Exclusive | NYC real estate titans pump big bucks into Hochul reelection as GOP warns theyll get burned over tax the rich agenda

Big Apple real estate bigwigs pumped big bucks into Gov.Kathy Hochul’s reelection campaign as the Democrat enjoyed frontrunner status in deeply blue New York.Some members of the Real Estate Board of New York made max donations to the Friends of Kathy Hochul and the Democratic Party — a move that may aim to give them influence with the governor but may ultimately be fueling policies that are hurting their bottom lines, strategists and Republicans said.The backers include:He also donated $129,600 to the Hochul-led New York State Democratic Committee in August of this year.The Durst Organization also donated $25,000 to the state Democratic Party in February of this year.A REBNY spokesperson said it’s up to individual members of the real estate community to decide whom they want to support for elective office.“REBNY does not endorse candidates, and our Board members make their own individual decisions about political contributions,” the spokesperson said.State GOP Chairman Ed Cox said the real estate titans must feel “burned” after the governor unleashed a pied-a-terre tax on luxury second homes in the city under pressure from city Mayor Zohran Mamdani and his allies as they push a “tax the rich” agenda.“For their reward, Hochul shoved the pied-a-terre tax down their throats to satisfy Zohran Mamdani’s desire to tax the rich.

Of course they were burned,” Cox said.O’Brien O.B.Murray, a campaign strategist who’s represented both Republicans and Democrats, said Hochul benefits from the “power of incumbency.” “It’s a conundrum when the people you support go against you,” he said.Meanwhile, Republican gubernatorial candidate Bruce Blakeman has received little financial support from business bigwigs, with Knicks and Madison Square Garden owner James Dolan a notable exception.Major landlords and developers may view the Democrat as a safe bet to win re-election and “don’t see an upside” in supporting Blakeman, he added.Long Island d...