, is doubling the size of its presence in the Brooklyn neighborhood. The company's move to a 60,000-square-foot former industrial building at South Second Street and Kent Avenue will allow it to add 525 employees to its 400 who now work in Williamsburg, where it is one of the largest tech and creative employers. Three-quarters of its workers live in the neighborhood, the company said. Founded in 1994 in Montreal as a punk magazine, Vice moved to Brooklyn in 1999 and has been in Williamsburg since 2001. Since then, it gradually has consumed much of the space on its side of the block. This year alone, Vice has moved into a former bus depot and the former Beacon's Closet thrift store space. It now occupies 30,000 square feet of space. The company, run by co-founders Shane Smith and Suroosh Alvi, is set to receive $6.5 million in state tax incentives if it meets its jobs target.
Bank of New York Mellon, in a move that boosts the already-improving fortunes of Lower Manhattan, has decided to move its headquarters to Brookfield Place downtown. The deal is for about 350,000 square feet at 225 Liberty St., the former 2 World Financial Center. The agreement, confirmed by several industry sources plugged into the deal, definitively ends a saga that began when BNY Mellon announced last year it would put its landmarked tower at 1 Wall Street up for sale. BNY was negotiating both for the Brookfield tower and also for a building in Jersey City. While the smart money was on the bank staying in Manhattan, it was never a sure thing. Its decision is good news both for Brookfield, which is rapidly refilling space left behind by Merrill Lynch, and for downtown as a whole.
Queens is leading the outer boroughs in new hotel development, spurred by one of its hottest neighborhoods, Long Island City, which has become a magnet for nearly every prominent hotel brand. Queens added about 500 rooms this year through mid-April, or 9% more than the same period last year, according to STR, a research firm that tracks hotel data. The majority of hotels in Queens are clustered around LaGuardia and JFK, but the significant growth is occurring outside the airport markets. Of the 50 properties currently under construction in the city, 46% are being built outside Manhattan, with 10 in Queens, nine in Brooklyn, three in the Bronx and one in Staten Island, according to NYC & Company, the city's tourism bureau. In Long Island City, the hotel boom has been especially pronounced. There are 23 properties with 2,008 rooms and another eight under construction, including two Wyndham properties and an Aloft by Starwood Hotels & Resorts. The demand is buoyed, in part, by some of the large employers based in the neighborhood, such as JetBlue, Citibank and MetLife, but also by intrepid overseas travelers, many of whom are repeat visitors to the city. The Ravel Hotel in 2008, a boutique property at the foot of the Queensboro Bridge. is adding to its waterside property, building a 10-story tower that will have 48 rooms, a rooftop pool, event spaces and a third-floor garden. Another stylish boutique hotel, the Paper Factory—in a former industrial building—opened earlier this year in Long Island City. Other areas of Queens are adding hotels to their landscape. A 96-room Parc Hotel opened recently in Flushing, which is mainly attracting day-trippers and travelers from Asia. That's reflected in how the hotels are marketed. The Parc Hotel's front sign, for example, is prominently displayed in English and Chinese. The airport hotel market hasn't changed much in recent years, with a few exceptions: The 350-room Crowne Plaza JFK opened earlier this year. It had originally been a Hilton before falling into disrepair.
The first beneficiaries of the governor's START-UP NY program are heavily concentrated upstate, but two will be moving into incubator space owned by SUNY Downstate—where they will enjoy a completely tax-free existence for 10 years. Americord Registry, a cord-blood bank, and Modern Meadow, a synthetic meat cultivator, were chosen as part of the START-UP NY initiative launched last fall by Gov. Andrew Cuomo. Americord Registry, a six-year-old company, will be moving more of its operations to Brooklyn in the coming months. The company collects and stores stem cells from umbilical cord blood for future medical use, such as treating leukemia or lymphoma—cases in which a bone marrow donor could be hard to find. The company currently contracts with a lab in Indianapolis to process collected cord blood, said chief executive Marty Smith-Myer. "We probably wouldn't be doing this expansion if it weren't for this program," he said. Mr. Smith-Myer aims to open a lab inside the biotech incubator on SUNY Downstate's campus by October, and plans to hire about 10 employees to work there. Modern Meadow, which grows synthetic meat and leather products, will be moving to New York from Columbia, Mo., where the company was founded. The company will move into the BioBAT incubator operated by SUNY Downstate at the Brooklyn Army Terminal in Sunset Park, Brooklyn. The company's founder, Andres Fogacs, previously said he was relocating to be closer to New York's restaurant and fashion industries. Modern Meadow will invest $6.5 million into the move; Americord Registry will invest more than $402,000. The SUNY Downstate Medical Center acted as a sponsor for the two startups, vetting their business and financing plans and helping them apply to the state program. The university broke ground in May 2014 on an expansion for its biotech incubator, located next to its central Brooklyn campus, which will double the facility's available space. For the university, proximity to biotech companies means more job opportunities for students—an important factor at a time when jobs in academia are scarce.
