“The Governor Is On the Line…” Andrew Cuomo and the Real Estate Industry
By Jotham Sederstrom May 8, 2012 7:00 am
reprintsYet countervailing questions have surfaced too, including the wisdom of relocating a facility that is currently one of the best-performing conference facilities in the country to the nether regions of Queens. Such concerns are premature, said a person close to the governor.
“We are going to develop a master plan for the whole [18] acres, and really try to transform that section so that it blends in with Hudson Yards, it blends in with Times Square, and really utilize that property in an effective way,” that person added.
Few have spoken out vehemently against the project, but many sources say that it is sure to have its critics behind the scenes, including the powerful Hotel Association of New York City, whose members paid for the current renovations with a $1.50 surcharge per night on their room rates.
“My feeling is the ink is not dry on a Javits deal,” said George Artz, a public relations and lobbying executive. “I don’t think people expect the governor to try to be unilateral. He’ll probably offer a smaller facility in Manhattan.”
For Mr. Cuomo, development and real estate play vital roles in the economic development of New York State. Such was the lesson he learned during previous stints heading Housing Enterprise for the Less Privileged (HELP) and the Department of Housing and Urban Development.
He’s also not afraid to go after real estate, either, as he proved during his time in the attorney general’s office. He went after Extell Development’s Rushmore condominiums, ordering Gary Barnett’s firm to release 41 buyers from their disputed contracts. He also went after Vantage Properties, reaching a $1 million settlement with Neil Rubler’s company after accusing the firm of putting its tenants through unnecessary housing court proceedings.
This is not to say that there’s lingering resentment on the part of the real estate community. As Governor Cuomo’s campaign to legalize same sex marriage was taking steam, several prominent members in the real estate community, including Adam Rose of Rose Associates and Donald Capoccia of Great Jones Realty, lent their support to the governor.
“The theory has always been to do the job properly, call things straight, exhibit leadership, and that in the end, people will respect what you did,” said Mr. Cohen. “I think that’s where we ended up with the real estate community.”
drosen@observer.com and dgeiger@observer.com
