Posted on 11/16/2025 10:36:04 AM PST by SeekAndFind
New York Mayor-elect Zohran Mamdani’s views have sparked fears that there will be an exodus of companies and capital from the city. But two of the city’s top commercial real estate executives say it’s simply not true, based on leasing activity and new building investments being made, with no pullback in plans ever since it became clear Mamdani would win, and through the democratic socialist’s official election.
“New York City is back,” said Scott Rechler, CEO of RXR, at CNBC’s Delivering Alpha conference in New York on Thursday. “The people who work here, live here, they feel the energy, they have the conviction, and they have every right,” he said.
“In our business right now, we are seeing CEO after CEO committing to the city,” Rechler said. “We’re seeing a record level of leasing in office buildings. And it’s not just for next year, it’s for 2028, 2030, 2032,” he added.
“We will hit over 40 million square feet in commercial office leases signed at the end of this year,” said Bill Rudin, co-executive chairman of Rudin Management. “Companies are growing here,” he said. “We haven’t seen any diminishment in meetings with brokerage firms,” he said of activity since Mamdani’s election. “People keep saying, ‘Any impact?’ No one has put their pencils down. No one is calling the moving trucks. Companies are expanding and taking space,” Rudin said.
One good example: hedge fund billionaire Ken Griffin of Citadel Securities, who is known for being outspoken with his conservative political views. Rudin, along with Steve Roth and Vornado Realty , and Griffin, is breaking ground on a two-million square foot new office building at 350 Park Avenue. “Ken is committed and will have more employees at 350 Park than in Miami,” Rudin said.
(Excerpt) Read more at cnbc.com ...
Of course they would say that.
Hmm mm? Who knew A socialist NYC would become a mecca for office space rental and businesses moving there.
How could they possibly know?
This is called “providing cover for clients”...
Just a matter of time.
wy69
The sheep are lining up to get fleeced.
https://www.campaignmoney.com/political/contributions/scott-rechler.asp?cycle=20
Some of Rechler’s donations (including gun control, ActBlue, Karen Bass, etc)
RE: Who knew A socialist NYC would become a mecca for office space rental and businesses moving there.
Many of these office projects have been pre-planned before the November 2025 election. It would be foolish to say you’re leaving before Mamdani even takes over and just waste tens of millions of dollars on what you’ve already spent.
We don’t even know if Mamdani can implement any of his “free” stuff. They’ll have to be paid for through tax hikes ( which only can be done by legislators in Albany ) or going into debt. One thing he has no power to do is print money.
Obviously, there are not that many intelligent people for NYC to lose. However, those few are wealthy and their loss will have an outsized impact on the Utopian state.
Plus, many many deadbeats are making tracks to NYC as quickly as possible.
It’s New York City.
It’s lies built on top of lies built on top of more lies.
Everyone hopes the other person believes their lies.
“The people who work here, live here, they feel the energy, they have the conviction, and they have every right,”
...uhhh sure.
Thank you! That tells us everything we need to know about this dip.
NYC can imposes municipal taxes - incl. municipal income taxes - and hike them ad libitum - without the consent of Albany.
Regards,
Two rat donors with monetary interest in keeping property values up would never lie to you would they?
Foreign influence
America is nothing more than a market to them...a host for parasites like them.
Give it some time.
Saul Alinskys
RULE 1: “Power is not only what you have, but what the enemy thinks you have.” Power is derived from 2 main sources – money and people.
Do not give Mamdani more credit than he deserves which isn’t much.
What they do not know is how many businesses will avoid NYC and NYS due to the sick politicians.
He isn’t in office yet.
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