Politics

Gov. Hochul Stockpiles Donations, as Rivals Struggle to Keep Pace

Big real estate donors have a habit of sticking with politically moderate incumbents they perceive to be doing a decent job. This year appears no different. Ms. Hochul, the incumbent in question, has continued to haul in donations from landlords and developers.

Jerry Speyer, the chairman of Tishman Speyer, which owns Rockefeller Center, donated $50,000 to Ms. Hochul’s campaign in April. Donald Capoccia, the managing principal of Brooklyn-based developer BFC Partners, donated $25,000. James L. Dolan, who controls Madison Square Garden — which sits atop the Penn Station Ms. Hochul is renovating — donated $69,700.

“In the real estate business, you’re only as strong as the communities where you’re doing business,” Mr. Rechler, who used to be one of former Gov. Andrew M. Cuomo’s biggest donors, said in a statement. “Governor Hochul recognizes that to build stronger communities you need to invest in infrastructure, focus on quality of life and prioritize public safety.”

On the day that candidates for governor faced a deadline to release fund-raising information, Mr. Suozzi chose to also make his tax return available to reporters. On both counts, Mr. Suozzi trails the governor.

Ms. Hochul and her husband, William J. Hochul Jr., reported a joint taxable income of $825,000 this year, more than twice the combined income of Mr. Suozzi and his wife.

Mr. Hochul, a high-ranking executive at Delaware North, a hospitality company and state concessionaire, earned the bulk of the couple’s income: $547,434 from his job at Delaware North. The $363,494 in joint taxable income from Mr. Suozzi and his wife, Helene Suozzi, includes $152,645 in wages — a vast majority of it from Mr. Suozzi’s congressional salary — and $136,339 in capital gains.

The Suozzis have a smattering of investments, including a rental office property in Glen Cove, N.Y., that garnered $18,360 in rental income in 2021, and an investment in a Southampton day camp, which earned them $12,677 in passive income.

Source: NY Times

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