Developer who bundled thousands for Adams picked to build on city-owned Coney Island lot

High-Rise Development in Coney Island Sparks Concerns Over Conflicts of Interest

The New York City Economic Development Corporation (NYCEDC) has awarded a lucrative contract to Rybak Development, led by CEO Sergey Rybak, to build a 505-unit high-rise on a city-owned lot in Coney Island. The project is expected to be completed by 2030 and will include a quarter of the units reserved for low- and middle-income renters. However, the selection process has raised eyebrows due to Rybak's history of bundling contributions for Eric Adams' mayoral campaign four years ago.

In 2021, Rybak funneled tens of thousands of dollars to Adams' successful mayoral bid through his company employees, subcontractors, and associates. While he was not registered as a "bundler" under campaign finance law, his actions were seen as an attempt to curry favor with the mayor's office. The donations helped unlock over $42,000 in public funds through the city's 8-to-1 matching program.

Critics argue that Rybak's selection for the contract highlights the lingering impact of alleged corruption and pay-to-play schemes in the Adams administration. "The problem with the corruption at City Hall is you can't tell a clean deal from a dirty deal," said John Kaehny, head of Reinvent Albany, a good government group. "Rybak is an accomplished real estate developer who knows the turf. The question is: would he have gotten the contract without the contributions? We just don't know."

NYCEDC spokesperson Erica Gould denied any favoritism and stated that Rybak was selected based on his proposal's strength and vision for the project. However, many are questioning whether the city's selection process is transparent enough to prevent similar conflicts of interest in the future.

Rybak Development has a track record of building in Coney Island, including a 499-unit apartment complex and a 112-unit tower. The new project, dubbed Tilyou Towers, will be named after George Tilyou, who founded the original Steeplechase Park.

I think this is a classic case of "well-intentioned but poorly executed" . On one hand, we have Rybak Development bringing in much-needed housing to Coney Island, which is an area that desperately needs investment. But on the other hand, the perception of corruption and cronyism surrounding the selection process is a major concern .

I'm not saying that Rybak should be disqualified from the project or anything (although it's understandable why some people are worried), but I do think we need to take a closer look at how the city selects contracts like this. Was there a clear, transparent process in place? Did everyone involved have equal access to information and opportunities to provide feedback?

Ultimately, I think what we're seeing here is a symptom of a larger issue: the tension between economic development and good governance . As a city, we need to find ways to balance these competing interests without sacrificing our values or integrity. Maybe it's time for some reforms in our selection process?

I'm so worried about this deal... my kid is gonna love living in Coney Island, but how can we trust that a developer with those ties to the mayor isn't just getting special treatment ? I mean, $42k in matching funds from public money because of some campaign contributions? That's not right! As a parent, you want your kids to grow up in a place where they're treated fairly and not swayed by who's got the most dough . And what about those low- and middle-income renters? Will they be getting a fair shot at affordable housing too? I just don't think this project is adding up...

I'm not sure if it's a good idea to award contracts based on developers' campaign donations... I mean, you're basically saying that if they've got connections with politicians, they'll get the job done . It's like, what about the best proposal? Do we really want to give favors to people who can afford to play the game?

Ugh I'm getting so frustrated with this development ... like seriously can't we do better than just letting people with sketchy pasts get contracts willy-nilly? Rybak's whole situation is just so dodgy - he funnels cash to Adams' campaign and suddenly gets a sweetheart deal? It feels like pay-to-play and I don't trust it one bit. And the fact that NYCEDC is saying there was no favoritism but everyone can see through it ... meanwhile, what about all the low- & middle-income renters who are supposed to benefit from this project? Are they just an afterthought or what? This whole thing smells like corruption to me and I don't think we should be celebrating this development anytime soon

I'm not sure if it's fair to give this contract to Rybak Development just because of his past donations to Eric Adams' campaign. It seems like he has a good track record of building in Coney Island and knows what the community wants, but I guess you can't ignore the fact that he did give Adams a bunch of cash four years ago... 42k might not seem like much, but it's still a lot of money. What if Rybak wouldn't have gotten the contract without those donations? Would we know for sure? I just think it would be better to get some more info about how NYCEDC chooses who gets these contracts so we can trust that everyone is playing fair...

