B
usiness people in New York are facing a difficult decision in the Democratic primary for mayor, with many desperate to prevent Assembly member Zohran Mamdani from winning. To counter his campaign, they've donated millions of dollars to pro-Cuomo PACs. However, an independent poll shows Mamdani overtaking Cuomo in the eighth round of ranked-choice ballots.

    The poll by Emerson College reveals how secondary-choice votes flow as the last-place candidate is eliminated. State Sen. Zellnor Myrie's and Scott Stringer's support largely spills over to Comptroller Brad Lander and City Council Speaker Adrienne Adams, while the speaker's votes go to Mamdani and Lander more than Cuomo.

    Mamdani has gained momentum with campaign rallies and endorsements, making up for Cuomo's early advantage in name recognition. He's tried to broaden his appeal to moderate voters by changing his mind on for-profit development. However, real estate professionals are still opposed to him due to his far-left policies, outspoken opposition to Israel, and lack of experience.

    Some of Mamdani's positions are overstated, but the fear among real estate professionals is genuine. They're viscerally opposed to socialism, strongly support Israel and the police, and would lose money and properties if stabilized rents were frozen. A LinkedIn post by Avi Lebor, director of acquisitions at Kushner Companies, reflects this sentiment.

    Mamdani has clarified his stance on some issues, such as creating a Department of Community Safety instead of defunding the police. However, his refusal to condemn slogans like "globalize the Intifada" has led some to perceive him as anti-Semitic. Lander, who is Jewish and pro-Israel, cross-endorsed Mamdani.

    The real estate industry has been largely silent about Cuomo's history of vindictiveness, bullying, and questionable ethics. However, they're concerned that Mamdani's proposals would lead to a financial disaster, citing his plan to borrow $70 billion for affordable housing.