Source: In These Times
by Thomas Birmingham & Rebecca Burns
“It is a truth universally acknowledged that a New York City businessperson in possession of an obscene fortune will decamp to Florida if faced with incremental tax and regulatory increases. Or so claimed a chorus of plutocrats scorned by the upset victory of Zohran Mamdani in the city’s Democratic mayoral primary in June. The next night, hedge fund manager Bill Ackman took to social media to warn of a mass defection of his fellow financiers. A day later, real estate executive Danny Fishman declared himself already out. A Mamdani mayoralty ’would be the death penalty for the city’, as well as ’the best thing to happen to Miami and Palm Beach since Covid’, Fishman told the Wall Street Journal. Grocery store magnate John Catsimatidis, meanwhile, threatened to close his Manhattan-based supermarket chain, citing an inability to compete with city-owned stores — though Mamdani has proposed piloting just five.” (09/08/25)
https://inthesetimes.com/article/real-estate-pity-party-zohran-mamdani-tenants-landlord