Although many in the real estate industry are still soul searching to find their man - or woman, some are firmly and financially backing a candidate in New York City's November 2 mayoral election. Others are remaining publicly neutral because of their positions as heads of organizations.
Many people are firmly in the Giuliani camp, although most would not speak for publication. Several prominent real estate executives who have supported Mayor Dinkins to friends also declined to endorse him in this forum. As one Giuliani wag put it, "They are worried the Mayor will lose." Developers are spreading money to both camps to cover their public bases, but Loan minneapolis money quick many of their votes are heading to Giuliani.
REW asked who and why of real estate executives around the city.
Stephen B. Siegel, president of Edward S. Gordon Company, said he is supporting Giuliani because he feels its a definite time for change. He noted there are problems existing in the city that are apparent, as well as those that are being "submerged," including the potential for massive budget deficits.
Speaking also as the owner of a small neighborhood restaurant, the Knickerbocker Tavern in Greenwich Village, Siegel bemoaned the fact that neighborhoods are being taken over by vandals. "We watched the neighborhood get destroyed," he said of the University Place area around the restaurant. "We need someone to come in and take a firm hand and I think Giuliani can do that."
Raymond T. O'Keefe, executive director Edward S. Gordon, said he was supporting the Mayor because "he's tried very hard." O'Keefe observed the Mayor inherited a difficult situation during a nationwide recession and after 1980's fiscal irresponsibility. "I think he's been trying to handle it even-handedly," he added.
O'Keefe is also pleased with the Mayor's choice of Barry Sullivan as Deputy Mayor for Economic Development. "That was a tremendous signal to the business community, and they are making headway. And I haven't seen any comprehensive programs from Giuliani." O'Keefe also pointed to the Downtown plan, the first one since 1966. "Just that is significant," he noted. "There are dozens of recommendations and it shows an awareness that there is a problem and they need to do something."
Richard Stone, president of NYARM and the manager of Big Six Towers Inc., said the organization does not get involved. "I try to be as ecumenical as possible," said the former aide to Herman Badillo.
Jerome Belson, president of Associated Builders Organization and his eponymous company, said the ABO remains neutral, despite a photo of Belson, Giuliani and Alan Friedberg that was taken at a Mortgage Banker's Association dinner last month.
Jerome I. Speyer, president of Tishman Speyer, said through a spokesperson that because of his position as chair of the New LOAN MINNEAPOLIS MONEY QUICK York Partnership, he is remaining neutral. "He is looking at both candidates," she said.
One investment manager, who declined to be identified by name, said he was supporting Mayor Dinkins primarily as a backlash to Giuliani's personality. "Giuliani is too quick to jump on things like arresting people in their offices," he noted. "It's not about real estate issues. He's made comments that he will do this or that for business and while nobody likes the commercial rent tax, he doesn't have a plan to replace the money."
Developer Douglas Durst said in his view, neither of the mayoral candidates will attack the basic problems. He did, however, want to urge people to vote for term limitations. "I've been supporting that Loan minneapolis money quick a long time. Now as soon as someone is elected they are only interested in getting re-elected." He was surprised to hear that the Rev. Calvin Butts in Harlem, who helps develop affordable housing, is organizing voters against the limitations saying as soon as minorities gain a small foothold they will be thrown out.
Another family member was willing to take a strong stance. Robert Durst, a partner in the Durst Organization, said he would prefer Giuliani. "I don't think Mr. Dinkins is interested that much is managing the city," he added.
Alan B. Friedberg, president of Friedberg Development Corp., which does real estate investments and just completed the development of The Sutton, an Loan minneapolis money quick all-suite hotel with a minimum one month stay, said he's on Rudy's side, and in fact, has been raising money for the campaign. "I believe he will dig into that Hotel Tax and rejuvenate our tourism, which has been down," he said. "If you combine it with crime reduction, our tourism will go up. He will also give consideration to Loan minneapolis money quick the occupancy tax and he's planning to make some changes."
The Real Estate Board is staying neutral in both the Mayoral and Comptroller races, said Steven Spinola, its president. "We've given to both Giuliani and Dinkins and I've given advice to both candidates," he said, adding they were also not taking a position at all on the comptroller's race. REBNY is, however, supporting Mark Green over Susan Alter for the Public Advocate position. "Susan Alter was never willing to be responsive to us when she was on the City Council," said Spinola, "so why should we support her now?"
One zoning and planning attorney said he believes Giuliani would be better for real estate people. "My sense is that he seems to be the pro-business type candidate and I would expect him to be more favorable to the real estate developer." The lawyer said he has been disappointed in the Dinkins administration, which he says is not friendly to development at all. "You get a feeling that what you are doing is not well received. Even if it was a small job the Koch administration treated it as one more thing that would help the city."
No matter who is elected, however, the real estate industry is ready to work with that person. As a letter Speyer wrote states: "As chair I look forward to working with the next mayor, whoever he is."
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