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With less than three weeks to go to the New Jersey gubernatorial election, the real estate industry has a resounding favorite: Republican nominee Jack Ciattarelli.
The industry poured about $1.3 million into the candidate’s coffers through individual contributions, or more than double what it gave to Democratic nominee Mikie Sherrill, whose total came in at a comparatively paltry $567,000.
The Real Deal analyzed the state’s campaign filings for individual donors, which are capped, from the start of the race through Friday by filtering contributors’ occupations and employers for any connection to real estate. The search included everyone from agents to mortgage brokers to property managers to architects. The figures don’t include donations to super political action committees, which don’t have contribution limits.
Real estate issues have been central in the election, particularly as New Jersey is one of the most expensive states for housing and is the most densely populated state in the country.
The gubernatorial race has attracted record levels of donations, as Sherrill, a U.S. congresswoman who represents many wealthy suburbs west of New York City, and Ciattarelli, a businessman and former state representative, are battling to take over Gov. Phil Murphy’s place on Nov. 4. New Jersey’s election commission anticipates that this year’s gubernatorial race will cost more than $200 million, the bulk of that stemming from independent expenditure committees, or PACs.
Sherrill so far has raised almost $26 million from individual contributions and Ciattarelli, over $25 million. Real estate-related donations comprised about $1.8 million of the nearly $51 million — roughly 4 percent — that has been poured into this election from individual contributions alone, according to TRD’s analysis.
In New Jersey, individuals can give up to $5,800 in each of the primary and general election cycles, for a maximum of $11,600.
The real estate bigwigs who have donated to Ciattarelli directly include Jeff Kurtz of Kamson Companies and his wife Sharon Kurtz ($17,400), investor Alex Adjmi and his wife Frieda Adjmi ($11,600), Richard Chera of Crown Acquisitions ($8,600), Midtown Equities’ Jack Cayre ($5,800) and the Alfred Sanzari Enterprises, a major New Jersey developer ($2,500).
Some of the big-name industry donors to Sherrill include: Durst Organization’s Douglas Durst ($11,600), Loews’ Jonathan Tisch and his wife Lizzie Tisch ($11,600), SL Green’s Marc Holliday ($5,800) and the Brodsky Organziation’s Daniel Brodsky ($1,000).
A poll from Quinnipiac University released last week showed that 50 percent of likely voters backed Sherrill, 6 percentage points more than Ciattarelli.