Titans of Real Estate in 'Shock' Over New York Rent Law Deal

Written by <a href="index.php?option=com_comprofiler&task=userProfile&user=50987"><span class="small">J. David Goodman, Vivian Wang, Luis Ferre-Saduri, The New York Times</span></a>

Saturday, 15 June 2019 13:03

Excerpt: "Less than a day after newly emboldened Democratic lawmakers announced bills that would significantly tighten tenant protections, prominent real estate developers got Gov. Andrew M. Cuomo on the phone to make a last-ditch plea to persuade him to block the measures."

The new and strengthened rules would mark a turning point for the 2.4 million people who live in nearly one million rent-regulated apartments in New York City. (photo: Brittainy Newman/NYT)

Titans of Real Estate in 'Shock' Over New York Rent Law Deal

By J. David Goodman, Vivian Wang, Luis Ferre-Saduri, The New York Times

15 June 19

ess than a day after newly emboldened Democratic lawmakers announced bills that would significantly tighten tenant protections, prominent real estate developers got Gov. Andrew M. Cuomo on the phone to make a last-ditch plea to persuade him to block the measures.

The developers, including Douglas Durst, Richard LeFrak and William C. Rudin, are involved with some of the most iconic buildings on the New York City skyline, including One World Trade Center and 3 Times Square, and have long wielded major influence in Albany.

They and their counterparts in the real estate industry have donated millions of dollars in campaign contributions to Mr. Cuomo and other state politicians in recent decades.

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