The developer behind the Condor Hotel in South Williamsburg is building another hotel near the Wythe Hotel, the successful pioneer of what now has blossomed into a string of hotel projects in the neighborhood. Developer Zelig Weiss has acquired 121 N. 12th St., a parcel that fills the entire block front between North 12th and North 13th streets along Wythe Avenue. Mr. Weiss just closed on an $18.35 million loan from Madison Realty Capital. A 320,000-square-foot hotel can be erected there with about 180 rooms. The new hotel, to be called the Level Hotel, is one of several that is being built in North Williamsburg along Wythe Avenue, where commercial zoning prevents the wave of residential development that has overtaken much of the rest of the neighborhood. Heritage Equity Partners, for instance, is also building a 150-room hotel around the block from the Wythe.
Tech darling Etsy is expanding in Brooklyn. The online marketplace for web-savvy artisans has signed on as the anchor tenant for the new DUMBO Heights project underway in the former Watchtower buildings. The 9-year-old company, which already has headquarters in the neighborhood, plans to nearly double its workforce with 300 new jobs in the next five years. The move to the new 200,000-square-foot space at 117 Adams St. is scheduled for 2016. Etsy is expected to join a host of tech and creative companies in the former Jehovah’s Witnesses’ stronghold. Five buildings, connected by skyways, have been rebranded Dumbo Heights, a tech-friendly campus in the midst of Brooklyn's Tech Triangle.
Smartling, a cloud-based, one-stop shop for the translation needs of global companies, like Sony, Spotify and Nokia, has raised $25 million in a Series D round that will be used to increase market share as it looks ahead at an IPO. Founded in 2009, Smartling raised $24 million in a Series C round in October, and spent very little of it, according to founder and CEO Jack Welde. The latest addition to the company war chest provides "an opportunity to be a little more aggressive and take more" of the $35 billion online translation market, he said in an interview. That means possible acquisitions and more hiring in sales and marketing as the company leaves lower Park Avenue for 22,000 square feet at 1375 Broadway, at West 37th Street, in June. Smartling currently has 70 employees in New York. In its new quarters it will have room for 200—a number Mr. Welde expects to reach within a year and a half.
Work is starting on the hotel that will be Shakespeare's next-door neighbor. The city Buildings Department issued a demolition permit in late April for the small commercial building at 95 Rockwell Place – which will be mostly torn down and replaced with a high-end boutique hotel designed by high-profile architect Thomas Leeser. After the demolition, “rubble walls” on the sides of the building will be left standing, said Steve Pfister of Second Development Services (SDS), one of the firms partnering on the hotel. City Finance Department records indicate it will be a Marriott Autograph Collection property. It will be directly adjacent to the Shakespeare-centric Theatre for a New Audience, which opened in November to wide acclaim – and three blocks away from Barclays Center.
The fast growing San Francisco-based mobile payments startup Square will soon have an East Coast headquarters in the heart of SoHo. The company, whose co-founder Jack Dorsey also co-founded Twitter, will be moving into 40,000 square feet this summer. Square already has 35 employees in New York, but says it will add 350 at its new location. The company already has a presence in New York City, the product of its 2012 acquisition of SoHo design firm 80/20.
