UPDATED, 9:15 p.m., July 18: A mere seven real estate firms — including Brookfield Office Properties, the Durst Organization and Jack Resnick & Company — donated more than half of the $5.26 million raised so far by a new political action committee backed by the Real Estate Board of New York, a review of state records by The Real Deal reveals.
Some 113 companies or individuals affiliated with 18 well-known city developers made the contributions to the PAC, called Jobs For New York, which was created to advance a pro-growth political agenda for the city, according to records filed this week with the New York State Board of Elections.
Jobs for New York has reportedly said that unions were also supporting the cause, but the donor list did not reveal any as of the latest filing in July.
Nearly all the firms had a residential component to their business, although some such as Newmark & Company and SL Green Realty are focused on commercial real estate.
In addition, there were two main levels for contributors, one at $425,000 and a lower level at exactly half that, or $212,500. It was not clear why.
Real estate firms have long fretted that once the pro-development Mayor Michael Bloomberg is out of office, a new mayor and City Council could turn away from his agenda and raise the cost of doing business in the city.
A spokesperson for Jobs for New York was not immediately available for comment, but the group has said in the past that it plans to contribute to City Council races.
A spokesperson for the Durst Organization, said the company supported the PAC, “Because Jobs for New York is supporting candidates who want to create good jobs and more housing.”
Jobs for New York expects to raise between $7 million and $10 million for the 2013 election cycle, Crain’s reported yesterday in a story listing many of the PAC’s donors.