SL Green, Durst donate $425K each to council races through election law loophole

TRD New York /
Jul.July 17, 2013 11:00 AM

Two of New York City’s largest real estate developers have funneled hundreds of thousands of dollars to City Council campaigns through a loophole in the state election law, Crain’s reported.

SL Green and the Durst Organization donated about $425,000 each to a political action committee known as Jobs for New York, which backs City Council candidates with positions favorable to the real estate industry. The funds were donated through three limited liability corporations; a firm contribute $150,000 through each LLC.

Glenwood Management donated $425,000 through 17 LLCs. Other firms that gave more than $4 million through LLCs include Jack Resnick & Sons, the Related Companies, Meringoff Properties, Newmark Grubb Knight Frank, the Brodsky Organization, Tishman Speyer, Crain’s said.

Jobs for New York, spearheaded by the Real Estate Board of New York and advised by a coalition of organized labor, raised $5.3 million in its first round of fundraising. The PAC said it aimed to raise $7 million to $10 million and has spent $1.4 million to date, as previously reported. [Crain’s]Mark Maurer


Related Articles

arrow_forward_ios
The Daily News Building at 220 East 42nd Street and SL Green CEO Marc Holliday (Credit: Getty Images)

SL Green puts Daily News building up for sale

SL Green puts Daily News building up for sale
SL Green snags private-equity firm at One Vanderbilt

SL Green snags private-equity firm at
One Vanderbilt

SL Green snags private-equity firm at
One Vanderbilt
SL Green’s locks in big bank lease at Hudson Yards redevelopment site

SL Green’s locks in big bank lease at
Hudson Yards redevelopment site

SL Green’s locks in big bank lease at
Hudson Yards redevelopment site
Isaac Zion

SL Green’s co-CIO leaving firm

SL Green’s co-CIO leaving firm
Durst Organization chairman Douglas Durst and Amazon CEO Jeff Bezos with 1133 Sixth Avenue (Getty, Google Maps)

Another blow to Amazon in court battle with Durst Organization

Another blow to Amazon in court battle with Durst Organization
A rendering of the site at 44-02 Vernon Boulevard in Long Island City and Douglas Durst

Owners of LIC’s “Lake Vernon” notch win in tug-of-war with Durst

Owners of LIC’s “Lake Vernon” notch win in tug-of-war with Durst
Douglas Durst, One Five One, and Tik Tok CEO Kevin Mayer (Getty, Google Maps, iStock)

The biggest new tenant in New York City is… TikTok

The biggest new tenant in New York City is… TikTok
The Durst Organization president Jonathan Durst and 655 Third Avenue (Google Maps)

Mitsubishi International renews big lease at Durst’s 655 Third Avenue

Mitsubishi International renews big lease at Durst’s 655 Third Avenue
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...