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s the New York City mayoral election heats up, a lucrative pipeline of donations from real estate moguls has emerged in support of Andrew Cuomo's bid for office. A super PAC backing the former governor has raked in $5.5 million over the past two months, with a significant portion coming from deep-pocketed donors like Two Trees' Jed Walentas and his Real Estate Board of New York (REBNY) cohorts.

    Cuomo's ties to the real estate industry are well-documented; during his tenure as governor, he relied heavily on their financial backing. Now, a super PAC formed by Cuomo allies has created a loophole for these donors to circumvent city campaign finance laws capping contributions at $2,100 for participating candidates like Cuomo.

    The Fix the City super PAC has become a haven for big-spending real estate interests, with Scott Rechler of RXR Realty and billionaire Stephen Ross of Related Ross contributing $250,000 and $50,000 respectively. These donations have enabled the group to spend $1.9 million on video ads touting Cuomo's candidacy.

    The arrangement allows donors like Two Trees and RXR Realty to write checks worth hundreds of thousands without worrying about contribution limits. For those with city contracts, the limit drops to a mere $400. As Cuomo's super PAC continues to rake in cash from real estate titans, it remains to be seen whether his campaign will prioritize their interests over those of everyday New Yorkers.