The New York City mayoral race is reaching a breaking point as former Governor Andrew Cuomo intensifies efforts to stop Democratic Socialist nominee Zohran Mamdani. On Tuesday, Cuomo met privately with more than 80 business and real estate leaders at the Seagram Building in Manhattan to rally support and present himself as the only viable alternative.
The meeting was organized by developer Jeff Blau, CEO of Related Companies, and featured some of the city’s most influential executives. Cuomo told the group that voters will soon face a clear head-to-head choice between himself and Mamdani, regardless of whether incumbent Mayor Eric Adams or Republican nominee Curtis Sliwa remain in the race. Current polls show Mamdani holding a strong lead, with Cuomo trailing but consolidating financial and institutional backing.
Cuomo’s campaign has recently picked up momentum with major endorsements. Billionaire investor Bill Ackman, who had previously supported Mayor Adams, announced last week that he is now backing Cuomo and urged Adams to step aside. Cuomo also secured the endorsement of IBEW Local 3, the city’s largest electrical workers union representing 29,000 members. Union leaders said Mamdani’s socialist platform is dangerous for New York and incompatible with the needs of working families.
Mamdani, a state assemblyman from Queens, is running on a far-left agenda calling for steep tax hikes on corporations and wealthy residents, as well as a reorientation of city spending toward socialized housing and expanded welfare programs. Critics warn his policies would drive businesses and jobs out of the city, accelerating financial decline.
Cuomo has framed his candidacy as a defense of stability and pragmatic leadership. By uniting business leaders, organized labor, and moderate Democrats, he hopes to present a broad coalition to defeat Mamdani in November. The race now represents a high-stakes battle over the future of America’s largest city: whether it will remain a hub for commerce and opportunity, or shift toward socialist governance.
