Starwood Capital Group
New York Real Estate Billionaire Warns of Housing Crisis Under Mayor-Elect Mamdani's Policies
Nov 12, 2025 11:52 am CST
Starwood Capital CEO Barry Sternlicht expresses concerns about New York City's future under mayor-elect Zohran Mamdani, warning that socialist housing policies could transform the city dramatically while considering relocating his business from Manhattan.
Billionaire Warns NYC Could "Become Mumbai" Under Mayor-Elect Mamdani's Policies
Nov 11, 2025 11:41 pm CST
Real estate billionaire Barry Sternlicht warns that New York City could resemble Mumbai under Democratic socialist mayor-elect Zohran Mamdani, citing concerns about mandatory union rules, rising costs, and tenant protection policies that may drive businesses away from the city.