FAST-TRACK MONEY TRAIN FOR MAYORAL WANNABES
Rich haul from wealthy, sometimes over legal limit
Contenders for New York City mayor are raking in millions from generous, wealthy donors — including some contributions above the legal limit.
Brooklyn Borough President Eric Adams, Bronx beep Ruben Diaz Jr. and city Comptroller Scott Stringer collectively raised $1.22 million for their 2021 campaigns from donors who gave at least $5,100 — the maximum any one person can give in the race.
The three wannabe mayors accepted about $3.6 million from donors who contributed $1,000 or more, according to an analysis of filings by the Daily News.
Stringer’s campaign allowed five donors to give illegal contributions above the $5,100 max, while Diaz let one squeak by. Though Adams refunded all his donations over the limit, the Brooklyn pol still scored the most big checks, taking $5,100 from 107 donors and at least $1,000 from 648 individuals, The News found.
Stringer followed with 70 donors who gave $5,100 and 377 that contributed $1,000 or more, filings show. Diaz received the max from 55 donors while 277 gave him at least $1,000.
Diaz had the highest percentage of donors giving four-figures, with 85% of the $955,921 he’s raised since the start of 2018 coming from those who put up $1,000 or more.
Nearly 79% of $1.39 million raised by Stringer since January 2018 were from donors who gave that much. And about 77% of the $2.19 million Adams has raised since then came from four-figure donors.
Some of the most generous donors to the Adams campaign include entrepreneur and self-help guru James Altucher and his wife, who each gave the borough president $5,100. Altucher’s net worth is estimated to be about $50 million.
Alaris Health founder Avery Eisenreich and four members of his family gave Adams the max, too, for a combined $25,500, filings show. Jane Walentas, wife of prominent real estate developer David Walentas of Two Trees, also gave Adams $5,100. David Walentas’ net worth is an estimated $2.5 billion.
The lawyer who represented two shady landlords in a real estate deal that cost the city $173 million, Frank Carone, gave Adams $5,100. So did his wife, Diana.
Adams also got $9,600 from Gina and Anthony Argento of Broadway Stages, a film production company that was questioned as part of a probe into Mayor de Blasio’s fund-raising.
“From contributions of $5 to the full amount allowed, New Yorkers of diverse backgrounds and experiences from across the city are supporting Eric for mayor because they share his vision for the five boroughs,” Adams campaign spokesman Evan Thies said.
The maximum individual contribution limit depends on how much in taxpayer-backed matching funds candidates for mayor would like to receive. But the $5,100 limit applies to all candidates, even if they aren’t looking for matching funds.
Candidates who adhere to a limit of $2,000 per donor can get $8 in public funds for every $1 in qualifying donations, up to the first $250 of a contribution. The 2021 mayoral candidates who limit contributions to $5,100 per donor can get a smaller 6-to-1 match of taxpayer funds up to the first $175.
Diaz still took $6,100 from attorney
Gary Rosen, a former developer whose practice focuses on real estate and construction. A rep for his campaign didn’t respond to multiple messages seeking comment.
And Stringer still accepted $10,100 from John Klein, who works in real estate.
The comptroller also took $7,500 from wealthy real estate developer Arthur Zeckendorf and $5,450 from his former aide Audrey Gelman, who founded the women’s co-working space The Wing. Stringer received $5,350 from Michael Sinensky, proprietor of Funbars, and $5,250 from Steven Cohen, an executive at holding company MacAndrews and Forbes.
Stringer’s campaign said it will return a portion of contributions where donors gave more than $2,000 because he plans to take advantage of the 8-to-1 taxpayer match with the lower limit anyway.
Initially, candidates like Stringer, Diaz and Adams were able to raise up to $5,100 from individual donors in 2018 and still get the higher ratio of taxpayer funds in the 2021 campaign cycle. But the City Council passed legislation in June that requires that candidates “refund” any 2018 contributions that go over the $2,000 limit if they want to be a part of the 8-to-1 match going forward.
Stringer’s campaign accused City Council Speaker Corey Johnson (D-Manhattan) of tweaking the campaign finance rules as part of a “brazen power grab” to boost his own likely bid for City Hall.
Johnson had already said he won’t accept more than $250 from any single donor to his 2021 campaign and vowed to decline contributions from real estate developers and employees of lobbying firms. At least $4,100 has already been refunded to lobbyists, developers and others, filings show.
“There’s a lot of cynicism in government because people feel like big donors have too much access in government, and here’s a way to take big money out and have it be publicly financed,” Johnson said when the measure passed.
Stringer would have to refund about $436,000, an analysis of filings shows. That’s more than what Johnson’s raised so far.
Some of Stringer’s biggest donors include real estate scion Daniel Brodsky, who gave $5,100. Brodsky’s wife, Estrellita, also gave $5,100, and so did his son Thomas, a Brodsky Organization principal.
Mark Domino at the powerful Durst Organization, Warner Music Group Chairman/CEO Edgar Bronfman Jr. and Chartwell Hotels President George Tsunis each gave Stringer $5,100. Bronfman’s net worth is an estimated $2.5 billion and Tsunis’ has been estimated at about $107 million.
Six members of the Fetner family, which runs a development company, collectively gave the comptroller $27,800, including three max contributions of $5,100. Five people in the Fisher family, which started the real estate firm Fisher Brothers, each gave Stringer the max for a total $25,500.
Stringer’s campaign stressed 70% of all donations were contributions of $250 or less. The campaign had no further comment.
Diaz’s most generous donors include Harvey Bergman, director of Property management at Triangle Equities, who gave him $5,000.
Seven employees of Baldor Specialty Foods — headquartered in the South Bronx — gave Diaz a combined $35,500. Six, including the company’s President Michael Muzyk, gave the $5,100 max.