There’s a chill in the city, and it’s certainly not the weather. It’s the unmistakable sense that New York, once the capital of American enterprise, is now turning its sights on the very people and institutions that built it. First, they came for the real estate professionals. Now, the crosshairs are moving.

Background

The FARE Act, sponsored by Council Member Chi Ossé, was pitched as a win for tenants—a way to make renting more affordable by shifting broker fees from renters to landlords. But the reality was swift and brutal: within a week of the law taking effect, rents in some neighborhoods jumped as much as 15% as landlords scrambled to recoup their new costs. Hundreds of listings vanished overnight, and confusion reigned as both renters and brokers tried to navigate the new landscape. The city’s attempt to “level the playing field” instead delivered a shock to the very people it claimed to help, while destabilizing a sector that has long been a pillar of New York’s economy The Real Deal, MSN.

But the story doesn’t end with real estate. Last night, Zohran Mamdani, a self-described democratic socialist, clinched the Democratic primary for mayor. His campaign promises a radical transformation: a citywide rent freeze, government-run grocery stores that pay no rent or property tax, a $30 minimum wage by 2030, and even proposals to use the subway as a homeless shelter. The rhetoric is populist, the policies sweeping, and the targets are clear: anyone who owns, operates, or invests in private enterprise Zohran for NYC.

Key Insights

The consequences are already rippling outward. Take Gristedes, a New York institution that’s been feeding the city since 1888. With over 30 stores across Manhattan, Brooklyn, and Westchester, Gristedes is woven into the fabric of daily life. Now, its owner, John Catsimatidis, is openly threatening to pull out of New York altogether if Mamdani’s plan for city-run, rent- and tax-free grocery stores becomes reality. “We can’t compete with Mamdani opening city-run supermarkets for free,” Catsimatidis said, underscoring the existential threat to private business posed by these new policies Gristedes, Supermarket News.

This is not just about real estate, or groceries, or even one election. It’s about a city that once celebrated enterprise now punishing it, one sector at a time. The FARE Act’s rent spike was a warning shot. The threatened loss of a 136-year-old grocery chain is a siren. If you think your industry is safe, think again. The appetite for scapegoats is far from sated, and the playbook is clear: when politicians run out of ideas for genuine leadership, they look for easy villains and promise easy fixes.

Conclusion

The bottom line: This is not just about real estate, or even about groceries. It’s about the future of New York as a place where private enterprise can thrive. Today, they come for us. Tomorrow, they come for you. Speak up while you can.

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