R
eal estate executives have been cautious in their response to Mayor Eric Adams' indictment on bribery charges. While some industry leaders continued to donate to his campaign, big-name developers who previously contributed have held off. The latest campaign filings show that donors like Ben Ashkenazy and the Dushey family of Jenel Real Estate each gave the maximum $2,100. Others, such as Tao Hospitality Group's Jonathan Schwartz and Nest Seekers' Tamir Shemesh, also made donations.

    The mayor reported receiving over $270,000 in donations between October 8 and January 11, with real estate professionals contributing north of $40,000. However, this figure is based on donors who self-identified as working in the industry or were easily identified as executives. In September, Adams pleaded not guilty to five criminal charges stemming from an alleged bribery scheme.

    Interestingly, some real estate leaders have shown support for other candidates. Two Trees Management's Jed Walentas donated $400 to Sen. Zellnor Myrie, who released a housing plan aiming to add and preserve one million homes over the next decade. Developer Eli Lever also gave $250 to Myrie after attending an event hosted by friends.

    Myrie's proposal includes allowing owners of vacant apartments to collect full voucher amounts from voucher holders. The New York Apartment Association is supporting a bill this year that would take this approach to help struggling rent-stabilized owners. Meanwhile, the mayor's legal fund has struggled, raising only $2,200 over the last few months and now having a negative balance of almost $1 million.

    Campaign donations over a three-month period provide limited insight into how voters within specific industries feel about their mayoral choices. The mayoral race is already crowded, with others expected to throw their hats in the ring, including former Gov. Andrew Cuomo.