Overview
- Mayor‑elect Zohran Mamdani, set to take office Jan. 1, 2026, campaigned on raising taxes to fund programs like free buses and free childcare and on expanding eviction protections.
- Real estate billionaire Barry Sternlicht said his firm is considering relocating and warned that tougher tenant policies could embolden nonpayment, comparing potential outcomes to Mumbai.
- Fortune reports that despite public threats, no companies have announced definitive plans to leave New York City, with some business leaders reducing exposure or backtracking from earlier vows.
- Hedge fund manager Ricky Sandler now says he is not planning to move yet, citing concerns over safety, livability and fiscal risk, while grocer John Catsimatidis is weighing a headquarters move but has not committed.
- New Hampshire Gov. Kelly Ayotte’s campaign deployed a Midtown van urging NYC business owners to relocate to her state, promoting lower taxes and fewer regulations.