REBNY quadruples donations to Democrats ahead of elections

The industry group gave them $236,750 this cycle, up from $57,000 in the 2016 elections

New York /
Oct.October 31, 2018 09:50 AM

REBNY President John Banks and New York State Capitol in Albany (Credit: Albany)

The Real Estate Board of New York has ramped up its support for state Democrats ahead of the midterm elections, while decreasing contributions to Republicans.

Rent regulations are top of mind in the legislature this cycle, as Democrats that have campaigned to support tenants ousted six of eight incumbent Independent Democratic Conference members, who were accused of lining up with Republicans to support landlords.

Through its political action committee, REBNY has contributed $236,750 this year to Democrats, up from $57,000 in the 2016 cycle, according to the Wall Street Journal. While that increased, its donations to Republican committees dipped, but still remained higher, at $372,850, compared to $485,200 in 2016.

“Nothing is so black and white that we would say we’re one way or another,” REBNY’s president John Banks told the outlet. “Obviously if this blue wave is what it is, we’ll have to build new relationships with new legislators and we look forward to doing that.”

In addition to the base contributions, the group also reportedly gave $92,500 the Democratic Senate Campaign Committee, which had not received any contributions in the last cycle.

It’s estimated that 150,000 apartments in New York City have left stabilization since 1994, and a number of progressive Democrats are pushing to eliminate the practice of vacancy decontrol. [WSJ] — David Jeans


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
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
Sen. Charles Schumers aid President-elect Joe Biden agreed to assist NYC. (Getty)

NYC loses $2.5B in property taxes, gets $1B from FEMA

NYC loses $2.5B in property taxes, gets $1B from FEMA
President-elect Joe Biden's relief plan focuses on the coronavirus and opening schools. (Getty)

Biden’s $1.9T package would extend eviction ban, boost rent relief

Biden’s $1.9T package would extend eviction ban, boost rent relief
Gov. Andrew Cuomo announced that a major development surrounding Penn Station. (Getty)

Cuomo adds housing to $51B Midtown West project

Cuomo adds housing to $51B Midtown West project
Eric Trump and Donald Trump Jr. with President Donald Trump (Getty)

These are the companies dumping the Trump Organization

These are the companies dumping the Trump Organization
arrow_forward_ios

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

Loading...