M
ayor‑elect Zohran Mamdani pledged to curb rent and real‑estate costs, yet many agents predict the opposite trend. “When inventory falls, prices climb,” one realtor—speaking anonymously—explained. “If Mamdani halts development, as he’s vowed, the market will tighten. Coupled with a surge in foreign, especially Middle‑Eastern, investment, the result is higher prices.” The influx of capital chasing a shrinking supply has led the source to urge clients to keep their properties, even those considering leaving the city amid post‑election concerns over rising antisemitism and Mamdani’s stance on Israel. “Every Jewish client I have in New York calls me; I tell them to hold on,” the realtor added.

    Business owners echo this caution. A Brooklyn restaurateur who had planned a larger space now delays expansion, saying, “No one will invest in NYC until we understand the severity of Mamdani’s policies. There will be a significant pause.” Small‑business owners and executives report a near‑halt in investment, while a Financial District analyst noted that Mamdani’s victory heightens Wall Street anxiety, especially during a government shutdown.

    Although it’s too early to gauge the full impact of Mamdani’s agenda, corporate leaders will monitor whether he moderates his promises or follows through. One real‑estate source quipped, “Investment is pausing, but New York has weathered worse than a 34‑year‑old TikToker.”