I'm low-key worried about this high-rise deal in Coney Island . I mean, Rybak's connections to Adams' campaign four years ago are a big red flag . You can't just ignore the fact that he funneled cash to Adams' team and now gets a multi-million dollar contract . It feels like pay-to-play all over again . The question is, did his contributions somehow grease the wheels for this deal?

I'm all for developers bringing in new life and investment to Coney Island, but not if it means we're sacrificing transparency and integrity . We need to make sure our city's selection processes are fair and unbiased . Can't have one person getting a sweetheart deal just because they've got the right connections .

NYCEDC needs to do some serious fact-checking and explain how Rybak's background wasn't a factor in his contract approval . I'd want to see more scrutiny on conflicts of interest like this, especially when it comes to public funds . We need to make sure our city is all about building for the people, not just the right connections

OMG is it even surprising that someone with ties to the mayor gets a contract? like what's the point of even having a "selection process" if ppl can just grease the wheels and get ahead? seriously though, shouldn't we be worried about this? I mean, Eric Adams is supposed to be all about good governance and transparency, but it seems like the opposite is happening. how do we even know Rybak wouldn't have gotten the contract if he hadn't thrown around some cash for Adams' campaign? the whole system just feels so rigged

I'm not sure if I'd say this is a bad thing or just a reminder that we need to keep an eye on our city's development process . So Rybak Development gets the contract for Tilyou Towers and they're gonna build some affordable housing in Coney Island, which is awesome! But what's got me thinking is how this whole situation brings up the importance of transparency in our government. I mean, it's not like there was anything wrong with Sergey Rybak donating to Eric Adams' campaign or whatever . But maybe we need to rethink how we give out contracts so that everyone knows the playing field is fair.

And on a more positive note, Tilyou Towers are gonna be named after George Tilyou and he founded Steeplechase Park! That's pretty cool, right? So maybe this high-rise development can be seen as a way to revitalize Coney Island and bring some new life to the area . We should keep an eye on it and see how things go down

I'm low-key concerned about this high-rise development in Coney Island . I mean, Rybak Development is a solid player in the market, but all these shady dealings with Eric Adams' campaign in 2021? It's like they say: "you can't buy favor" . Seriously though, if there's even a hint of corruption, it could undermine trust in the city's development process.

I'm also wondering if this is just another case of crony capitalism . Is Rybak getting preferential treatment because he's friends with the mayor? It seems like the whole selection process was a bit sketchy, and I wish NYCEDC would be more transparent about it . Tilyou Towers might become a beautiful addition to Coney Island, but we need to make sure it doesn't come at the cost of fairness and accountability .

Lastly, what's with the "conflicts of interest" thing? It's like we're just seeing ghosts from the past all over again . Can't we have a more reliable system in place to prevent these issues from arising in the first place? I guess only time will tell how this whole project unfolds

I'm still trying to wrap my head around this whole thing... I mean, I get that Rybak's got some experience with Coney Island and all, but is it too much of a coincidence that he just happens to get the contract after donating big bucks to Adams' campaign? I don't know about the rest of you, but I've seen enough 'pay-to-play' stories in my time to be super skeptical here. And what's up with NYCEDC not doing more to vet Rybak's qualifications and connections before handing over a huge contract like this? It just feels too shady for comfort.

I'm getting that feeling from this story ... what's going on here? So Rybak gets a huge contract to build in Coney Island, but then we find out he was buddies with Eric Adams' campaign team four years ago? That's some shady stuff . I don't think it's too much to ask for transparency when it comes to big contracts and city officials. It sounds like the selection process might be a bit... fishy . If someone's been bundling contributions and getting preferential treatment, that raises questions about whether they'd have gotten the contract without all those "helpful" donations . I'm not saying Rybak's necessarily corrupt, but it's hard to shake this feeling that something isn't quite right .

