Blackstone prez Tony James to step down from Port Authority

His exit is part of a wave of departures from bi-state agency

New York /
Jun.June 09, 2017 07:00 AM

Two years after being appointed by Gov. Andrew Cuomo, the Blackstone Group’s Tony James is stepping down from the Port Authority of New York and New Jersey.

James, who serves as the private equity firm’s president and chief operating officer, resigned from the agency’s board, following a slew of other recent departures, Crain’s reported. RXR Realty’s Scott Rechler left the agency last year, and attorney Steve Cohen resigned in November after only a few months on the board.

The departures come at a contentious time for the agency. Cuomo recently moved to increase his influence over the agency and fought with New Jersey chairman John Degnan over the bus terminal proposed for Manhattan’s West Side. The governor told New York board members to boycott a meeting in November, but James attended anyway, along with another member, former Vornado Realty Trust CEO Michael Fascitelli,

The governor is already making moves to find replacements. Last week, he nominated union boss Gary LaBarbera to the board. [Crain’s] Kathryn Brenzel


Related Articles

arrow_forward_ios
The bus terminal was built in the 1950s and designed to serve one fourth of the riders it sees today. (Getty)
Port Authority to raze, replace “hell on earth” bus terminal
Port Authority to raze, replace “hell on earth” bus terminal
Financial disclosures show extent of Trump Org losses
Financial disclosures show extent of Trump Org losses
Financial disclosures show extent of Trump Org losses
Will Catsimatidis switch parties? (Getty)
Republican or Democrat? Catsimatidis picks his poison
Republican or Democrat? Catsimatidis picks his poison
Vijay Dandapani, president & CEO, Hotel Association of New York City (Getty)
Hotel owners ask NY for break on tax penalties
Hotel owners ask NY for break on tax penalties
NAR's Vince Malta (Photos via NAR; Pixabay; iStock)
NAR suspends federal political donations after Capitol attack
NAR suspends federal political donations after Capitol attack
President Joe Biden (Getty; iStock)
President Joe Biden’s real estate checklist
President Joe Biden’s real estate checklist
Photo illustration of Sen. Brad Hoylman, who championed the pied-à-terre tax. (Getty)
Pied-à-terre tax revenue estimate slashed by 41%
Pied-à-terre tax revenue estimate slashed by 41%
Kirk Goodrich, president of Monadnock Development, is opposed to the bill sponsored by Bran Lander. (Getty, Monadnock Development)
Council bill favoring nonprofits for affordable housing will hurt minority-led firms: developers
Council bill favoring nonprofits for affordable housing will hurt minority-led firms: developers
arrow_forward_ios

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

Loading...