People with relatively minor health problems are benefitting from the growing number of walk-in "urgent care" companies, such as CityMD and PM Pediatrics, in New York City. In the last four years, more than 20 of these centers have opened in the New York region. CityMD, the region's largest urgent-care chain, has 12 locations and another 10 under construction. Two CityMD competitors, Cure Urgent Care and PM Pediatrics, said they are adding locations. San Francisco-based One Medical Group, a primary-care company with a similar urban retail model, has six New York outlets
Google is signing on for another 75,000 square feet at Chelsea Market, the retail and office building where the tech firm already has nearly 320,000 square feet. The deal is the third expansion for the company, which took an additional 90,000 square feet at the property in the beginning of the year and then subsequently tacked on another 18,000 square feet. Google also took a huge lease at nearby 85 10th Avenue late in 2013, signing on for about 360,000 square feet of space there.
Facebook is expanding its office in midtown south by 60%. The mega social networking firm is adding 60,000 square feet to the office it leased at 770 Broadway less than a year ago. Last May, the company took 100,000 square feet in the building. The 60,000 square foot expansion was woven in that initial lease as an option that Facebook was initially expected to exercise after two years. Instead, the company is taking the addition after less than a year in another sign of how the midtown south market continues to see dramatic growth driven largely by the city’s booming technology and media sectors.
A Brooklyn-based studio will convert a defunct Staten Island prison into a sprawling film and TV production complex, which will become the country’s second largest outside of Hollywood. Greenpoint’s Broadway Stages won a bid from the state to buy the former Arthur Kill Correctional Facility for $7 million and spend $20 million to build five sound stages with 100,000 square feet of studio space on the 69-acre site. According to forecasts, the plan will generate 800 jobs over the next two years and as many as 1,500 jobs over the next five years.
ADP Technology Services Inc. will invest more than $11.5 million to locate its new ‘Innovation Lab’ in New York City. The company plans to establish a 25,000 square-foot software development facility that will create 110 jobs, including the hiring of software developers and data scientists. Additionally, in order to secure the support of the New York City Regional Economic Development Council, ADP agreed to participate in an internship and work experience program such as Pathways in Technology Early College High School, or an analogous program that is consistent with the company’s staffing and internship plans.
Dropbox, the San Francisco-based file sharing company that recently raised $350 million in financing, is expanding into New York City. It is opening an office in temporary space near New York University, and plans to have 25 employees there by the end of the year. The company, which has 200 million users, plans to use its New York office to grow its base of business customers, which currently number around 4 million. Dropbox announced the office's opening and said it would soon hold a recruiting event. The move follows the re-launch in November of Dropbox for Business, a streamlined version of a product first introduced about a year ago. The new version includes controls for separating business files from personal ones, and has helped accelerate growth among business customers.
The Greater Jamaica Development Corp. announced that it has reached a deal to sell BRP Companies a development site near Jamaica station in Queens where the buyer will build a $225 million residential tower with retail space in its base. BRP Companies will build a 400-unit rental apartment building with 80,000 square feet of retail space in its base at the corner of Sutphin Boulevard and Archer Avenue, just steps away from the train station. BRP Companies became interested in the parcel when it lost out on a nearby site on Sutphin Boulevard and 94th Avenue. There another development firm, Able Management, won the bid to build a 24-story hotel on land that is jointly owned by Greater Jamaica Development and the Metropolitan Transportation Authority. Greater Jamaica Development has reached deals for other development in the neighborhood. The developer Blumenfeld Development Group is planning to build a $50 million retail project and parking garage near the corner of Jamaica Avenue and 168th Street, about a mile from the train station.
The MTA has awarded two key East Side Access contracts to put the finishing touches on newly dug tunnels and install communications systems in the Long Island Rail Road's future Grand Central Terminal concourse. The two contracts, valued at about $628 million, will see companies line 10,000 feet of new tunnels stretching from Queens to Manhattan's East Side with concrete walls, and also put in telephone, two-way radio, public address, digital signage and fire detection systems in Grand Central, the Metropolitan Transportation Authority said Wednesday. New Rochelle-based Totor Perini Corp. won the $333.6 million contract to install the communications systems and other infrastructure support, including ventilation, tunnel drainage, tunnel lighting, plumbing and fire protection. Frontier-Kemper Constructors, of Sylmar, Calif., was awarded a $294 million contract to build the tunnels' concrete lining, including embedded mechanical, electrical and plumbing systems. The company will also rehabilitate the 40-year-old 63rd Street Tunnel through which LIRR trains will travel as part of East Side Access and perform other work at new ventilation facilities for the project. East Side Access will link the LIRR to Grand Central Terminal with the goal of saving about 160,000 daily riders up to 40 minutes a day in their commutes.
