In another time, accepting any cash from the real estate industry would be a faux pas in Democratic city politics.

For many of the candidates, those donations are now welcome.


What You Need To Know

  • Most of the major candidates for mayor in this year’s Democratic primary are embracing the city’s biggest and potentially most politically powerful industry

  • Already, real estate interests and executives have donated millions of dollars to try to influence the race for mayor

  • The chairman of the Real Estate Board of New York has donated to former Gov. Andrew Cuomo, political newcomer Whitney Tilson and Brooklyn state Sen. Zellnor Myrie

“In the last campaign, I did it so I proved I can raise millions of dollars without the real estate industry or anybody else for that matter,” said former City Comptroller Scott Stringer, who swore off some real estate money in 2021. “I had a very robust small donor operation, but I am not going to prohibit donations.”

“I have been in constant conversation with members of the real estate industry,” Brooklyn state Sen. Zellnor Myrie told NY1. “We have accepted those contributions.”

“I am proud to say I am the candidate with the least number of contributions from real estate,” Queens state Sen. Jessica Ramos.

But she has donations nonetheless. 

Most of the major candidates for mayor in this year’s Democratic primary are embracing the city’s biggest and potentially most politically powerful industry.

Already, real estate interests and executives have donated millions of dollars to try to influence the race for mayor — and they spread that generosity around.

“There’s no solution to New York’s housing problem that doesn’t include the creation of more housing, no matter what there has to be a development element to it,” Doug Forand, a democratic consultant, said. “No matter what, the real estate community is going to be part of that dialogue, and there are elected officials who want to have those kinds of relationships with real estate leaders.”

For instance, the chairman of the Real Estate Board of New York has donated to former Gov. Andrew Cuomo, political newcomer Whitney Tilson and Myrie.

Meanwhile, City Council Speaker Adrienne Adams, the latest entry into the race, is the only candidate to get an actual donation from the board’s political action committee itself.

“We’re appreciative for any stakeholder in the city of New York and beyond to contribute to our account,” Adams said.

As for Cuomo, major cash is flowing to a political action committee, Fix the City, set up by his supporters to back him.

A NY1 review of donations to the PAC shows about half have come from the real estate and construction industry.

The money comes after Cuomo just met with the Real Estate Board of New York last week. A source says he told the board during that meeting he had some regrets about sweeping rent regulations he approved in 2019 — regulations opposed by many landlords.

The real estate board has not met with every candidate in the race. So far, it has sat down with Cuomo, Myrie and Ramos.

It plans to meet with Stringer soon.

Ultimately, sources say Cuomo is the industry favorite. Adams is also expected to get support.

Two candidates that are not: City Comptroller Brad Lander and Queens Assemblyman Zohran Mamdani. Both say they have sworn off big real estate money in their campaigns.

“New York’s housing crisis is driving working class families out of this city, which is why I am proudly refusing all corporate real estate money,” Mamdani said.

NY1 fact checked their claim and found several donations violating both candidates’ pledge. The campaigns say they are in the process of returning those donations.