OMG, this is soooo not cool ! Like, seriously, how can we trust Rybak's decision-making skills when his own company employees and associates contributed to Eric Adams' campaign? It's just too suspicious, you know? The fact that NYCEDC didn't investigate further or consider other developers is, like, super shady . And what about the transparency? Are we really sure this contract was awarded based on proposal strength and vision alone? It's all just too complicated for me .

And can we talk about how Rybak's past actions are coming back to haunt him now? Like, he's not even registered as a bundler, but his company is still getting rewarded with a big contract! It's just so... fishy . I need more info on this one, fam

I'm not buying this whole "no favoritism" narrative from NYCEDC. I mean, come on, Rybak's got a history of trying to grease the wheels for Eric Adams' campaign, and now he's gettin' a sweet contract deal? It's like they're sayin', "Hey, we didn't bribe you, but you know what? You're still our buddy." And don't even get me started on the lack of transparency in this whole selection process. I bet if they'd really looked into it, they would've found some skeletons to hide.

Umm yeah so this Rybak guy gets his contract through Eric Adams' campaign and it's like totally suspicious . I get that he's a good developer and all, but couldn't they've just gone with his proposal blind? Like, shouldn't the city be looking out for its residents' interests too? I mean, Coney Island is already dealing with enough gentrification issues without this high-rise drama unfolding . What if Rybak wasn't even supposed to get that contract and it was all just a favor? The whole thing feels like a mess to me...

this is wild dude... i mean, what's up with these devs just slapping their name on some landmark and thinking they can get away with whatever? it's like they're trying to rewrite history or something! george tilyou founded the original steeplechase park in 1895, but does rybak have any actual connection to coney island that goes beyond just throwing money at eric adams' campaign meanwhile, the city is just sitting there like a bunch of do-nothings, accepting the donation and then awarding the contract to this guy who's basically got a history of shady dealings... what's the criteria here? "oh, you're a good developer, you've got connections, you're willing to throw some cash at our mayor"... sounds like pay-to-play to me

I'm not sure if it's fair to say Rybak got the contract "because" of his donations... I mean, is it really that simple? The proposal was clearly strong and aligned with the city's goals for Coney Island. At the same time, you can't ignore the timing of those contributions and how they might have helped him get an edge in the selection process

On one hand, Eric Adams' campaign should be commended for taking advantage of a matching program that benefits the community as a whole... But on the other hand, it's not ideal that Rybak didn't register his donations properly. Maybe there was just a miscommunication or oversight?

It's also worth considering that NYCEDC has been working hard to revitalize Coney Island and bring in new developments. Does this project really need another layer of scrutiny? Can we focus on the benefits it will bring to the community, like affordable housing for low- and middle-income families?

omg u guys i am literally so done with this situation!!! the fact that Rybak got his contract awarded due to his shady past donations to Eric Adams is just wow... and to think he's gonna get a quarter of those units reserved for low-income renters... meanwhile, the rest of us are just stuck with astronomical rent prices it's like they're trying to play us all for fools. i mean, come on nycedc can't you see what's going on here? or is everyone too busy lining their pockets to care?

idk what's up with these NYC devs ... Rybak getting the contract for Coney Island high-rise is a major red flag in my book . I mean, it's not like he didn't have some cash to toss at Eric Adams' campaign back in 2021 . It's all about who you know and who's got your back, right? But seriously, the fact that NYCEDC is denying any favoritism but we're still left wondering... was it just a coincidence that Rybak won this thing? I'm all for supporting local businesses, but when it comes to city-funded projects, transparency and accountability need to be on point . Can't have our devs playing both sides, you feel me?

I'm getting really annoyed when I see big developers like Rybak just waltzing in and scoring deals without anyone checking their track record too closely . Like, seriously, who gives away a contract to someone who's already been accused of shady dealings? It's not exactly the most reassuring thing for the community. What if Adams was right, and Rybak wouldn't have gotten the contract even with his "donations"? We'll never know . I mean, can't we just see some transparency here? Maybe a clear audit trail or something? That would be nice .