The Real Deal New York

Blackstone prez Tony James to step down from Port Authority

His exit is part of a wave of departures from bi-state agency
June 09, 2017 07:00AM

Tony James

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