Saturday, September 15, 2012

No surprise: Real estate has bought our pols

From The New York World:

Companies associated with luxury real estate mogul Leonard Litwin have funneled more than $900,000 into races for the New York State Senate so far this election cycle — mostly to Republicans, who are fighting this fall to hold on to majority control.

These contributions have come through limited liability companies (LLCs) connected to Litwin’s real estate firm, Glenwood Management. Routing contributions through LLCs allows donors to legally circumvent the state’s $150,000 annual political donation limit for individuals and $5,000 cap for corporations.

All it takes to register a limited liability corporation in New York is a three-question form and $200.

The use of LLCs to evade campaign contribution limits has special significance this election year, in which voters will decide who fills every seat in the state Senate and Assembly. Gov. Andrew Cuomo stated during his 2010 campaign that he would be in favor of limiting donations from LLCs, and in his January State of the State address — which called contribution limits “riddled with loopholes” — vowed to enact campaign finance reform this year.

Cuomo himself has been a beneficiary of the LLC loophole: his 2014 campaign has received a quarter million dollars from the holdings of Leonard Litwin, the New York Public Interest Group (NYPIRG) calculated in July.

In total, more than 20 LLCs associated with Litwin have funneled about $1.8 million to more than 60 state-level candidates, as well a a few local officials and more than a dozen political committees, since the beginning of 2011.

11 comments:

Anonymous said...

there they go again...one wonders if any commenter will tell us how much campaign money the public unions and law firms have donated to all of the nys/nyc politicians ?

Anonymous said...

"Companies associated with luxury real estate mogul Leonard Litwin have funneled more than $900,000 into races for the New York State Senate so far this election cycle — mostly to Republicans, who are fighting this fall to hold on to majority control."

This is why you have soaring rents and lax code enforcement here in NYC.

The Pataki-Bruno era is over, but the aroma lingers.

BTW: Note the now razor-thin, dwindling lead the gop has left in only -one- section of the State House.

Anonymous said...

There who goes again? Oh, I know, public unions donate mostly to Dems. Real Estate is giving biggie bucks to Reps. Bottom line is, those donors want something back. Unions want benefits and pay raises and real estate developers want to develop. Want to know where in Queens those developers smell a profit, follow their money to which Queens pols they are funding.

Anonymous said...

It would be helpful if you identified the specific LLCs, the pols that received the largesse and how much they received.

Anonymous said...

Just like Tommy Huang bought Gary Ackerman!

Anonymous said...

Isn't Cuomo the person who helped start all this Real estate/ mortgage crap when he was the HUD chief?

Anonymous said...

Just counting the minutes until Melinda Katz's name appears attached to this.

Anonymous said...

dare anyone mention the LOCAL Queens Dems. on the donor gravy train. one would quickly be censored.

that is the problem.every one is shilling for their saviors.

Anonymous said...

Which single Queens pol is the beneficiary of all this real estate largesse?
1 CHRISTOPHER REALTY LLC 4000
1-3 SHERWOOD TERRACE LLC 2500
111-55 77 REALTY LLC 5000
2 NORTH BROADWAY LLC 2500
211 EAST 70 STREET LP 10000
33 LOUDOUN ASSOCIATES, LLC 2500
390 EAST 153 STREET LLC 5000
47 FEATHERBED LANE LLC 5000
4791 BROADWAY LLC 1000
56TH REALTY LLC 10000
608 LORIMER DEVELOPMENT LLC 1150
68-60 108 REALTY LLC 5000
72-06 69 STREET LLC 1000
80TH REALTY LLC 10000
92ND REALTY LLC 5000
93-15 ROOSEVELT INC 1500
ARWIN 74TH ST. LLC 10000
BARCLAY STREET REALTY LLC 5000
BELKINBURDEN WENIG & GOLDMANLLP 4000
BUIDING MANAGEMENT II LLC 2500
CHATSWORTH REALTY CORP. 2000
DELTA MANAGEMENT LLC 5000
DOLP 114 PROPERTIES LLC 2000
DOLP 205 PROPERTIES LLC 2500
DOLP 655 PROPERTIES LLC 2000
GVD REALTY INC 500
HAZEL TOWERSCO., LP 667
KATZ REALTY GROUP 5000
KATZ, GARY W 3000
PROMETHEUS REALTY CORP 1000
REAL ESTATE BOARD PAC 5000
ROSE ASSOCIATES LLC 5000
RUDIN, ERIC C 1250
RUDIN, WILLIAM C 1250

Anonymous said...

You mean like the half million they invested in Ulrich?

Anonymous said...

Investors expect profits. If he got 500.000 a probably accurate assessment would be that he owes the big money folks big-time and that's whose business he'll be taking care of if he gets to Albany. Rich'll get richer and the rest of us'll get screwed.