Many of New York's real estate leaders are unified in trying to prevent self-described democratic socialist Zohran Mamdani from becoming the city's mayor.
Mamdani, the Democrat nominee for November's election, has promised such things as tripling the city's production of permanently affordable, union-built, rent-stabilized homes and freezing rent for all stabilized tenants.
Mamdani's primary victory was a "crushing defeat" for the real estate industry and "dooms struggling rent-stabilized buildings," according to the trade publication The Real Deal.
Infinite Global Real Estate Partners CEO Marty Burger has suggested that peers donate $25,000 each to New Yorkers for a Better Future or another super PAC with the goal of stopping the New York assemblyman from becoming mayor, The New York Times reported.
"Our goal is anybody but Mamdani," Burger wrote in a recent email, the Times added.
Burger's PAC will support Mamdani's rivals, finance potential ad campaigns attacking the Uganda native, and work to register and turn out thousands of normally reticent voters on Election Day.
Former Lt. Gov. Betsy McCaughey is among leaders of another super PAC that has invited donors to a $1,000-per-person fundraiser scheduled for Thursday.
"Fighting Mamdani is expensive," McCaughey wrote on the event invitation, the Times reported. "But allowing him to win will cost you more."
Investor Lisa Blau, who's married to the Related Companies CEO Jeff T. Blau, and Republican allies of President Donald Trump are among people involved in anti-Mamdani groups in various stages of formation.
With Mamdani having supported defunding the police at one time, some corporate leaders may use Monday's deadly shooting at a Midtown building that houses offices for NFL, Rudin Management, and Blackstone.
"This tragedy is not just a moment of mourning; it's a call to reject policies that would make our city even more vulnerable," said real estate executive Jared Epstein, who last week co-hosted a New Yorkers for a Better Future fundraising call with 200 potential donors.
Those trying to stop Mamdani could face a major challenge if several more moderate candidates remain in the race. They include Mayor Eric Adams, former Gov. Andrew Cuomo, GOP nominee Curtis Sliwa, and lawyer Jim Walden.
Mamdani campaign spokeswoman Dora Pekec suggested donors lining up against her candidate are "MAGA billionaires who spent millions trying to defeat Zohran in the primary" and would fail again in the general election.
"New Yorkers are ready to turn the page on endless corruption and backroom deals," she said.
Charlie McCarthy ✉
Charlie McCarthy, a writer/editor at Newsmax, has nearly 40 years of experience covering news, sports, and politics.
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