REBNY bets on winners rather than pro-business candidates

New York /
Sep.September 10, 2013 09:55 AM

Real estate’s Jobs for New York political action committee has spent $7 million on City Council races, but several of the candidates getting the cash are less sympathetic to the industry.

In the last election cycle, the industry threw its financial clout behind relatively conservative, pro-business Democratic candidates who ended up losing to progressive candidates backed by the pro-labor Working Families Party. This year, the Real Estate Board of New York is betting on candidates more likely to win – candidates who are also backed by the WFP – but far more liberal than the ones they backed last time around, according to Crain’s.

REBNY’s Steven Spinola told the publication that the overlap between its candidates and WFP’s isn’t surprising because employment growth is the key issue.

“Jobs for New York backs candidates who will work to expand the city’s middle class through the creation of good jobs and housing,” Spinola said in a statement. “It’s not surprising there is overlap between our candidates and ones backed by various labor unions. Given the role income-producing properties play in New York City, that alignment only makes sense.”

The PAC’s emphasis on negative campaign literature, however, could make future lawmakers wary of REBNY’s power, as The Real Deal reported. [Crain’s]  – Hiten Samtani


Related Articles

arrow_forward_ios
John Banks
High expectations: A look at John Banks’ 4 years at REBNY
High expectations: A look at John Banks’ 4 years at REBNY
John Banks
John Banks to step down as REBNY president
John Banks to step down as REBNY president
REBNY Awards
Newmark Knight Frank wins REBNY retail award for Alamo Drafthouse deal in FiDi
Newmark Knight Frank wins REBNY retail award for Alamo Drafthouse deal in FiDi
Governor lays out bold real estate agenda in State of the State speech (iStock, Getty Images)
Hochul: Supersize NYC apartment buildings, replace 421a
Hochul: Supersize NYC apartment buildings, replace 421a
Manhattan retail rents fell without tourists, office workers
Manhattan retail rents fell without tourists, office workers
Manhattan retail rents fell without tourists, office workers
CoStar CEO Andy Florance
CoStar comes home to play
CoStar comes home to play
Small developments dominate as new building filings return to pre-pandemic levels
Small developments dominate as new building filings return to pre-pandemic levels
Small developments dominate as new building filings return to pre-pandemic levels
Commercial brokers’ confidence at all-time high: REBNY survey
Commercial brokers’ confidence at all-time high: REBNY survey
Commercial brokers’ confidence at all-time high: REBNY survey
arrow_forward_ios

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

Loading...