Crains New York - March 11, 2013 - (Page 22)

SOURCE DINNER: NOAH TEPPERBERG by Lisa Fickenscher The nightclub that went to Harvard buck ennis N RICH WOOD: Violin maker Christophe Landon’s instruments sell for $70,000 apiece. Violin exhibit comes to NY Continued from Page 21 to data provided by CremonaFiere. There were no specific numbers for stringed instruments alone, but experts say it is one of the fastestgrowing parts of the overall market because so many young people are now studying the violin, and more craftsmen are jumping in to manufacture the instruments for them. ‘Most important market’ “The United States is the most important market for string instruments in the world,” said Massimo Bianchedi, chief executive of CremonaFiere, in an interview from his office in Italy. The growth in the number of violin makers stems from demand. With the development of programs like the popular Suzuki method of teaching violin,there are an increasing number of youths playing stringed instruments in the U.S. and worldwide. At the same time, the prices for the highest-quality violins are reaching astronomical levels. Last June, a 300-year-old Stradivarius once owned by Lord Byron’s granddaughter sold at auction for a record $16 million. The violin was one of just 600 made by Stradivari still in existence. “The old great Italian instruments have become very expensive,” Mr. Reuning said. “If you’re a musician looking to afford a fine violin, your options are becoming more and more limited. Luckily, there has been a real renaissance in the making of new instruments,and the U.S. is a very vibrant market.” According to CremonaFiere, Violin and bow makers say they are busier than ever there are roughly 7,300 violin and bow makers in the world, with about 1,700 of them based in the U.S.These modern makers say they are busier than ever. Mr. Reuning says his business selling modern violins has doubled in the past five years. MUSICAL MOOLAH TONY FINLEY, a partner at the Artist Rare Instrument Fund, will be among the panelists speaking at Mondomusica’s “Sound Investments” roundtable. Mr. Finley started the fund, which invests in high-end Italian violins, violas and cellos, in 2010 with Christophe Landon, a violin maker, and Edward Papier, an investment expert. The fund has tapped individuals or hedge funds that will invest anywhere from $1 million to $10 million for a minimum of five years. Mr. Finley says they will close the fund at $100 million, and they expect to reach that point within the next three months. At that time, Mr. Finley and his partners will begin acquiring up to 30 instruments as investments—some of which will be sold in the short term, and others that may be held for years, depending on the market. The trio is even planning to buy shares of instruments owned by famous musicians like Joshua Bell and Yo-Yo Ma—something Mr. Finley says isn’t done by anyone else. “An artist can sell us 15% of their instrument and yet still get to play it,” —MIRIAM KREININ SOUCCAR Mr. Finley said. 22 | Crain’s New York Business | March 11, 2013 Christophe Landon, a violin maker whose instruments sell for $70,000 apiece, has been crafting violins for 38 years.Originally from France, he headquartered in New York in 1986 and has opened four branches around the world, including a new shop in Shanghai. U.S. contingent Mr. Landon, who will be exhibiting at the fair, says staging the violin event in New York will be much more effective than having it solely in Cremona, a remote town in Italy. “Though there is a 400year-old tradition of violin making in Cremona, there are no musicians there,” he said. “There are many more musicians in New York and a fair amount of makers as well.” Of the 200 exhibitors at Mondomusica,52 will be from the U.S.,with the second-largest contingent coming from France. In addition to the booths, the expo will feature numerous exhibitions, concerts and workshops throughout the city, including a concert by the Verdi Quartet to commemorate the 200th anniversary of Giuseppe Verdi’s birth and a performance of the Sistine Chapel Choir at St. Patrick’s Cathedral. One event, called “Stradivari Versus the Modern Violin,” at Cooper Union on March 16, will feature a scientific test in which a panel of experts will be blindfolded while they listen to a number of modern and historic violins to see if they can tell the difference. Another highlight is expected to be a roundtable called “Sound Investments,” where experts will