Zohran Mamdani, a 33-year-old socialist, won the Democratic primary for New York City mayor, surprising many, including real estate executives. His radical ideas include rent freezes and targeted tax plans. Marc Holliday of SL Green is hosting a $2,000 per ticket fundraiser for Mayor Eric Adams to support his independent campaign. Mamdani's campaign has attracted young wealthy supporters, yet discussions about the viability of his socialist policies persist. He promises to freeze rent rates and critiques Adams for high rent increases.
Zohran Mamdani, the 33-year-old socialist and Democratic nominee for mayor of New York City, shocked the political establishment with his primary win last month, including New York City real estate executives, with his radical ideas, like rent freezes and tax plans that single out specific neighborhoods.
Holliday invited dozens of New York City's top real-estate executives to the rooftop cocktail event Wednesday, costing $2,000 each, two people who planned to attend shared with The Wall Street Journal.
While a group of young, wealthy supporters have invested in the 'Mamdani Millionaires' movement, questions remain about how Mamdani's socialist policies would impact New York City.
One of Mamdani's key campaign promises is to freeze rent rates. Mamdani has accused his opponent, Adams, of appointing Rent Guidelines Board members to raise rents on stabilized apartments.
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