realestate

Cuomo Super PAC Secures $2.3 Million from Real Estate Interests

Fix The City" Super PAC backs Cuomo's mayoral bid, raising $2.3 million from real estate and big donors.

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super PAC backing Andrew Cuomo's mayoral bid has amassed $2.3 million in donations, with a significant portion coming from real-estate interests and high-profile donors in the past week. Among the notable contributors is billionaire Stephen Ross, founder of Related Companies, who donated $50,000. His firm developed Hudson Yards and he also owns the Miami Dolphins.

    Other major donors include billionaire construction magnate John Fish, who gave $250,000 through his Suffolk Construction firm, which has worked on projects like the Waldorf Astoria renovation. Lawyer Joseph Belluck and real-estate firm RFR Holdings, founded by Michael Fuchs and Aby Rosen, also contributed $100,000 each.

    The Fix The City super PAC can accept unlimited contributions, unlike candidate campaigns, which are limited to $2,100 from donors seeking public matching funds. Cuomo's campaign and the super PAC are barred from coordinating activities due to legal restrictions.

    A rival super PAC supporting mayoral candidate Zohran Mamdani has been formed, with billionaire Stephen Ross donating $50,000. The group, New Yorkers for Lower Costs, has yet to report any contributions. Mamdani claims to have raised $8 million through public matching funds, backed by left-leaning supporters like actress Cynthia Nixon.

    Government watchdogs argue that super PACs are an end-run around the campaign system, but they remain legal under a Supreme Court ruling. New York City's strict donor limits for those with business before the city only allow direct donations of up to $400. Critics see super PACs as "kryptonite" for the city's campaign finance system, enabling pay-to-play politics.

    In 2021, super PACs raised $7.8 million to support Eric Adams' mayoral election. Cuomo leads the Democratic primary field with 41% of the vote, followed by Mamdani at 18%.

New York Governor Cuomo's Super PAC receives $2.3 million from real estate donors.