Crains New York - May 6, 2013 - (Page 22)

SOURCE New York goes for Baroque LUNCH: CHARLIE O’DONNELL Continued from Page 21 was primed for growth in this genre because it was already popular in Boston and San Francisco, among other cities, as well as in Europe. “New York was really ripe for this kind of music, and then Juilliard jumped into it in a major way,” said Julian Wachtel, the musical director of the Trinity Baroque Orchestra, which is part of Trinity Wall Street church. Trinity’s or- American Classical Orchestra musicians primarily use period instruments. When the group appears at Alice Tully Hall on June 4, for example, the 49 instruments will be worth about $2.5 million, and will include a violin from 1690 worth $175,000 and a bass valued at about $250,000. By contrast, a high-end modern violin or reproduction can cost $18,000 to $28,000, while a cello could cost $30,000 to $45,000. At least oboe players get a break. A reproduction of a Baroque oboe costs about $2,000,while a new one can run about $10,000 because it is a more complicated instrument with more keys. ‘The audience for this type of music is very dedicated’ Primed for growth “The age of the instruments isn’t important. It is the sound,” said Benjamin Sosland, administrative director of the Historical Performance graduate program at the Juilliard School. Experts contend that even untrained ears can distinguish period instruments and reproductions from their modern counterparts. Juilliard started the program in 2009, which helped jump-start the early-music movement in New York City.The program at the prestigious institution imbued the genre with more gravitas and brought even more specialized musicians here. Experts said the city chestra had always had a Baroqueheavy repertoire, but when Mr. Wachtel arrived in 2009, he decided to focus on early music to set his group apart because the city is already laden with opportunities to hear modern classical music. It began its Baroque-only focus about two years ago. Mr. Wachtel is fortunate that his orchestra is attached to a wealthy church. Newer groups, such as New York Baroque Inc. and Dorian Baroque, are still trying to establish themselves. That’s never easy, but it can be especially chal- STRINGING IT TOGETHER IF YOU THINK it’s really difficult to become a successful musician, imagine trying to earn a living making specialty instruments. Gabriela Guadalajara started her Harlem-based business crafting Baroque string instruments five years ago, and said it’s still a struggle. It took a year to sell her first one, and last year she sold just three: a small violin for $5,000 and two violas da gamba for $11,000 each. Of course, it’s not a high-volume business—constructing one instrument can take three months. And there’s plenty of competition from other artisans, as well as inexpensive reproductions from China. Roughly half her income still comes from repairing instruments. “This is not something you do for the money,” said the Mexico City native. “You do it because it makes people happy to play your instruments.” Ms. Guadalajara discovered the joy that music can bring from her father, who loved listening to everything from classical to Mexican folk. She started playing the cello as a child but eventually realized she didn’t want to perform professionally, even though she wanted a career in music. When her mother learned about a violin-making school, Ms. Guadalajara knew she had found her dream job. She started the five-year course when she was 24 and eventually moved to New York to work for William Monical & Sons Inc., a Staten Island-based business that repairs and restores violins. Ms. Guadalajara said the combination of working there and playing an instrument has aided in developing her business. She developed contacts at Monical that have led to clients. The 36-year-old added, “It helps to play an instrument. I can try the instrument, really hear how it sounds.” —THERESA AGOVINO 22 | Crain’s New York Business | May 6, 2013 lenging when the economy remains shaky and more established nonprofit music groups are snapping up donations. Founders like Ms. Yang are trying to squeeze developing their orchestras between classes and gigs. “It’s a lot of work,” she said.“We are really grassroots and doing everything ourselves.” Marina Fragoulis, who founded Dorian Baroque last year, said she and her husband have spent about $10,000 of their own money on necessities for the group, such as lawyers and sound engineers. They are still waiting to get certified as a formal nonprofit by the state, and then they can decide the budget and fundraising needs. “We need to figure out how big of a season we want to have,” said Ms. Fragoulis. The orchestras’ programs differ vastly in size and scope. Trinity has weekly concerts, while the American Classical Orchestra will have four this season, which ends in June. The group’s budget is only $1.1 million. Vincent Gardino, executive director of the American Classical Orchestra, said the sharp focus on early music can be a benefit when seeking donations because it is less common. Music appreciation “The audience for this type of music isn’t large, but it is extremely dedicated,” said Mr. Gardino. He said the orchestra’s concertgoers are typically people who already enjoy classical music and are now finding an appreciation for this niche. The American Classical Orchestra plays Baroque, romantic and classical music, and Mr. Gardino estimates that about 80% of the orchestra’s musicians play original instruments that they either own or rent. Musician