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Upper West Side’s Youngest Residents Have Somewhere to Crawl

It may be back-to-school season now for most children, but some NYC kids will have to wait until the first half of 2016 for the doors to open. That’s okay, though, because there may be members of the first class who have yet to be born.

The new facility is a 5,500-square-foot day care center slated to open on the Upper West Side, at 101 West 85th Street between Columbus and Amsterdam, which could help ease longstanding complaints from New York City parents that decent child care is hard to come by.

The center, located on the lower level of a 41-unit residential building, will be run by All My Children Daycare & Nursery School, according to Manhattan-based real estate investment firm Eastern Consolidated, which arranged the 15-year lease. The latest site forAll My Children, which describes itself as “NYC’s Finest Eco Conscious Daycare” and takes children aged 3 months through 4 years old, will reportedly enroll about 50 children.

“Preschools and daycare centers are in high demand on the Upper West Side because of the density of families living in the neighborhood,” Eastern Consolidated broker Ravi Idnani said in a statement. “As soon as an appropriate space becomes available in this area, these entities want to lease it.”

Indeed, 42 percent of the Upper West Side’s approximately 227,000 residents are either married with kids or single parents, according to Realtor.com. Citywide, the number of children aged 0-4 is projected by the NYC Department of City Planning to rise from 540,878 in 2000 to 544,773 in 2020 across all boroughs.

The market value of the 73,764-square-foot 19th-century brownstone as a whole was estimated by the city’s finance department at $8.4 million through June 30 of this year, with a net operating income of $1.1 million. It was built in 1900 and renovated in 1987.

The asking rent at the Upper West Side location, which includes 4,200 square feet in the basement and a 1,200-square-foot outdoor garden, was $85 a square foot, local media reported.

This will be All My Children’s second Manhattan location. It already has a day care center at 110-112 Ridge Street, between Stanton and Rivington streets on the Lower East Side, which is one of several Ridge Street properties for which General Electric issued a $17 million loan in April.
NBA Hall of Famer and real estate investment firm founder David Robinson bought the Ridge Street portfolio for a total of about $50 million, The Real Deal reported in April. All My Children also has 12 locations in Queens and Brooklyn.

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Alex Veksler

Head of Content

Alex Veksler has 16 years of finance, data analysis and project management experience. He is a former vice president at Morgan Stanley, where he worked on product control of equity and fixed-income derivatives products as well as various projects involving finance and technology, such as revamping risk attribution and balance-sheet systems for profits and losses. Alex has previously worked at hedge funds, most recently as a director at Exigent Capital. He has a bachelor’s in computer science from Yeshiva University and an MBA from New York University.

Ely Razin

CEO

Ely Razin founded CrediFi in 2014 with Battery Ventures. A rare combination of seasoned corporate executive and technology entrepreneur, Ely previously served as global head of board governance for Thomson Reuters Accelus and head of business law for Thomson Reuters, after the software company he founded was acquired in 2004. The company, Expert Ease Software, developed AI-based software that automatically summarizes key deal terms for transactions in fields including capital markets, M&A and real estate. Ely began his career as a corporate and securities lawyer, and holds an LLB and MBA from York University.

Frank Muhlon

Head of Transactions

Frank Muhlon oversees CredifX, the commercial real estate financing marketplace that mines the CrediFi database at its core. Prior to joining CrediFi, Frank served as vice president of Northeast region business operations for online CRE property trading platform Ten-X, which has closed over $40 billion in transactions since its inception. He has also held key positions at Orix USA/Houlihan Lokey, Silverstein Properties and Trammell Crow Company. Frank received his master’s degree in real estate finance from New York University and his bachelor’s in finance from Rutgers University.

Charles Mctiernan

Head of Sales

Charles Mctiernan comes to CrediFi from Ned Davis Research Group and Roubini Global Economics, where he was the global head of sales. He also spent more than 10 years at Reuters America Holdings, where he held a number of senior sales leadership roles, including head of solutions sales and head of global accounts. Charles, who received his bachelor’s in economics from East Carolina University, has more than 25 years of experience in technology, data and research sales.

Amichai Levy

VP R&D

Amichai Levy is the former VP of R&D at Israeli high-tech firm Payoneer, where he developed its signature cross-border payment platform and integrated it with existing bank technology. In his prior role at Ness Technologies, Amichai was a key player in developing an electronic case filing system for Israel’s courts. He has over 20 years of experience in software engineering.

David Fajgman

Head of Finance

David Fajgman brings over 14 years of financial and managerial experience to CrediFi. Prior to joining the CrediFi team, he served as finance director of Bioness Neuromodulation Ltd., which develops and manufactures medical devices involved in neurological rehabilitation. He has previously worked in multiple finance roles at Thomson Reuters and as an accounting and consulting manager at Ernst & Young, where he was responsible for a wide range of clients, including companies listed on the Nasdaq and privately held high-tech companies. David is an Israel-licensed certified public accountant and has a bachelor’s degree in business and accounting.

Liat Bar David

Head of Human Resources

Liat Bar David has over nine years of human resources experience, primarily focused on the high-tech industry. She is a former HR business partner at semiconductor solutions provider Broadcom, where she was responsible for onboarding processes, benefits, policies, training and development, performance management and employee retention. Liat holds a bachelor’s in communication and human services and a master’s in human resources and services, both from the University of Haifa.