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fter Andrew Cuomo's defeat in the Democratic primary, the real estate industry has shifted its focus to Mayor Eric Adams. Campaign filings show that real estate and construction professionals donated over $480,000 to Adams' campaign after June 24, with many of these contributions coming from executives at companies like SL Green Realty and A&H Acquisitions. Employees of SL Green Realty alone gave over $67,000 to the mayor's campaign, although it appears not all donations from a recent fundraiser have been reported.

    Notable real estate donors who contributed the maximum amount of $2,100 after June 24 include Robert Adjmi, Joseph Moinian, Daniel Brodsky, Adam Spies, Isaac and Richard Chera, Sonny Cayre, Darcy Stacom, and Kenneth and Maria Fishel. These individuals have previously supported Cuomo, but now seem to be backing Adams as he runs for re-election.

    Cuomo's campaign received a paltry $2,115 in contributions after the primary, with most of his donors abandoning him following his loss. In contrast, Adams' campaign reported $1.5 million in contributions from June 10 to July 11, with many of these donations coming from real estate-related sectors.

    The shift in support is likely due to concerns that a Democratic socialist like Zohran Mamdani could implement policies that would harm the real estate industry. Mamdani has pledged to freeze rents and raise taxes on the wealthy to fund affordable housing initiatives, which has some business leaders nervous. He recently met with city leaders, including Related Companies' Jeff Blau, who expressed concerns about the potential impact of his policies on the private sector.

    Mamdani has also addressed criticism over his views on the war in Gaza, pledging not to use language that could be interpreted as anti-Semitic and instead focusing on supporting Palestinians. Despite these efforts, it remains to be seen whether Mamdani can win over the real estate industry's support.