realestate

Mayor Adams' Real Estate Holdings Generate Significant Income

Mayor raises over $1.5 million in latest fundraising filing.

M
ayor Eric Adams is gaining traction with the city's business and real estate community, with many opting to back him over Andrew Cuomo in the general election. Interviews with industry members reveal a growing sentiment that Cuomo has had his chance.

    Adams' fundraising efforts have been impressive, raking in over $1.5 million from employees of major players in the business and real estate industry. Notably, SL Green, which is vying to build a casino in Times Square, contributed almost $70,000. Marc Holliday, the company's chairman and CEO, has publicly praised Adams for his pro-business stance.

    Empower NYC, a super PAC formed to boost Adams' prospects, raised $425,000 and its CEO, Abe George, attributes this success to donors growing tired of Cuomo. "Post-primary, our phone didn't stop ringing," George said. "There's a sense that we invested in Cuomo and it didn't pay off."

    The largest donation came from the head of Extell Development, who gave $250,000. However, not all Cuomo backers are ready to commit to Adams just yet. Kenny Burgos of the New York Apartment Association is observing the field, saying it's "way too early" to make a decision.

    Adams' campaign has also benefited from his own fundraising efforts, including a recent event in Florida that raised $1 million. The mayor's latest campaign finance report shows he has not received matching funds from the city.

Mayor Adams' real estate portfolio generates substantial income in New York City.