Powerful landlord group RSA has nearly $2M in political dry powder

Glenwood Management, Parkoff Org and LeFrak help fill campaign coffers

TRD New York /
Jul.July 17, 2017 04:15 PM

RSA President Joseph Strasburg

The Rent Stabilization Association has a political war chest of nearly $2 million after donors like Glenwood Management, the Parkoff Organization and the LeFrak Organization helped fill the coffers earlier this year.

Through two of its affiliated political action committees, the RSA has $1.98 million on hand to spend on state political races, according to recent campaign finance filings with the state Board of Elections.

The larger of the two PACs, the Neighborhood Preservation Political Action Fund, had $1.2 million on hand as of July 13, records show.

Major contributors include Carole Litwin Pittelman, daughter of late Glenwood Management founder Leonard Litwin, and her family’s real estate firm, which contributed a combined total of $65,000. The Parkoff Organization donated $40,000, and the LeFrak Organization opened its checkbook to the tune of $30,000.

Last week former State Assembly speaker Sheldon Silver successfully had the courts overturn his 2015 corruption conviction, which centered on political donations from companies like Glenwood Management that were traded for political favors.

A December analysis by The Real Deal and ProPublica found that Glenwood, operating mostly through LLCs, gave at least $9 million to state politicians between 2000 and 2014.

In the RSA’s latest filings, BFC Partners’ managing principal Donald Capoccia personally forked over $10,000, and Pamela Harrison-Ludwick of the Brooklyn-based family firm M&R Management donated $12,500.

Through the first six months of the year, the Neighborhood Preservation PAC raised a little more than $491,000 and spent almost $173,000, with the largest donations going to state Republican committees as well as the Conservative and Independence Parties.

The smaller of the landlord group’s political committees, the RSA PAC, had nearly $770,000 on hand as of mid-July after raising more than $387,000, mostly from a large contribution the RSA made.

The Real Estate Board of New York, through its Jobs for New York committee and Real Estate Board PAC, had roughly $391,000 at its disposal, campaign finance filings show.

Related Articles

Blackstone CEO Steven Schwartzman and Stuyvesant Town (Credit: Getty Images)

After authorities vowed review of Stuy Town deal, Blackstone changes course on vacancies

Real Capital Analytics data showed that New York’s multifamily market had a very slow July. (Credit: iStock)

New NYC rent law “beginning to shut down investment”

Some landlords say they plan to close the door to vacant apartments and wait for the laws to change (Credit: iStock)

Creative ways NYC landlords are getting around the new rent rules

Jay Martin, James Whelan and Joe Strasburg

Rent-pocalypse 2.0: Real estate industry reacts to tenant demands

Alexandria Ocasio-Cortez, Bernie Sanders and Elizabeth Warren

By the numbers: Breaking down national housing agendas from the far left

Cases to challenge tenant residency have declined since June (Credit: iStock)

More rent-law fallout: Landlords back off “absentee” tenants

Nuveen CEO Vijay Advani, Blackstone President & COO Jonathan Gray and one of the Texas properties

Blackstone just sold off a 29M sf national industrial portfolio

10 Hanover Square (Credit: Google Maps)

FiDi landlord violated rent stabilization regs for years: lawsuit