Why Mamdani’s NYC mayoral surge is unsettling some businesses

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Business leaders in New York City on Wednesday expressed concern over the progressive Democrat Zahran Mamadani’s warmth after a possible victory for the mayor a day ago for the mayor.

New York, the country’s most important financial center, has more than a trillion dollars to the annual GDP and more than any city in the country, many of which are struggling with high cost of rent, health care and grocery.

These concerns encouraged voters to come out in preliminary voting, and on Tuesday 100 degrees Fahrenheit Heat (37.7 degrees Celsius), 33 -year -old Mamdani, who was a self -styled democratic socialist, who was the former governor of New York, in the first New York state of New York. The final results of the city’s ranking selection system will not be known for a few weeks.

Mamadani campaigned on frozen fares, free buses, and subsidies, policies that business leaders say they cannot solve the cheap crisis and force many to leave the city in danger of more taxes. It has also called for a high minimum wage and a new office to promote small businesses.

Think about the founder and chief executive officer and chief executive officer of professional capital management, and one of the greatest investors in Crypto Cornence, and a person who is proud of being a socialist. “Ironically doesn’t even start to describe the situation.”

Mamadani did not respond to the immediate request.

He will still have to win the November general election against the current Mayor Eric Adams, who is running as an independent, and Republican Curtis Silva, who lost to Adams in 2021. Koomo can also contest freely in the general election.

Especially in Manhattan, the commitment to freeze the fare was resonated, where the median monthly fare record for the apartment is at $ 4,571. The tenant usually needs to earn 40 times the fare. As mayor, Mamadani will have the authority to appoint members of the city’s rent guide letters. Apartment owners say such a move will make buildings uninhabited.

“Four -year -old rent freez everyone, but ensuring that these buildings fully collapsed,” said Kenny Bergos, chief executive officer of the New York Apartment Association. “I sympathize with people who have a problem with rental costs and lack of cheapness, but need a dialogue that is on policy that does not neglect the cost.”

Shares of Banks based in New York fell on Wednesday, with flag star financial and flushing financial, by 3.8 % and 3.4 %, respectively.

According to real estate company Douglas Eliman, by May, Manhattan’s middle fare was 7.6 percent higher than a year ago, 6.6 percent higher in Northwestern Queens, and in Brooklyn’s record.

“I have been living in New York since 1990.” Most young people I know must have a room partner, said Mark Chandra, chief market market strategic.

Mamadani also campaigned at subsidized grocery stores, which opposed the store owners.

“If he opens stores and does not give this product anything on the city’s budget, how do you compete with City Hall?”

According to the New York Independent Budget Office, if selected, if selected, the city’s declining operating budget surplus will also have to compete, which is decreasing by the city’s workforce due to retirement from the city.

The hedge fund’s executive, who fled for the mayor but also attracted to his help, said Madani was “completely disqualified to become one of the world’s largest, most complicated cities in the world, and he predicted that Adams would support Komo to defeat Koom.

Hedge Fund Managers Bill, a man and Daniel Lob, blew the results on social media after the results, in which Loub posted a meme about Florida real estate agents in which he was laughing.

Chandler rejected the idea of ​​a massive emergence. “If I heard this every time I had come out, I wouldn’t have to work anymore.”