Ray McGuire draws $1.1M in real estate contributions

Mayoral candidate has raised $3.2M through a PAC

New York /
Mar.March 17, 2021 01:45 PM
Ray McGuire with supporters Aby Rosen, Michael Fuchs, Richard LeFrak and Daryl Roth (Getty, LeFrak by John Lamparski/WireImage, Roth by Patrick McMullan/Getty )

Ray McGuire with supporters Aby Rosen, Michael Fuchs, Richard LeFrak and Daryl Roth (Getty, LeFrak by John Lamparski/WireImage, Roth by Patrick McMullan/Getty)

Ray McGuire is gathering support from real estate moguls in the race to become New York City’s next mayor.

New York for Ray, a political action committee, has raised $3.2 million, including $200,000 from RFR Holdings head Aby Rosen, and $100,000 from his partner at RFR, Michael Fuchs, Bloomberg News reported.

McGuire is lagging in the polls behind the former U.S. presidential candidate Andrew Yang, Brooklyn Borough President Eric Adams and others. But the PAC provides McGuire an advantage — namely, millions of dollars of that can be spent on ad buys — that could boost his chances in the June 22 Democratic primary. Decisions for the PAC must be made independently of the candidate’s campaign.

In total, real estate-related contributions have made up more than $1.1 million to the super PAC supporting McGuire. Other donations have come from Broadway producer Daryl Roth (the wife of Vornado Realty Trust CEO Steven Roth), who donated half a million dollars, and entities controlled by Queens developer Richard LeFrak.

Although McGuire told Bloomberg News that he is “unbeholden to anyone” and that he “ain’t making no deals,” he has campaigned as an advocate for businesses, including real estate development.

He’s also received financial support from Wall Street, including $250,000 from former American Express CEO Kenneth Chenault.

[BloombergNews ] — Sasha Jones





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