When the vote in the New York Mayoral primary was broken down, it was rich white liberals who delivered that vote to socialist candidate Zohran Mamdani. These are the people who always imagine some socialist utopia where everyone is "equal," and no one wants for anything. When in reality, there is equality all right—the equality of shared misery, except for the same rich white liberals who are not affected by such disastrous policies. However, one group of wealthy New Yorkers can clearly see the writing on the wall of a Mamdani mayoral victory, and they are coming together to ensure it doesn't happen.
New York City real-estate executives are lining up in droves to support incumbent Mayor Eric Adams, and they are bringing lots of cash with them. Marc Holliday is the chief executive of SL Green, a real estate investment trust. He is hosting a $ 2,000-a-person fundraiser on Wednesday. Noble Black is a luxury real estate broker in the Big Apple and says the Holliday fundraiser will be the first of many. He stated, “There’s going to be a lot of these fundraisers. Everyone is talking about how much wealth is aligning against Mamdani.”
READ MORE: New York Real Estate Broker Flooded With Calls From Wealthy Residents Looking to Flee
The New York mayoral primary has been a curious one. Many in the real estate industry originally backed former New York Gov. Andrew Cuomo and threw millions of dollars behind his campaign. Cuomo is considering running as a third-party candidate in the November general election, but has not made a formal announcement. But now, that alliance appears to be kaput, as the real estate community now sees Adams as their best deterrent to Mamdani. Black stated that most of his recent conversations with fellow real estate execs have centered around how best to get Cuomo to drop out of the race so as not to split the anti-Mamdani vote.
High-end buyers now want to purchase properties outside the city. Serhant said his number one job once again will be moving people from NY to Florida. Clients are holding off on making any investments in NYC.
The real estate community appears to be willing to pull out all the stops. In addition to more fundraisers, real estate developer Jared Epstein says that there are efforts to come up with TikTok and Instagram campaigns to rival Mamdani in order to reach younger voters. Campaign events on Long Island and in Brooklyn, where social media influencers will be invited to take photos and videos, are planned as well. Real estate execs must get the attention of the same young voters that Mamdani's primary campaign spoke to.
Zohran Mamdani campaigned on rent freezing, but has recently said that he would work with private developers. Landlords say that rent freezes would smother operating revenue and deal a serious blow to new investment in the city. However, not all new housing units would be subject to rent freezing. Danny Fishman is the CEO of Gaia Real Estate and said bluntly that Mamdani being elected mayor “Would be the death penalty for the city.”
ALSO READ: NYC Mayor Adams Shows He Isn't Giving Up: He's in the Game Now
But it's not just rent freezes that real estate execs should be concerned about. In a recent X video, Mamdani explained his plans for "social" housing. He talks about establishing community land trusts to buy up property on the private market and convert it to community ownership. He talks about a "new era of social housing." Notice that he doesn't use the phrase "public housing." That is because that phrase conjures up nightmarish images of places like Pruitt-Igoe in St. Louis or Cabrini-Green in Chicago. And that is exactly what it would become.
A spokesman for Eric Adams' campaign said, “Since the end of the primary, the phones at our campaign haven’t stopped ringing,” and that the real estate community “is stepping up to support Mayor Adams.” When someone says they want to decimate your livelihood, believe them.
The Democrat Party has never been less popular as voters reject their globalist agenda.
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