What do you do if you couldn’t sell your house for $8.7 million in 2021? Bring it back on in 2025 for $11.250. It'll probably work, too, especially after Tuesday’s primary results (Updated)
/200 Shore Road, now $11.250. Greenwich’s real estate market may be about to enjoy a Mamdani surge, inshallah.
UPDATE: Maybe Greenwich won’t see an influx of rich refugees after all, and I get it: New England, including Connecticut, has increasingly become a hostile environment for businesses and those with taxable income (about 30% of the population, I’d estimate) and if the financial industry, in particular, can pretty much operate from anywhere, why move from the fire to an ever-hotter frying pan? Go west or south, young man.
Wall Street Panics Over Prospect of a Socialist Running New York City.
“I can’t believe I even need to say this, but socialism doesn’t work,” said Anthony Pompliano, CEO of Professional Capital Management, a bitcoin-focused financial services company. “It has failed in every American city it was tried.”
There were renewed questions about whether Wall Street executives would stay in New York or if Mamdani’s plans for the city would send more financiers to states such as Florida and Texas. Some executives cited concerns about taxes and crime under a potential Mamdani administration as well as fears of rising antisemitism.
Sander Gerber, chief executive of investment firm Hudson Bay Capital, said he fielded texts from some of his 170 employees who said they were “thinking of leaving.”
Some developers and landlords said they are already making plans to exit New York and focus on more business-friendly markets like Miami, Dallas or Nashville.
“I’m depressed and sad,” said Ricky Sandler, who runs Eminence Capital, a Midtown Manhattan hedge fund, which employs 55 people. “If Mamdani becomes mayor, I will likely move my business and family out of New York.”