Jewish business and finance sector figures told JNS that they have concerns after Zohran Mamdani was elected mayor of New York City last week, warning that uncertainty around his progressive agenda could have significant financial implications for the city’s Jewish-owned and pro-Israel enterprises and real-estate investors.

Mamdani, who won the mayoralty with strong first-choice voter support, ran on a platform that includes a rent freeze on stabilized apartments, constructing 200,000 subsidized homes, city-operated grocery stores, fare-free buses and a minimum wage of $30 by 2030. He has said he would pay for these programs by increasing corporate taxes and imposing an additional 2% income tax on top-earners.

William Stern, founder and CEO of Cardiff, a national small-business lender, t

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