November 5, 2025
Democratic Candidate Zohran Mamdani was elected the next mayor of New York City on 04 November, becoming first Muslim and person of South Asia descent as well as the youngest person in over a century to hold the position. Mamdani’s campaign mainly focused on affordability measures, including rent freezes, fare-free city buses, increased minimum wage by 2030 and higher taxes on big corporations and the wealthy. The political shift introduces significant regulatory uncertainty for New York City’s business and real estate sectors, as well as potential federal funding cuts by United States President Donald Trump.