NYC’s new socialist mayor sparks business concerns over costly programs

The newly elected mayor of New York Metropolis has promised sweeping adjustments upon taking workplace, together with a lease freeze and common free youngster care. However his democratic socialist messages, critics say, have some New Yorkers on edge.

Councilor Inna Vernikov, whose household fled the Soviet Union, mentioned she is “completely devastated” by what she known as town’s shift towards socialism.

“The previous Soviet Union was a communist nation, and we fled right here within the ’80s and ’90s from capitalism, from the free market financial system, from the American dream,” Vernikov mentioned Saturday as a part of a panel on ‘FOX Enterprise In Depth: Socialism Risk and the Way forward for Capitalism.’

Zohran Mamdani, the newly elected mayor of New York Metropolis, arrives for an election evening occasion on the Brooklyn Paramount theater within the Brooklyn borough of New York on Tuesday, November 4, 2025. (Adam Grey/Bloomberg/Getty Photos/Getty Photos)

“We turned docs, we turned legal professionals. I am a member of the federal government within the best metropolis on this planet, and the concept that all the things we escaped is coming right here is totally unimaginable,” she added.

Fox Information Digital has reached out to representatives for Zohran Mamdani for remark.

MAMDANI’S SOCIALIST DREAMS WITHIN REACH AS PRESSURE ON HOCHUL GROWS, INSIDER PREDICTS

Mamdani, a self-described democratic socialist, was declared the winner of the mayoral race on election evening. He defeated former Governor Andrew Cuomo and Republican candidate Curtis Sliwa.

His platform included a lease freeze, free public buses, common childcare and a pilot program of city-run grocery shops in each neighborhood.

New York Metropolis mayoral candidate Zohran Mamdani, heart, celebrates with Senator Bernie Sanders, left, and Rep. Alexandria Ocasio-Cortez, proper, throughout an election rally at Forest Hills Stadium in Queens, NY, October 26, 2025. (Andres Kudacki/Getty Photos/Getty Photos)

The value tag of those packages has some enterprise leaders questioning how Mamdani can pay for them.

‘ESCAPE FROM NEW YORK’: RESEARCHER PREDICTS NYC BUSINESS OUTCOME IF ZOHRAN MAMDANI WINS

“Are [going to] turn out to be tougher,” businessman John Catsimatidis instructed FOX Enterprise’ David Asman.

Catsimatidis has repeatedly spoken out towards Mamdani and threatened to maneuver his grocery store chain Gristedes out of town.

MTA buses in New York Metropolis Thursday, November 6, 2025. (Michael Nagle/Bloomberg through Getty Photos)

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Marcus Lemonis, CEO of Tenting World, additionally expressed issues about working companies in New York Metropolis, although he acknowledged that affordability is a nationwide concern for a lot of People.

“Affordability is a matter in all places. It isn’t simply in New York Metropolis, from Seattle to Minneapolis to Chicago, wherever it could be,” Lemonis mentioned.

Mayoral candidate Zohran Mamdani speaks to supporters throughout a marketing campaign rally in Prospect Park in Brooklyn. (Stephanie Keith/Getty Photos/Getty Photos)

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“However I’m very assured, and you’ll most likely anticipate me to say this: that capitalism will all the time win and that the thought of ​​socialism is, for my part, a great experiment,” he mentioned.

This is evident from a Fox News poll that affordability was one of many primary causes Mamdani rose to victory. Fifty-six p.c of voters believed that the price of dwelling was crucial problem going through New York Metropolis. It was adopted by crime at 22% and immigration at 9%.