The owners of 70 Pine St. — Rose Associates and DTH Capital — have signed a contract with Furnished Quarters to manage 132 extended-stay hotel units in the 66-story landmark. The hotel will be on floors 3-6 of 70 Pine, which will consist mostly of 664 luxury rental apartments. The hotel portion will open this fall, around the same time as the first apartments.
A new eating scene is coming to Brookfield Place, the reconfigured retail and restaurant portion of what used to be called the World Financial Center. Brookfield Properties’ $250 million reinvention of the office complex’s public spaces doesn’t simply replace the stores and restaurants that previously occupied the corridors and courtyards adjoining the Winter Garden. HPH restaurant group partners Peter Poulakakos and Paul Lamas will soon launch Le District, a French-themed marketplace and eating zone adjoining the Winter Garden’s south side at the foot of 225 Liberty St. (the previous 2 WFC), with 1,000 seats indoors and outdoors. And the ground floor of Le District sits directly beneath a second mammoth venue, Hudson Eats — a 35,000- square-foot noshing zone that landlord Brookfield is racing to complete. Its 14 high-end “fast-casual” counters of such foodie faves as Blue Ribbon Sushi and Dos Toros Taqueria will serve 600 diners. In addition, there will be five freestanding restaurants along Brookfield Place’s northern Vesey Street boundary.
Two boutique clothiers recently took a total of roughly 13,000 square feet at Industry City in Brooklyn, solidifying the complex's growing cachet as a destination for fashion firms outside of the garment district in Manhattan. Steven Alan, a New York-based clothing and home furnishing company inked a roughly 11,600 square-foot lease for seven years; and Ball and Buck, a men's clothing company from Boston which makes all of its products in the U.S.A, took roughly 1,500 square feet for three years at the six-building industrial complex in Sunset Park. Each outfit plans to house a showroom as well as their design offices in their new space. Steven Alan also plans to do its photography there. The two companies will join a handful of other fashion tenants like Maria Castelli and Lana Stepul, who already occupy space in the complex. Industry City boasts about 12 cut and sew companies, which are smaller factory-style operations where clothing is actually made. These firms have long taken advantage of special zoning in the Garment District that allowed them to operate there. But more recently many have moved over to Industry City. Their presence, in turn, has created added incentive for front-end fashion firms like Ball and Buck to move in.
IBM announced that it's investing over $1 billion to give its Watson supercomputer its own business division and a new home in the heart of New York City. The new business unit will be dedicated to the development and commercialization of the project, including giving it new headquarters in the heart of NYC. About $100 million will go toward investing in startup companies that are building apps to be run through Watson. Eventually the business, which started out as a team of 27 people, will employ about 2,000, including several hundred at the new headquarters, IBM said.
Marriott International is opening the tallest U.S. hotel building in New York as tourism in the city reaches a record. The 68-story tower at the corner of Broadway and 54th Street houses a 378-room Courtyard hotel and a 261-room Residence Inn. The dual-brand short-/long-term stay concept is a way to appeal to different audiences and budgets and will be operated under a franchise agreement between Marriott and New York-based builder Granite Broadway Development. The property will have a shared entrance and lobby on 54th Street for both its hotels.
New York University is crossing the bridge to Brooklyn. In January, the university opened the NYU Polytechnic School of Engineering—its 14th school in total—in downtown Brooklyn. The school is the culmination of NYU's merger with Polytechnic University. The engineering school has the potential to transform south Brooklyn into a hub of tech innovation that can eventually rival other parts of New York City and California. New York University has already added space in the area and has been sharing some courses with Polytechnic since the merger was announced in 2008. Katepalli Sreenivasan, the president of Polytechnic, will be the dean of NYU's new engineering school.