discuss the attractiveness of antique and modern musical instruments as an asset class. “We want to attract not only the dealers and the makers, but also the final buyers, like musicians and collectors,” Mr. Bianchedi said. “We want to broaden the potential clients for our vendors.” Ⅲ LISTEN to a discussion at CrainsNewYork.com/podcasts ightlife impresario Noah Tepperberg is on a tear. He and his partners in the Tao Group have opened six venues in two years, including a major revamp of the 10-year-old nightclub Marquee NYC, which has been the focus of a graduate class at Harvard Business School since 2009. The Ivy League institution has been studying Marquee’s longevity—an unusual distinction in a fickle industry. Altogether, Tao Group employs 3,000 and operates a dozen restaurants and clubs. Mr. Tepperberg, 37, who owns hot spots Lavo in New York and Las Vegas and Tao at the Venetian in Las Vegas, recently opened a high-end chophouse in New York, the Arlington Club, with celebrity chef Laurent Tourondel. How did you get into the business? My father was a pediatric neurologist, and my mother is a travel writer. I got exposed to nightlife through my brother, who had a band that was very popular in New York City in the 1980s. I grew up in the West Village, so I lived close to the clubs. I started working in the business when I was 16, handing out fliers and helping my brother set up his band at different places. What’s the state of New York nightlife? People are not going there now to see a certain crowd. They are going there for the music, the dancers, the whole ambience rather than the scene. It’s more of a DJ-driven venue now, and that’s why we moved the DJ booth to the middle of the stage from the side. What was your reaction when Harvard approached you to do a case study on Marquee? I asked my mom whether I should do this because it would take a lot of time, and they wanted to follow us around and expose a lot of things. I didn’t realize how significant it was. Then my friends who went to other Ivy League master’s programs told me it was a real honor. The class is taught one semester a year. It focuses on how we extended the lifespan of the club. So what’s the answer? WHERE THEY DINED MARBLE LANE, one of several venues Tao Group operates in the Dream Downtown Hotel 355 W. 16th St. www.marblelane .com (212) 229-2336 AMBIENCE: Low lighting with a lounge vibe off the lobby of the Dream Downtown WHAT THEY ATE: You have to come to the class. Do you fit the stereotype of the nightlife executive who indulges too much in the lifestyle? No, I’m balanced. When I’m out, I’m always the sober guy in the place. I don’t drink much. I don’t do drugs, and I’ve always been that way, because I’m really working when I’m out. Having that discipline is key. I enjoy seeing these places that we built come alive at night, but I’m here to work. Ⅲ Peekytoe It’s thriving, with more crabcakes with What are your hours? places opening than ever. Coney Island I like to say that I have a 9But it’s way more regulattartar sauce; to-5 job—except it’s 5 ed. There are changes to Prosecco a.m.! I start answering codes and the processes to Ⅲ Peruvian purple potato gnocchi in emails at 9 a.m. And I start get permits and licenses to tomato butter my night around 10:30. make sure that things are sauce being done properly. What would people be The nature of nightlife TAB: $57.99, including tip surprised to learn about you? has changed. People aren’t They are mostly shocked going to one place but to two or three a night. And there are that I’m a chess player. It’s one of my more clusters of neighborhoods favorite hobbies. I feel like people are always surprised to learn that I have where nightlife is happening. two brothers and two sisters. Not What’s the biggest change at Marquee that many people expect someone NYC, which recently reopened after a who grew up in Manhattan to have a four-month renovation? big family. Ⅲ INSIDER TIP: Diners in the know can order “Murder by Burger,” which is not listed on the menu. It’s $26 and comes with eight toppings, including bacon and Comté cheese. http://www.marblelane http://www.CrainsNewYork.com/podcasts

Table of Contents for the Digital Edition of Crains New York - March 11, 2013

IN THE BOROUGHS
IN THE MARKETS
THE INSIDER
BUSINESS PEOPLE
CORPORATE LADDER
OPINION
GREG DAVID
REAL ESTATE DEALS
REPORT: SMALL BUSINESS
STARTUP GUIDE
CLASSIFIEDS
NEW YORK, NEW YORK
OUT AND ABOUT
SNAPS

Crains New York - March 11, 2013