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eal estate professionals have been donating to both Kamala Harris and Donald Trump's campaigns, driven by concerns about housing and other industry issues. An analysis of Federal Election Commission data reveals the extent of their support. Since June, Trump has received significant donations from longtime friends and allies, including developer Charles Kushner, who was pardoned by Trump in 2020. Kushner has given over $1 million to Trump committees and PACs since June.

    In July, a high-dollar fundraiser for Trump was hosted by Midtown Equities' Joseph Cayre and the Chera and Wynn families in Deal, New Jersey. The event's co-hosts, including Ben Ashkenazy and Joe Moinian, pledged $250,000 each. Arnold Gumowitz, president of AAG Management, donated $100,000 to a Trump-focused PAC in June.

    On the other side, Jeffrey Katz, CEO of developer Sherwood Equities, donated $15,000 to Harris committees and PACs in July, citing concerns about Trump's policies being "devastatingly destabilizing" to the economy. Katz expressed doubt that either candidate's housing plans would have a significant impact. In August, Hudson Realty Capital's David Loo and developer Douglas Durst donated $3,500 and $2,500, respectively, to a Harris-associated PAC.

    As control of Congress hangs in the balance, some industry players are directing their money towards congressional races. The fate of Opportunity Zones, housing incentives, and Republicans' 2017 federal tax overhaul will largely depend on who controls Congress. Trump wants to lower the corporate tax rate from 21 percent to 15 percent, while Harris wants to increase it to 28 percent.

    Blackstone CEO Stephen Schwarzman has given over $11 million to PACs favoring Republican candidates for Congress since June. Meanwhile, Blackstone President Jonathan Gray gave the Democratic National Committee $123,900 in July and $500,000 to a PAC focused on maintaining a Democratic majority in the Senate. Developer Jeff Gural has donated over $120,000 to Democratic congressional candidates, including Elissa Slotkin in Michigan and Dr. Amish Shah in Arizona.

    Real estate professionals are watching state politics closely, as national races can influence local issues. Real Estate Attorney Stuart Saft said he is monitoring state Senate and Assembly races to see if Trump's coattails on Long Island yield more seats for Republicans.