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Billionaire Barry Sternlicht opposes Zohran Mamdani’s rent freeze, warning it could harm NYC’s economy and spur decline.
Billionaire real estate investor Barry Sternlicht has strongly opposed New York City Council candidate Zohran Mamdani’s proposed rent freeze, warning it could harm the city’s economy and lead to urban decline akin to Mumbai.
Sternlicht, whose firm holds major real estate interests in the city, called the policy anti-business and said it could prompt companies to relocate.
His concerns reflect broader unease in the commercial real estate sector over Mamdani’s tenant-focused proposals, though some industry leaders remain open to dialogue.
The debate underscores escalating tensions between housing advocates and investors over the city’s future.
El multimillonario Barry Sternlicht se opone al congelamiento del alquiler de Zohran Mamdani, advirtiendo que podría dañar la economía de Nueva York y estimular el declive.