New York City’s biggest real estate developers made a big splash in the political arena this month just before the election, forking out more than $2.5 million to Jobs for New York, a pro-industry political action committee backed by the Real Estate Board of New York.
The developers are bankrolling a PAC which is is spending lavishly to unseat several Democrats at the poll November 4, and to back Republican candidates in several open races, a review of the latest campaign filings show.
The top donor over the last month to the PAC was Brookfield Property Partners, led by CEO Ric Clark, which contributed $170,800. Next was TF Cornerstone, led by Thomas and Fred Elghanayan, with $170,600, followed by Tishman Speyer, led by co-CEOs Jerry and Rob Speyer, with $168,300. Rounding out the top five was Stephen Ross’ Related Companies, which gave $163,600, and Leonard Litwin’s Glenwood Management, which contributed $162,600.
The figures come from a analysis by The Real Deal of campaign finance records filed this month with the New York State Board of Elections.
Other major donors include: SL Green Realty, led by CEO Marc Holliday, which gave $156,100 and Gary Barnett’s Extell Development, which gave $100,000. Many of these industry heavyweights are also big financial backers of Gov. Andrew Cuomo.
Though Glenwood was among the PAC’s biggest supporters, it also gave $10,000 through two affiliates to the Putnam County Democratic Committee, which is backing two of the Democratic state senators, Justin Wagner and Terry Gipson — the very same candidates that Jobs for New York is seeking to unseat.
Brookfield and the Durst Organization declined to comment. Others did not immediately respond to a request for comment.