Zohran Mamdani and the business exodus? New York's office real estate market is up under new mayor
📖 Full Retelling
Reports Apollo Global Management is planning a second HQ in the US South renewed debate over a business exodus under NYC Mayor Mamdani. Data doesn't support it.
Entity Intersection Graph
No entity connections available yet for this article.
Original Source
To learn more about the CNBC CFO Council, visit cnbccouncils.com/cfo The Bottom Line Zohran Mamdani and the business exodus? New York's office real estate market is up under new mayor Published Sun, Apr 5 2026 11:31 AM EDT Updated 8 Min Ago Krysta Escobar WATCH LIVE Key Points Reports last week that Apollo Global Management was planning to open a second headquarters in Florida or Texas renewed talk about a business exodus from New York City due to the new mayor Zohran Mamdani's tax policies. Expansion to southern states is a well established trend in recent years for Wall Street firms and many other corporations. JPMorgan Chase has more workers in its Dallas office than in New York City. Manhattan commercial real estate market data for the first quarter of 2026 shows office leasing activity and rents are up while the vacancy rate declines, as corporations continue to sign new leases, with AI companies particularly active. In this article Follow your favorite stocks CREATE FREE ACCOUNT Zohran Mamdani, mayor of New York, center, during a ground breaking ceremony for Timbale Terrace in New York, US, on Wednesday, Feb. 18, 2026. Bloomberg | Bloomberg | Getty Images Fears of a corporate exodus from New York City are likely to be a recurring feature of New York City Mayor Zohran Mamdani's term, with each business real estate decision magnified as a potential tipping point signal that the Democratic Socialist's tax, real estate and wealth policies are pushing businesses away. The debate was amplified last week amid reports that private equity giant Apollo Global Management was planning to add a second headquarters outside New York City, in a southern U.S. state like Florida or Texas. Since being elected, Mamdani's administration has said it will look at every viable option to help raise revenue and fill a $5.4 billion budget deficit for the city, but his preference has not changed from what he ran on: "tax the rich." That has resulted in a political standoff with New York ...
Read full article at source