Category Archives: News

New York Rentals

News, , ,

Between 1945-63, there were commercial rent controls in the city of New York.  That has long gone so how are small businesses in the region meant to thrive? Indeed, in 2016 Sunnyside Chamber of Commerce member Patricia Dorfman said:

“It feels as though a great tsunami is coming towards us: big real estate dominating the city. You’re talking about life rafts and water wings when a tsunami is coming.”

So what plans are there to rectify this?  At the end of next month the plan is for a hearing to be held on the Small Business Jobs Survival Act (SBJSA), a Bill sponsored by Ydanis Rodriguez.  Should it come to fruition it would mean landlords would have to give commercial tenants 180 days before lease expiration on whether it will be renewed and if not, provide a “valid legal reason.”  A 10 year lease could also be offered, thus putting tenants in a more powerful position to “demand arbitration if they believe the rent increase is too much.”

According to Friends of SBJSA member David Eisenbach there is “extreme optimism that the essential principles of the bill will remain intact.”

It is hoped that the hearing will provide an opportunity for policymakers to hear real stories about the closing of small businesses in New York City due to lack of control over rent increases.

Before getting too excited though, according to a recent article in The Real Deal by David Jeans, the law: “would not stand up in court…lacks legal grounding and has been proposed several times in the past.”  It would also cause “inconsistencies with state law.”

Networking, Networking, Networking

News, , ,

In a recent Forbes article, seven Forbes New York Business Council members put out their recommendations for New York annual events they find useful:

  1. Philip Smith of PJP Marketing Inc. recommends the Affiliate Summit East for digital marketing
  2. Henry Croft of Henry’s recommends the annual Raw Wine fair for networking in the industry.
  3. Yana Zaidiner of Token Payments Inc. says New York has too many wonderful opportunities to just recommend one and that it really is industry dependent.
  4. Steven Libman of Integrity Holdings Group, LLC recommends his annual joint chamber event on the beach attended by local chambers of commerce for networking and fun.
  5. Peter Renzulli of Bookkeepers To Go Inc., likes the Casino Night for Garden of Dreams event.
  6. Sergio Mannio of Sergio Mannio Studio believes the NYCxDESIGN provides a wonderful way for designers to see what others are doing locally and globally.
  7. Yasir Ali of Rivews recommends industry-based events such as those on Facebook, Meetup and Eventbrite.

M&A’s in New York

News, , ,

Lots of business movement in New York.  Here we look at AppNexus and Health Plus Management.

Having earned a reputation as “one of the hottest names in the ad tech industry” following its 2014 $1.2 billion VC valuation, it was hardly surprising that it was going to go to the next level of being sucked up by a major corporation or going public.  In this case it is AT&T which reaps the benefit in its alleged purchase deal worth approximately $1.6 billion.    The idea behind this purchase is AT&Ts bringing AppNexus into its newly created advertising and analytics business.  The move is also indicative of AT&Ts recognition of the importance of voluminous customer data to more effectively sell adds in various formats.

Moving to a completely different industry we learn of the recent plans by Health Plus Management LLC to purchase Advanced PMR Management.  According to CEO and founder of Health Plus, Stuart Blumberg:

“Advanced PMR epitomizes stellar services and consummate patient care. We are thrilled to take on management and support of APMR and we expect tremendous success in working together to develop APMR into a strong, multi-specialty, platform for best in class rehab care in NJ.”

This move will create the environment for Health Plus’s development of a presence in New Jersey, in a way that it has done since its establishment almost two-and-a-half decades ago.

 

ECS Federal Acquisition

News, , ,

On Assignment – America’s 2nd largest IT staffing firm – is in the process of purchasing the service technology and engineering company ECS Federal for $775 million (in cash).  Once the sale goes ahead, the current CEO George Wilson will remain at the helm with his management team.  Indeed, Wilson said that the firm will remain with the “same strategy, same management team, more resources.”   One thing will change slightly though is the name; on April 2, 2018, when it is all final, the company will be called ASGN Inc.

Roy Kapani will be leaving the firm he established in 2001 but is very positive about the move calling it a “terrific outcome for our company, partners and talented employees.”

In its investor presentation, a deeper comprehension into the sale was put forward:

“One of the largest inhibitors of growth in the federal sector is timely finding and placing technical talent.  On Assignment’s recruiting capabilities will enhance ECS’ performance and value proposition versus government services peers.”

The opportunities that will be available after this acquisition will be access to greater “digital, creative and life sciences [as well as providing clients of On Assignment with] access to ECS’ cyber, cloud, artificial intelligence and agile development capabilities.”

Life and Work in New York

News, , , ,

What is it like to really live and work in New York?  For those thinking about the move, is this really doable?  And, if so, is it a real challenge or do the benefits outweigh the difficulties?  Here we take a very brief look at some of the factors to be considered.

First off the infamous WeWork phenomenon – that is not news in an of itself – is reaching a new level.  Instead of simply using the space for work one can also kinda live there now too with the Financial District’s WeLive phenomenon.  Spaces up to four bedrooms large can be rented out for a day or even a year!  For those looking for something smaller that is possible too as studios can also be rented for short- and long-term uses.

The advantage of this is that everything comes included – all the silverware, utensils and anything possible that you would ordinarily need to live.  You can make use of the bar, laundry room and swimming pool as well; it really has become a home away from home and for those traveling for work who need the space this is a great option.  It also works for those considering a more permanent move – of themselves or their entire businesses – to the New York area.  It is kind of like a trial to see how working would be in practice.

Another area we looked into was transportation.  Reports show it’s actually not bad at all.  According to Times contributor Jonathan Mahler, “In New York, movement—anywhere, anytime—is a right.”  Unlike some other large cities, there is just one flat fare when it comes to the city’s public transportation – the Metro.  So you “don’t’ get penalized for not being able to live centrally.”  Which is actually very positive considering how pricey that can be. And that also probably accounts for why NYC has become such a hub of culture.

 

 

Bolstering Small Businesses

News,

Developed by Andrew Cuomo, the Innovation Vouchers Bill seeks to facilitate the struggle small businesses and startups undergo.  In trying to raise the money for their R&D work, they need backing.    At the same time, educational institutions have the resources for the development of these ideas but lack the projects in real life.  This venture from Cuomo puts the two groups together.

In other New York tax-related news, members of the city council showed support for retailers in the region with their approval for an action that would decrease the city’s Commercial Rent Tax. With this reduction, around 2,700 Manhattan SMB owners will benefit.  As well, elected officials seeking to assist independent neighborhood retailers will positively impact quality of life in New York City. Once the neighborhoods become more attractive, there is an increase in property values and tax revenues in the region.