Press "Enter" to skip to content

Posts tagged as Andrew Cuomo

These real estate heavyweights were invited to Cuomo’s secretive fundraiser

Developer Douglas Durst and billionaire John Castimatidis were among the bigwigs invited to Gov.Andrew Cuomo’s secretive fundraiser earlier this month.
Durst, chairman of the Durst Organization, donated but didn’t attend the event, which was held at the St. Regis Hotel, the New York Times reported.The minimum donation per couple was $25,000.Catsimatidis said he did not contribute or go to the event — and said he was invited because of his longtime friendship with the governor.“I go back with the governor 20 years,” he told the Times.“In 50 years in business, I have never gotten anything from the city or the state, the Red Apple Group head told the Times.“You know what I’ve gotten? Ungatz. That’s Italian, I think.””Other real estate figures who received invites included Island Capital Groups Andrew Farkas and Atlantic Development Groups Peter Fine, according to the Times.The dinner was kept under the radar and not listed on Cuomo’s calendar.The invitation, too, was vaguely worded, the report said.The pricey fundraiser was planned as the New York State budget comes due — and lobbyists advised clients that the event would be good for them to attend.
Guests included senior Cuomo administration officials, including the state budget director Robert Mujica.Cuomo gave a speech to a room of about 100 people, talking about Amazon, the tumult in Washington and the transition from campaigning to governing.Two months earlier, Cuomo promised to work on campaign finance reform. He signed new limitations on corporate donations and he has vowed to “combat big money in politics.” The governor has been a big fundraiser himself, with the vast portion of his political donations coming from big checks.Last year, he accumulated more than $30 million in his campaign war chest, before a pricey effort to fend off a primary challenge from Cynthia Nixon.

Please follow and like us:

Albany reconsiders pied-à-terre tax, could tax real estate sales instead

The state is now considering a tax increase on real estate transactions instead, Politico reported, citing five sources close to the negotiations.One source said the pied-a-terre proposal isn’t dead yet but is “headed there.” Its not immediately clear what a change in real estate taxes would look like.Gov.
Andrew Cuomo continued to push for the pied-à-terre tax in a radio interview on Monday morning, but the tide appeared to have turned by Monday afternoon.Another source told Politico that the tax proved to be too “onerous,” and would further complicate New York Citys already convoluted property tax system.
A recurring topic in city and state politics, the idea of a pied-à-terre tax was put forward again this month as a way to fund the MTA, as it became clear that a plan to legalize and tax marijuana would not come together in time. Albany lawmakers already agreed to a congestion pricing plan on Monday, with revenues earmarked for MTA repairsThe pied-a-terre proposal was poorly received in the real estate world, with the Real Estate Board of New Yorks John Banks saying it would throw a huge wet blanket over the entire industry.

Please follow and like us: