Real estate money pours into NY governor and legislative races

What happened

The Real Deal reported on 10/30/2026 that real estate donors and political action committees are spending heavily on next week's New York elections. The races include governor, attorney general, state legislature and Congress. The spending follows a primary season in which left-aligned candidates, backed by small donations and canvassing, beat many of the industry's best-funded picks.

In the race for governor, incumbent Kathy Hochul faces Nassau County Executive Bruce Blakeman. Blakeman has said he would push to change state laws limiting rent increases so that more empty rent-stabilized apartments come back on the market. The Real Deal notes he would face an uphill battle with a Democrat-controlled legislature. Hochul has backed housing production through environmental review reforms and direct funding. The New York Apartment Association's PAC, Leadership for NY, sent $3 million to Hochul's campaign plus a $1 million independent expenditure through Better Housing Now. Jed and David Walentas each gave $129,600 to the Hochul-led state Democratic Committee. On Blakeman's side, James Dolan and his family gave more than $108,000 directly to his campaign. Dolan-affiliated entities gave $2 million to the pro-Blakeman super PAC Strong and Safe New York. The Real Estate Board

In the attorney general race, incumbent Letitia James faces Republican Saritha Komatireddy. The Real Deal describes James as having gone toe-to-toe with landlords and REBNY as part of a broader crackdown on rent stabilization compliance. Members of the Tisch family together gave Komatireddy more than $32,000. James still received contributions from several large developers and industry PACs.

In state legislative races, the industry is backing candidates including Rory Lancman in the 7th Senate District, Lisa Vider against incumbent Patricia Canzoneri-Fitzpatrick in Nassau, and Pesach Osina for an open Assembly seat in South Queens and the Rockaways. Canzoneri-Fitzpatrick's Republican housing package includes a bill to means-test rent-controlled and rent-stabilized apartments based on income limits. Progressive DSA and WFP candidates, including Eon Huntley in Brooklyn, Samantha Kattan in Queens and Illapa Sairitupac in Lower Manhattan, are expected to win easily. They would join a bloc in Albany pushing to expand rent stabilization, form a social housing authority and raise taxes on corporations and the very wealthy.