Edited by: TJVNews.com
It appears that New York City Mayor Eric Adams is looking towards the future and in particular, his 2025 re-election bid as the city’s chief executive officer.
The New York Post reported that Adams’ reelection campaign raised about $850,000 in his first six months in office. New filings reveal that this was credited to substantial contributions from the real estate industry and out-of-state donors.
In a biannual New York City Campaign Finance Board disclosure report released on Friday, Adams war chest for his next mayoral campaign was set forth in detail, as was reported by the NY Post.
The Post reported that “five of the six donors that gave Adams’ 2025 campaign the maximum donation of $2,100 are involved in real estate: Louis R. Cappelli, a Westchester developer and his wife Kylie Cappelli; David Falk, president at Newmark Knight Frank; Marjorie Kuhn, the wife of another Newmark president; and Greg Manocherian, real estate investor.”
The Post also reported that the campaign finance board disclosure listed nearly 300 donors who contributed $2,000, including several other big names in real estate.
It appears that the city’s real estate industry has also been offering generous donations to New York Governor Kathy Hochul in her bid for re-election which is set for November of this year. She will be squaring off against Republican Long Island Congressman Lee Zeldin.
As per the Real Deal, some of NYC’s most prominent real estate executives have contributed generously to Hochul’s campaign. Hochul raised over $34 million since taking office in August 2021. About $12.7 million of that cash was amassed just between Jan. 21 and June 27, state campaign finance filings show. More than $1.1 million of that tally came from checks of $10,000 or more from prominent real estate figures this year. The industry rallied behind Hochul, a moderate Democrat, immediately after she took on the position. The day after Hochul was sworn in, GFP Real Estate’s Jeffrey Gural and SL Green Realty’s Marc Holliday each contributed $10,000 to her campaign.
By January, real estate execs had contributed a total of over $4 million to Hochul’s campaign. Leading professionals from Vornado Realty Trust, Extell Development, Related Companies, Rudin Management, Silverstein Properties, and others each donated tens of thousands of dollars. One family who has been an extraordinary support for Hochul is the Cayre family. The family, which helms Midtown Equities LLC, donated $209,100 from the beginning of April till June, bringing their total contribution since she took office to over $400,000. Developer Scott Rechler of RXR and his wife Deborah together gave over $80,000 in May, and had already donated $50,000 earlier. The Adjmi family and entities linked to their firm, A&H Acquisitions, shelled out more than $227,700 since last year.
As he sought to expand his national profile, Adams traveled around the country and was able to garner more than a quarter of his campaign cash from at least 20 states outside of New York, as was reported by the Post. He even held fundraisers in Chicago and Los Angeles.
The disclosure report indicated that Adams collected $24,200 from California and $40.850 from Illinois.
The Post reported that the filing showed that Adams’ campaign raised more than $100,000 in eligible matching and had $787,000 on hand.
Vito Pitta, Adams’ campaign lawyer said, “This filing shows strong support for Mayor Adams and his plans for the city. In just the first six months since the campaign committee opened, it has raised more than $850,000 from supporters.”
Adams raised more than $19 million for his successful 2021 bid, according to the NYCCFB, as was reported by the Post.