The first of six New York City walk-in clinics run by Cure Urgent Care will open in May 2014 on Manhattan's Upper West Side. The urgent-care facility at 2689 Broadway will take up 4,460 square feet on the ground floor of a supportive-housing building run by the West Side Federation for Senior Supportive Housing. . Cure Urgent Care is looking to "expand heavily in the city," with at least five more clinics opening in the next 18 months. The partners are considering relatively dense neighborhoods where hospitals have recently closed, including Greenwich Village, TriBeCa and Battery Park City. The company has another clinic set to open in Huntington, L.I., in April.
Email advertising company LiveIntent says email's actually more powerful than ever as a marketing tool. The Manhattan-based company has just raised $20 million to continue the rapid expansion of its service, which utilizes ad-tech tools to turn email newsletters into advertising platforms capable of real-time consumer targeting. All told, the company has raised nearly $33 million since its founding in 2009. In an interview, LiveIntent CEO Matt Keiser said the investment would help the company continue a growth spurt that saw revenue triple in 2013. He expects to double the number of employees this year from 85 and to expand the company's new lower Manhattan headquarters to 45,000 square feet from its current 21,000.
In another win for Downtown Brooklyn's once-beleaguered Fulton Street Mall, department store Nordstrom will open an off-price store at 505 Fulton St. Scheduled to debut in spring 2014, the 41,000-square-foot Nordstrom Rack will be located on the second floor of the building that houses T.J. Maxx and H&M on the ground floor.
When Whole Foods debuts its long-awaited Brooklyn location in the Gowanus neighborhood this year, it will boast another first—a commercial-scale rooftop farm. The 20,000-square-foot greenhouse facility, operated by local grower Gotham Greens, will produce the Butterhead lettuce, tomatoes and herbs that consumers will find downstairs in the vegetable aisle. The Gowanus store is expected to open in late fall. If the model proves successful, it will be repeated at other locations.
Food Cellar, a natural-foods supermarket based in Long Island City, has inked a deal for 14,500 square feet on the ground floor and basement of Linc, located at at 43-10 Crescent St., in the neighborhood's Court Square section. The store will open in the summer of 2014.
Global music streaming service Spotify announced that it would beef up its engineering team at its U.S. headquarters offices in New York City, adding 130 more technologists by the end of 2014, giving the company a total of approximately 200 engineers. Headquartered in Stockholm, Sweden, Spotify has been growing rapidly in the U.S. since its launch here two years ago. It is adding new features to its service while also building an advertising sales and marketing operation aimed at making the free service profitable. Engineers will be working on initiatives related to social, radio, mobile and music discovery in addition to building the advertising monetization platform.
Downtown Brooklyn has lured a new tenant. New York University is launching an interdisciplinary center to train budding game makers in the design, coding and artistic theory of the rapidly growing game industry. The center-known as the Media and Games Network is slated to open in the fall in a 40,000-square-foot space in an office building at 2 Metrotech Center. It will house programs ranging from a master's degree in game design to a doctorate in educational communications and technology.
Amazon.com Inc. is looking to expand. The online retailer is looking for 300,000 to 500,000 square feet of office space in Manhattan, which would be a big jump from the approximately 100,000 square feet Amazon currently occupies. The search is said to be at early stages, but if it leads to a lease on the upper end of its range, it would be one of the largest expansions by a company in the city in years. A 500,000-square-foot space typically fits 2,000 to 3,000 workers.
LinkedIn, the popular social network for business professionals, is expanding its office in the Empire State Building. The Mountain View, Calif.-based company has signed a 10-year lease for 40,780 square feet of space at the tower, bringing the firm's total footprint in the building to 73,000 square feet. LinkedIn moved into the building's 25th floor last year, establishing a corporate office mainly for sales staff.
Choice Hotels International, the company behind brands like Econo Lodge, Clarion and Comfort Inn, broke ground for two Manhattan hostelries. The activity comes less than 24 hours after the Silver Spring, Md.-based outfit began work on a hotel just north of the city in White Plains. All three hotels will be under a brand aimed at business travelers, Cambria Suites. It will be Choice's highest-end option to date, according to Steve Joyce, the company's chief executive. The Times Square location will be the first to open in the city, in the winter of 2014. The Chelsea hotel is scheduled to open in the following quarter.
