Mother-daughter real estate brokers Dolly and Jenny Lenz are warning that New York City could face an exodus of residents if Democratic socialist Zohran Mamdani wins the mayoral race this November.
Appearing on FOX Business’ The Claman Countdown on Tuesday, Dolly Lenz said her firm has been fielding calls from clients preparing to leave the city should Mamdani take office.
“There’d be no building,” she said.
“We’re getting so many calls … from people who say, ‘Look, if [Mamdani’s] in, I’m out.’ They’re going to vote with their feet, they’re going to list their apartments, and they’re moving.”
Mamdani, who defeated former New York Governor Andrew Cuomo in the Democratic primary, has campaigned on making one of the nation’s most expensive cities more affordable.
His platform includes multi-year rent freezes and significant investment in public housing.
The Lenzes warned that such policies could effectively stall the city’s real estate market.
“They’re going to Greenwich, to New Jersey, to Florida,” Dolly Lenz said of clients preparing to relocate. “They are not going to be here.”
The pair noted that lower-tax states such as Texas and Florida remain the most popular relocation destinations for those leaving New York, while Californians are increasingly moving to Las Vegas, Nevada. Jenny Lenz added, “Given all this Mamdani news, a lot of people are certainly on it.”
Mamdani’s candidacy has gained momentum in recent weeks. According to data from Interactive Brokers reviewed on Wednesday, he currently has an 81 percent chance of winning the November mayoral election.
“He’s winning by a lot,” Jenny Lenz said, highlighting his consistent lead.
Over the past week, Mamdani’s odds have held steady above 75 percent, while other candidates have struggled to gain ground.
Cuomo, who remains Mamdani’s strongest competitor, has just a 20 percent chance of victory, according to the same market data.
The Lenzes’ warnings come as housing affordability and crime continue to be central issues in the city’s political debate.
Real estate experts caution that any disruption in the market could further impact tax revenue, development, and the broader economic health of the city.
As the race moves closer to Election Day, the contest is shaping up as a referendum not only on housing policy but also on the city’s future economic stability.
With Mamdani holding a commanding lead and critics raising concerns about the potential impact of his proposals, the outcome of the election could have wide-ranging consequences for residents and businesses alike.
