Leading figures from the New York business community will henceforth advise Mayor Zohran Mamdani as part of a quarterly advisory board addressing the requirements of the private sector. Fifteen business leaders, including Scott Rechler of RXR, will provide feedback to the Mayor via the Economic Advisory Board to continue the positive development of high employment figures into 2026, as announced by the administration.
The Mayor's office referred not only to exploding office leasing figures but also to robust employment statistics. Employment across the five boroughs reached 4,852,400 jobs in July 2026, with over 6,000 new private sector jobs created in the first half of the year. These data come from a report published on Thursday morning by the New York City Economic Development Corporation.
Mayor Mamdani stated that this board brings together individuals who are shaping the next generation of New York's economy in finance, technology, life sciences, and beyond. The aim is to establish the city as the best place in the world to start a business, grow a business, and build a career. They want the most ambitious people in the world to come here, stay here, and build something here.
The announcement follows criticism of Mamdani by leading private sector figures, such as Ken Griffin of Citadel and Steve Roth of Vornado Realty Trust, regarding the so-called 'Pied-à-Terre Tax'. Mamdani introduced this with a video featuring Griffin's multi-million dollar second home in Manhattan.
Some other members of the Economic Advisory Board who are directly or indirectly involved in the real estate sector include Doug Steiner, Chairman of Steiner Studios, Tony James, Chairman of Jefferson River Capital, the well-known chef Marcus Samuelsson, and Priscilla Sims Brown, President and CEO of Amalgamated Bank.
Scott Rechler of RXR commented in a statement. He noted that Mayor Mamdani and his team have been constructive and responsive partners since taking office. As a New Yorker who cares deeply about the city, he looks forward to working with them and his colleagues on the advisory board to provide candid feedback on what is needed to make New York the greatest city in the world. Rechler is already experienced in working for government advisory boards. In 2022, he was selected as a member of the Metropolitan Transportation Authority’s Traffic Mobility Review Board, which helped develop the recommended toll structure for the future congestion charge in Manhattan’s central business district.
