The unexpected victory of Democratic Democratic Socialist Zohran Mamdani as an alleged democratic candidate for the mayor confronts business leaders with a dilemma: building bridges to a candidate to which they oppose too much on the left or put himself behind the mayor Eric Adams for the re -election.
All signs indicate the Adams option, because the outgoing mayor launches his campaign as an independence after abandon its offer for democratic appointment.
The day after this week’s primary elections, real estate chief Scott Rechler said he said he Support Adams Despite the many scandals that have engulfed the mayor.
“You want to have leadership that talks about what New York is,” said Rechle. “It is the capital of capitalism.”
Another key business manager, who asked not to be appointed, said it more precisely: “What should we lose?”
This is not the result that the leaders expected. They had generally abandoned Adams when he had collapsed in scandals and had merged behind the former governor Andrew Cuomo, whose independent Super Pac received the city Millions of dollars from them. Rechle, a longtime friend and informal advisor from Cuomo, gave $ 250,000 to the CAP. Former mayor Michael Bloomberg donated just over $ 8 million.
The problem for business leaders is twofold. Unlike progressives like the Brad Lander controller, they do not know Mamdani and have no connection with him. More importantly, its policies, in particular calling for a four-year rent freeze on regulated apartments and an increase in taxes on companies and rich New Yorkers, are an anathema for them.
“The previous comments and the rhetoric of Mamdani’s campaign raise serious concerns in the city’s business world,” said Kathy Wylde, CEO of the partnership for New York, which represents large companies. “Most do not know him, but fear that he is not well informed of the budgetary and economic challenges facing our city.”
Real estate interests make the same argument.
“Based on candidates’ campaign platforms, in November, voters will have to choose between practical or fanciful and extreme means of continuing the decline in crime, building very necessary accommodation and creating good jobs,” said James Whelan, president of the New York real estate box, in a statement.
Wylde and Whelan represent the city’s commercial establishment. Billionaires like Bill Ackman who ridiculed Mamdani on social networks are not part of the group. But they have the ability to pay millions of people in November if they wish, that is what Ackman said on Thursday that he would do if he was convinced that there was a viable candidate to oppose Mamdani.
“New York City Under Mamdani is about to become much more dangerous and economically non -viable,” said CEO of Pershing Square poster Social media on Wednesday.
The mayor could also expect great gifts for Crypto leaders, who were part of the The biggest contributors to 2024 campaigns And whose interests the mayor were deceived even before his elections.
In a sign of the captivating business leaders of uncertainty, none of the local chambers of commerce responded to a request from the city during their reaction to the elections.
One possibility is that managers could use Mamdani allies as a way to connect, explains Suri Kasirer, one of the most important lobbyists for commercial interests.
“People like Brad Lander will be very important to build bridges,” she said. “And many people in the business world have a relationship with Brad.”
She also thinks that leaders could seek to influence the election of a municipal council speaker who would be more in line with their opinions and could serve as a check on Mamdani than it was.
The Mamdani campaign has contacted groups of companies like Rebny and the partnership for New York to organize meetings. But a campaign spokesperson castigated those who said they will oppose him.
“What these billionaires and business leaders are so afraid is that our Pklan taxes and the most profitable companies a little more to finance a program to reduce the cost of living for all New Yorkers,” said spokesman Andrew Epstein. “Zohran is committed to fighting for an affordable and safe city for everyone, whether or not you have money to buy corrupt politicians.”
Wylde called on Wednesday afternoon with business leaders to assess the results.
“We have discussed the situation and options for the general elections and agreed to see what is going on in the coming days,” she said.