Metro

Stringer shuns real estate money for mayor bid after already collecting $1M

Mayoral hopeful Scott Stringer has jumped on the anti-big real estate bandwagon and is shunning campaign contributions from the industry — now that he’s amassed a nearly $1 million war chest from the Big Apple’s biggest landlords.
“I’ve heard him say that he’s not going to take real estate contributions,” one source told The Post about a recent conversation with Stringer, who is currently the city’s comptroller.
“He didn’t say anything about the money he’s already taken,” the source added.
Since 2018 about 18 percent of Stringer’s $1.4 million campaign haul came from real estate contributions, according to city campaign finance records. From 2014 through 2017, 26 percent of $2.3 million in donations were from deep-pocketed donors like real estate tycoon Aby Rosen of RFR Holding and William Rudin, CEO of the luxury apartment and office tower empire Rudin Management Co. Over half of those funds were carried over to the current election cycle. 
Since 2014 Stringer raised a combined $859,000 from the industry including major real estate corporations, their immediate family members, brokers, developers, property managers, and other related professionals, campaign finance records show.

A second source noted Stringer said last month that he “prefers not to take real estate money.”
“I know for a fact he’s very upset about Corey on the real estate stuff because Corey is not taking the money and I think he feels that hurts him,” the second source said about Stringer’s likely mayoral opponent, City Council Speaker Corey Johnson.
Kenneth Sherrill, professor emeritus of political science at Hunter College, said the “real estate industry is a particular ogre in New York City for many reasons — some deserved, some not. But enough people have good reasons for disliking landlords.”
Many progressives blame large property owners for making the city unaffordable. They believe too many politicians are beholden to the interests of the industry over their constituents because of large campaign contributions.


During the 2021 election cycle the average real estate donation Stringer accepted was $1,992, compared to just $597 across all sectors.
Stringer’s campaign finance director Jenny Galvin disputed the figure, but would not prove an alternate amount or answer questions on the record.
“It’s unfortunate that this story relies on inaccurate math,” she claimed with no supporting information, “But we are proud to be running a truly grassroots campaign and our filing next week will reflect that,” Galvin said, referring to an upcoming campaign finance deadline.
In addition to Johnson and now Stringer, other liberal New York pols like Rep. Alexandria Ocasio-Cortez, Public Advocate Jumaane Williams, state Sen. Deputy Majority Leader Michael Gianaris and his freshman colleague Sen. Julia Salazar have sworn off real estate donations.
Sherrill called Stringer’s decision an “astute political move.”
“I think that it’s important to especially in a Democratic primary where landlords are part unpopular– in which the winner of the Democratic primary usually goes on to become mayor– it makes total sense,” Sherrill said.

But James Whelan, president of the Real Estate Board of New York that represents industry professionals, criticized the move.

“To be consistent, candidates who decline contributions from real estate should apply the same standards and refuse contributions from other sectors and entities that lobby or advocate government.  Our members will continue to support candidates who will work to create housing, jobs, and economic opportunities for all New Yorkers,” Whelan said.

A REBNY spokesman pointed to a recent analysis performed by the group that found real estate fuels more than half the city’s annual tax revenue.
“Last year alone, $31.9 billion in real estate-related taxes supported the city’s share of salaries for every single police officer, firefighter, and schoolteacher with billions left over to pay for parks, libraries, and other critical public services that every New Yorker enjoys. If we want a progressive city, then we need a prosperous city,” he said.