After spending the past two decades scouring Manhattan for the right location and the right deal, Nordstrom, the upscale department store, has finally found a home. The chain signed a binding agreement to open New York City’s first new full-scale department store, a 7-story, 300,000-square-foot behemoth in the base of a planned skyscraper on the north side of 57th Street, east of Broadway. But if the company spent two decades looking for the right site, it will have to wait until 2018 to move in.
Online auction giant eBay is the latest tech giant to expand in New York. The company announced that it would launch a Technology Center of Excellence in the Flatiron district. The company said the center would expand to more than 200 people over the next couple of years. eBay is following in the footsteps of Facebook. The social media giant previously announced it would establish a major engineering center in Manhattan, and has been busy staffing it. Facebook, in turn, followed Google, whose meatpacking district offices are the search giant's largest operations center outside of California.
Microsoft announced it is opening a Microsoft Research Lab in New York the 13th such lab in the country. Microsoft is in the process of hiring an initial team of 15 researchers. The lab's location, still to be determined, will be in Manhattan.
JPMorgan Chase & Co., the biggest U.S. lender, is cutting hundreds of technology support employees in its corporate and investment bank amid a revenue decline, people with knowledge of the move said. Workers in locations including New York, Tampa, Chicago and Dubai were notified of the cuts this month. Wall Street firms are trimming expenses by paring support employees and moving personnel to lower-cost locales amid a decline in fixed-income trading. The bank, which acquired Washington Mutual Inc.'s bank units and Bear Stearns Cos. during the financial crisis, is streamlining the group's technology systems.
Coach will lay off 150 of employees from the NYC corporate headquarters, as the company struggles to restructure its operations to attract a more fashion conscious clientele.
Manhattan Ford Lincoln is closing and will lay off 245 workers effective 09/30/2014.
The Rivington House, a Manhattan residential care facility, is closing and will lay off 231 workers beginning 10/31/2014.
Swissport USA which handles cargo at JFK Intl Airport will lay off 180 workers effective 9/3/2014.
Rogue Tomatoe, a Mid-Manhattan restaurant, is closing 8/9/2014 and laying off 105 workers. The company hopes to reopen in new space at an as yet undetermined date.
Viola Sweets, a Brooklyn Bakery, is closing 7/21/2014 and laying off 72 workers.
IAC Acoustics, A Bronx-based manufacturer of noise control products and systems, will cese operation by the end of 2014. Layoff of the company's 101 workers will 7/18/2014.
Layoffs of 485 employees of Staff Co, who worked at Long Island College Hospital, are now scheduled to be completed by 9/30/2014.
American International Group Inc., the largest commercial insurer in the U.S. and Canada, is shifting workers to locations including the Philippines and Texas to reduce costs. "We're talking several thousand jobs migrating to these centers," Peter Hancock, chief executive officer of AIG's property-casualty business, said in an investor presentation in New York. The New York-based insurer had 64,000 employees at the end of 2013. Mr. Hancock didn't say from where the jobs will move. CEO Robert Benmosche has warned employees against buying homes in the New York area, people familiar with the matter said last year. "We're moving people out of some higher-cost cities into those lower-cost cities in America and some offshore as well," Mr. Benmosche said in February in an interview on Bloomberg Television.
Penn Station is terminating the leases of its fast-food restaurants. KFC, Pizza Hut and eight other eateries operated by the Riese Organization on the lower, Long Island Rail Road level of the commuter hub will be closed in a couple of months. Landlord Vornado has decided it's time for a change along the busy West 33rd Street passageway, which connects Seventh and Eighth avenues. Riese has held the leases for 42 years. Some 130 workers will be laid off
The seafarers union is pulling up anchor and setting sail for Jersey City, abandoning its headquarters on the edge of Gowanus. The move will mark the first time in nearly a century that the Seafarers International Union, which represents deckhands, ferry crews and other sea merchants, will not have a New York City presence. The turf was too valuable, and the lucre too substantial, for the sailors to ignore. In December 2013, the labor organization sold its headquarters, at 635 Fourth Ave., to Bushburg for $10 million. The real estate developer plans to build up to 91 rental apartments, including some affordable units, with a funky exterior design. The labor group transferred its training facility and a host of other regional offices from Brooklyn to a massive campus in Piney Point, Md., in 1967. The school now sits on the site of a former Navy torpedo testing center, which includes 90 waterfront acres and a vast fleet of training boats. As for the new Gowanus development, the proposed building will rise to 12 stories and is expected to be finished in about three years.
