Two Major Cuomo Donors Stand to Benefit from Amazon HQ2 Location

By Llewellyn Hinkes Jones

New York Governor Andrew Cuomo rode into office in 2014 with the help of numerous large campaign donations by real estate developers who skirted contribution limits using limited liability corporations, according to a 2017 story in Politico.

Two of those developers—Scott Reschler and the Durst Corporation—have major real estate holdings in Long Island City, Queens, where state and city subsidies for a new Amazon headquarters negotiated by Cuomo and others may top $3 billion.

The subsidy amount is far beyond the approximate $500 million that Crystal City, Virginia—the other announced headquarters location—agreed to.

Property values are set to rise significantly as Amazon moves into the two locations, which could certainly affect to major projects owned by the two Cuomo donors.

Reschler’s RXR Realty is the developer behind the Standard Motors Products Building in Long Island City—a 330,000 square foot mixed use apartment building based on a renovated factory.

And Durst is the developer behind the Queen’s Plaza Park Project, which is set to be the tallest building in the borough when completed.

The Queen’s Plaza building would sit nearby the Long Island Clock Tower location of Amazon’s future headquarters.

Reschler gave Cuomo’s campaign $300,000 in total and Durst gave $180,200 according to the Politico article.

Published: November 21, 2018