John Feeney owns a double bass from 1750 that’s worth about $250,000. Caring for the genuine antique brings its own challenges. Mr. Feeney keeps the instrument in a humidity-controlled room and won’t take it anywhere he can’t drive, which can be an issue because many musicians have to fly to their gigs. Some musicians transport their prized possessions by buying them a seat on a plane. Mr. Feeney won’t take that chance because he is afraid he will be forced to check his.When that happened years ago, he was allowed to personally place the instrument in the plane’s hold, something he said would never be permitted in the post-9/11 era. “We’ve all seen the way baggage is handled,” he said. “I won’t do it.” Ms. Yen isn’t focused on buying an antique. Right now, she is working on her bass to make it sound closer to a Baroque-era instrument. She said it’s been a problem to find craftsmen to complete the work, so the next time she buys an instrument, she’ll likely purchase a reproduction. “I think it is just easier,” she said. Ⅲ by Emily Laermer Mastering the art of funding startups C harlie O’Donnell knows New York tech. Mr. O’Donnell, 33, was one of the first 80 members of NY Tech Meetup in 2004. Around the same time, he launched his blog,This Is Going to Be Big, and now has 7,000 readers of his weekly newsletter. Last year, he founded Brooklyn Bridge Ventures, a Dumbo-based firm that provides early-stage funding to new firms. the right team to do it? Two: Are they building a business in a big enough market? If it’s too small of a market, it could be a business, but it’s not a venture-capital-backable business. And three: Is their plan a workable plan? What are they aiming to do, and will they accomplish enough that somebody else will come fund it? They seem like really simple criteria, but it eliminates 99.9% of startups. Are all the companies that you fund really in Brooklyn? Why do you focus on such young companies? I want to be part of its first $750,000 [in funds raised]. It’s where you can make the most impact, the valuations are realistic, and it’s fun. Two-thirds of the deals I do are from Brooklyn-based companies. I may have overindexed the branding. If I would have guessed beforehand, I would have said 20% of the companies I would fund would be in Brooklyn. How much are you willing to invest? I am aiming to raise $10 million to So why are you in Brooklyn, then? put to work in 30 companies. I have It all starts with where the talent is, raised a little more than $5 million so and easily 50% of the people who go to venture-backed startups far, so I am fundraising are in Brooklyn. It’s where myself and taking pitches younger people, designers at the same time. Brad and developers are living. Feld [co-founder of TechStars, a large startup accelDo the Bronx, Queens or erator program] recently BRICK NYC Staten Island have a shot at invested in my fund. He’s 22 Warren St. (212) 577-2725 becoming tech centers? really big into building the www.bricknyc.com The Queens tech guys tell startup communities, and a great story. They say they is also supportive of firstAMBIENCE: Dim have cheap commercial time venture funds. lighting and exposed brick real estate, which they do. walls contrast How do you find so many The Roosevelt Island camwith its busy City potential companies to fund? pus will be there, too. The Hall location. It’s about access to deal only place in the city you flow. That’s not a science, can walk to from that camWHAT THEY ATE: Ⅲ Stuffed pepper and startups aren’t like the pus is Queens, so it’s feasiⅢ Market salad public market. If I know a ble that there will be new with grilled company that is building startup companies. And chicken some interesting commuthere is a ton of public Ⅲ Farmhouse nications hardware in transportation in Long Issalad with grilled Williamsburg, it’s not listland City. The Bronx is chicken ed anywhere. I have access hard because there is no TAB: $45.73, plus tip in a way you don’t. It’s strategic reason why anyabout having the opportubody would be there. nity to make connections. It’s some- There’s no transportation hub, and thing that takes time, and you have it’s only a 22-minute ride on Metroto be out there. North from Fordham to Grand Central anyway. Staten Island is How do you determine which companies hard, too. Queens would have the you are going to invest in? best shot of those three. It’s more art than science. I’ve looked at 2,000 companies, and I’m funding How does transportation affect the eight. It’s not about picking the startup community? eight. It’s about eliminating the oth- It creates a free flow of ideas. It also creates access to all these Meetup er 1,992, and the eight are leftovers. communities. The thing about New What are the cardinal sins that those York is that it’s conducive to running 1,992 companies do? these groups because you can meet There are a few. One: Is the challenge somewhere at 7 p.m. It helps create that they are taking on something this thriving ecosystem. It creates they are capable of taking on? Are they value and shared knowledge. Ⅲ WHERE THEY DINED INSIDE TIP: The restaurant is off the beaten path and less crowded than other nearby eateries frequented by City Hall workers. http://www.bricknyc.com

Table of Contents for the Digital Edition of Crains New York - May 6, 2013

THE INSIDER
IN THE BOROUGHS
IN THE MARKETS
BUSINESS PEOPLE
REAL ESTATE DEALS
SMALL BUSINESS
OPINION
GREG DAVID
REPORT: DIVERSITY
THE LIST
CLASSIFIEDS
NEW YORK, NEW YORK
SOURCE LUNCH
OUT AND ABOUT
SNAPS

Crains New York - May 6, 2013