Close Menu
Truth Republican
  • Home
  • News
  • Politics
  • Business
  • Guns & Gear
  • Healthy Tips
  • Prepping & Survival
  • Videos
Facebook X (Twitter) Instagram
Truth Republican
  • Home
  • News
  • Politics
  • Business
  • Guns & Gear
  • Healthy Tips
  • Prepping & Survival
  • Videos
Newsletter
Truth Republican
You are at:Home»Business»Real estate moguls throw their money behind Adams as Mamdani threatens to freeze rents
Business

Real estate moguls throw their money behind Adams as Mamdani threatens to freeze rents

Buddy DoyleBy Buddy DoyleJuly 9, 2025No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp
Real estate moguls throw their money behind Adams as Mamdani threatens to freeze rents
Share
Facebook Twitter LinkedIn Pinterest Email

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. 

Marc Holliday, CEO of SL Green, a New York-based real-estate investment trust, is hosting a fundraiser for Mamdani’s opponent, Mayor Eric Adams, at One Madison Avenue, one of his office towers, on Wednesday, according to a Wall Street Journal report. 

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. 

The fundraiser is the latest effort to consolidate financial support for Adams in his independent re-election campaign, after Mamdani’s Democratic primary sent political shockwaves from the White House to Wall Street. 

SOME WEALTHY NEW YORK ELITES SURPRISINGLY BACK NYC SOCIALIST CANDIDATE WHO WANTS TO TAX THEM MORE

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. 

SOCIALIST’S NYC MAYORAL WIN SPARKS FIERCE DEBATE OVER FEASIBILITY OF RADICAL POLICY AGENDA

A video resurfaced last week of Mamdani describing his plan for communal housing with shared laundry, kitchens and bathhouses. He also called for luxury condos to be replaced with communal-style living units that would include shared laundry facilities and food co-ops.

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. 

While landlords and advocates argue the freeze would be illegal, Mamdani could accomplish his ambitious goal by appointing members to the board who wouldn’t vote to increase the rent. 

Assemblyman and NYC mayoral candidate Zohran Mamdani

Former Mayor Bill de Blasio’s board voted to freeze the rent three times during his tenure. 

Mamdani has vowed to deliver his agenda, which includes free childcare and city-run grocery stores, through a “revenue plan” that would “raise the corporate tax rate to match New Jersey’s 11.5%, bringing in $5 billion. And he will tax the wealthiest 1% of New Yorkers — those earning above $1 million annually — a flat 2% tax.”

As details emerge about Mamdani’s plan for the Big Apple’s real estate and tax plans, Noble Black, a New York City luxury real-estate broker, told The Wall Street Journal that Wednesday’s fundraiser will be the first of many.

“Everyone is talking about how much wealth is aligning against Mamdani,” Black told The Journal.

New York City Mayor Eric Adams

The Journal reported that on Saturday, a real-estate power couple, Kenneth and Maria Fishel, co-hosted an Adams fundraiser in the Hamptons with New York City billionaires John and Margo Catsimatidis, real-estate investor Jared Epstein, and others.

And Epstein is planning other events for Adams in August, including a private dinner and social-media-friendly campaign events, according to The Journal. 

The Mamdani and Adams campaigns did not immediately respond to Fox News Digital’s request for comment. 

Fox News Digital’s Alec Schemmel contributed to this report. 

Read the full article here

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleFar-left firebrand says she ‘never had a concern’ about Biden’s mental state as House probe heats up
Next Article TOP 10 BEST TACTICAL GEAR TO HAVE IN 2020

Related Articles

Fed’s favored inflation gauge shows consumer prices rose again in June

Fed’s favored inflation gauge shows consumer prices rose again in June

July 31, 2025
Goldman Sachs CEO shares a vital tip for interns to get ahead in their careers

Goldman Sachs CEO shares a vital tip for interns to get ahead in their careers

July 31, 2025
Delta flight diverted to Minneapolis after severe turbulence, leaving 25 people on board hospitalized

Delta flight diverted to Minneapolis after severe turbulence, leaving 25 people on board hospitalized

July 31, 2025
CBS insiders warn that Skydance merger brings ‘hall monitor’ to news division

CBS insiders warn that Skydance merger brings ‘hall monitor’ to news division

July 31, 2025
Zuckerberg wants to give everyone their own personal superintelligence through Meta’s new vision

Zuckerberg wants to give everyone their own personal superintelligence through Meta’s new vision

July 31, 2025
‘Trump accounts’ for newborns could grow to .9M, Treasury says

‘Trump accounts’ for newborns could grow to $1.9M, Treasury says

July 31, 2025
Sen Chris Murphy lambastes Red Sox owner as Fenway Park concession workers strike: ‘It stinks’

Sen Chris Murphy lambastes Red Sox owner as Fenway Park concession workers strike: ‘It stinks’

July 31, 2025
American distillers hoping for favorable trade deals amid Trump’s tariffs: ‘Industry should be immune’

American distillers hoping for favorable trade deals amid Trump’s tariffs: ‘Industry should be immune’

July 31, 2025
South Korea to invest 0B in US under new Trump trade agreement, tariff rate lowered to 15%

South Korea to invest $350B in US under new Trump trade agreement, tariff rate lowered to 15%

July 31, 2025
Don't Miss
Tell your wife I said so!

Tell your wife I said so!

Fed’s favored inflation gauge shows consumer prices rose again in June

Fed’s favored inflation gauge shows consumer prices rose again in June

Kamala Harris decision not to run in 2026 opens door to possible second presidential run in 2028

Kamala Harris decision not to run in 2026 opens door to possible second presidential run in 2028

Mamdani, Cuomo clash over who is better at supporting law enforcement after Manhattan mass shooting

Mamdani, Cuomo clash over who is better at supporting law enforcement after Manhattan mass shooting

Latest News
Navy vet seeking Michigan seat outlines ambitious proposal to cut taxes for first responders

Navy vet seeking Michigan seat outlines ambitious proposal to cut taxes for first responders

July 31, 2025
Reno, Nevada casino shooting remains a mystery as police reveal suspect fired 80 shots

Reno, Nevada casino shooting remains a mystery as police reveal suspect fired 80 shots

July 31, 2025
Your heart may be older than you think — and the number could predict disease risk

Your heart may be older than you think — and the number could predict disease risk

July 31, 2025
Ohio State Highway Patrol to support Cincinnati on the heels of violent assault caught on camera

Ohio State Highway Patrol to support Cincinnati on the heels of violent assault caught on camera

July 31, 2025
Apparent AI mistakes force two judges to retract separate rulings

Apparent AI mistakes force two judges to retract separate rulings

July 31, 2025
Copyright © 2025. Truth Republican. All rights reserved.
  • Privacy Policy
  • Terms of use
  • Contact

Type above and press Enter to search. Press Esc to cancel.