Candidate for Santos’ seat allegedly invests with infamous NYC slumlord
Democratic Candidate for New York Congressional Seat Invests with Controversial Landlord
The race to fill former Rep. George Santos’s (R.) seat in New York has taken an interesting turn. The Democratic candidate, former Rep. Tom Suozzi (D., N.Y.), has been found to have a financial stake in a firm associated with a notorious landlord in New York City.
According to Suozzi’s recent financial disclosure, he holds a significant investment of up to $500,000 in two commercial properties through the investment firm HREA NJ NY LLC. This firm shares an address with Hildreth Real Estate Advisors, owned by real estate investor David Shorenstein. Shorenstein was previously involved with Silvershore Properties, a company that gained notoriety in 2017 for accumulating a shocking 1,090 housing violations across 19 properties in New York City.
During Shorenstein’s leadership, Silvershore Properties was placed at the top of the “Worst Landlord Watch List” by Letitia James, then New York City’s public advocate. Reports emerged of residents living in pest-infested apartments with mold, enduring weeks without heating or hot water during winter. One tenant even had to spend $100 a month on glue traps to combat a rat infestation.
Suozzi, a former congressman and unsuccessful gubernatorial candidate, is currently in a tight race with Republican Mazi Pilip to replace the scandal-plagued Santos. Despite Democrats outspending Republicans, Suozzi has attempted to manage expectations by acknowledging the challenges faced by the Democratic brand due to the Biden administration’s handling of the border crisis.
The upcoming special election on Feb. 13 for New York’s Third Congressional District carries significant implications for the 118th Congress. A Republican victory would expand the party’s narrow majority, providing House Speaker Mike Johnson (R., La.) with a slight legislative advantage.
Suozzi’s financial disclosure reveals a 3 percent ownership stake in HREA NJ NY LLC. It remains unclear whether Shorenstein has direct involvement with the company, which appears to be affiliated with Hildreth Real Estate Advisors. Neither Suozzi nor a spokesperson for Hildreth has responded to inquiries regarding the relationship between the two entities.
Silvershore Properties claimed in November 2017 that it had made significant improvements to its properties and expected violations to decrease during subsequent inspections. However, in July 2018, the company sold most of its holdings and closed its Manhattan headquarters.
Residents accused Silvershore of neglecting property maintenance in an effort to force them out and replace them with higher-paying tenants, as reported by Gothamist in 2019.
After leaving Congress in January 2023, Suozzi acquired his stake in HREA NJ NY LLC. His holdings in Hildreth represent a small portion of his overall investment portfolio, valued at up to $6.3 million.
Suozzi is the latest Democrat to face scrutiny for having a financial interest in a problematic landlord. During his 2022 reelection campaign, Sen. Raphael Warnock (D., Ga.) faced backlash when it was revealed that his Ebenezer Baptist Church owned a low-income apartment building that attempted to evict struggling residents over minimal unpaid rent.
Residents of the church-owned building, who were threatened with eviction during the pandemic for as little as $28 in overdue rent, reported issues with pests, maintenance, and unsanitary conditions, according to the Free Beacon.
How does Tom Suozzi’s investment in properties linked to a controversial landlord raise questions about his judgment and commitment to serving his constituents, particularly those who have experienced housing issues?
His revelation of Suozzi’s financial investment in a firm associated with a controversial landlord raises questions about his judgment and commitment to serving the interests of his constituents, particularly those who have experienced housing issues in New York City. It is concerning that Suozzi would choose to invest in properties linked to a landlord with a track record of housing violations and neglecting the well-being of their tenants.
The fact that Suozzi’s investment in these properties is significant, with up to $500,000 at stake, further emphasizes the seriousness of this issue. It is not unreasonable to expect a candidate running for public office to be more discerning about where their money is invested and to avoid associations with individuals or firms that have displayed such disregard for the basic needs and rights of tenants.
Suozzi’s association with HREA NJ NY LLC and Shorenstein raises questions about his awareness of the practices and reputation of the entities in which he invests. As a former congressman and someone with political experience, it is fair to expect a certain level of due diligence in evaluating potential business ventures and the ethical implications of such investments.
Furthermore, this revelation comes at a crucial time for Suozzi as he competes in a closely contested race. With the scandal-plagued Santos leaving a tainted legacy, voters are looking for a candidate who can restore trust and integrity to the congressional seat. However, Suozzi’s financial association with a controversial landlord undermines his credibility and casts doubt on his ability to prioritize the needs of his constituents over personal financial interests.
In light of these revelations, it is essential for Suozzi to address this issue with transparency and accountability. Voters deserve an explanation of his financial decisions and assurances that he is committed to advocating for safe and affordable housing for all. Suozzi must make a clear statement distancing himself from the practices and reputation of the landlord associated with his investment.
Additionally, it is crucial for voters to consider this new information in their decision-making process. They should critically evaluate the candidates’ integrity and commitment to bettering the lives of their constituents. The people of this district deserve a representative who will prioritize their well-being and hold themselves to the highest ethical standards.
In conclusion, the revelation of former Rep. Tom Suozzi’s financial investment in a firm connected to a controversial landlord raises serious concerns about his judgment and commitment to serving the people of New York’s congressional district. This issue demands transparency, accountability, and reassurance from Suozzi that he is dedicated to addressing the housing needs and concerns of his constituents. The voters in this district deserve a representative who genuinely prioritizes their well-being and can be trusted to uphold the highest standards of ethical conduct.
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