Gwynnie Bee, a little-known online distributor of plus-size clothing for women, took a deal it couldn't refuse fromOhio. The company plans to lay off 42 warehouse workers in Long Island City, Queens, in July in order to move its distribution operations to Columbus, where it plans to create 400 new jobs. It will receive generous tax breaks to do so. In Columbus, Gwynnie Bee has taken a 200,000-square-foot warehouse facility and pledged to add $13 million in payroll during the next few years in exchange for a 60% payroll tax cut. The chance to grow aggressively and cheaply was apparently so attractive to Gwynnie Bee that it never reached out to any New York city or state agency for a counteroffer.
The downward spiral of the e-commerce site Fab continues, with reports that it's going to trim its New York City office to less than 30 people, down from a few hundred. "Fab is going to reduce its NY office down to 20 to 25 people" and is "selling their warehouse in NJ," a source close to the company told Valleywag. This lines up with an earlier TechCrunch report that said that the company would be seriously down-sizing. Fab filed notice with the NYS Department of Labor that it would lay off 81 workers by 8/31/2014.
Flushing Bank has announced it will move its headquarters from Lake Success to larger quarters in Uniondale. About 160 workers now in several locations in New York City, mostly Queens, will join the 85 workers now in Lake Success in the new, leased, 90,000-square-foot headquarters in the RXR Plaza. The move will take place in phases between the last quarter of this year and first quarter of next year. Flushing got support in the form of property tax abatements from the Town of Hempstead Industrial Development Agency because the relocation brings about 250 new jobs into the town from the city and Town of North Hempstead.
Intercontinental New York Barclay Hotel located in Midtown Manhattan is closing for renovation and laying off all of its 447 workers. The layoffs are scheduled to occur in the last week of June 2014.
The Visiting Nurse Service of New York is eliminating 775 positions, one of the largest health care mass layoffs in New York City that does not involve the closing of a hospital. The organization is the largest nonprofit home care agency in the country. Those affected are a mix of clinical and administrative staffs, with less than 3% of VNSNY's total clinical workforce receiving layoff notices. Home care agencies face new legislation and regulations that have added to their costs. In addition to the layoffs, VNSNY has been overhauling the way it delivers home and community-based care. As part of the state's redesign of its Medicaid program, state health officials are shifting long-term care away from a fee-for-service model to a managed-care model. According to the Home Care Association of New York State, an industry trade group, agencies that have signed contracts with managed-care plans are getting reimbursed at Medicaid rates that are 7.45% below what they were previously paid under the fee-for-service model. The Visiting Nurse Service of New York cited "the significant, ongoing changes to home and community-based health care dictated by both federal and state reform" as the reason for the layoffs. The layoffs are on top of another 570 positions, less than 3% of its 19,000-person workforce, that were cut in October as part of an earlier corporate-wide restructuring.
Madelaine Chocolate, among the largest employers in Rockaway, has put its 5.4-acre building complex at the foot of the Crossbay Bridge up for sale. The facility was hit hard by Hurricane Sandy, causing about $50 million in property damage and lost sales. The loss of the 65-year-old chocolatier, which at one time employed about 450 people, would be a blow to Rockaway’s economy. Madelaine owners would only say in a statement that they could be moving to another location in or out of New York. When the factory partially reopened in October, the owners said they were depending on lawmakers to help obtain grants and loans needed to rebuild. At that time, the company was only able to bring about 125 employees back to work on a limited production schedule.
Loehmann's, after it's third trip into bankruptcy, is liquidating. All stores were closed by mid-March 2014. At least 300 workers lost their jobs.
Atlantic & Pacific Grill Associates LLC, operators of Park Avenue Cafe will close the restaurant and lay off 135 workers effective 1/1/2014.
Smithfield Associates LLC, closed it's Pastis Restaurant and layed off 200 workers on 1/1/2014.
Bloomberg LP reorganized it's law unit laying off 17 workers on 9/30/2013. An additional 78 workers were let go 12/31/2013.
Sky Chefs Inc, which provides meal service to airlines, layed off 137 workers between 12/4/2013 and 3/31/2014.
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