New York City business leaders are split on whether to relocate their firms to avoid Mayor-elect Zohran Mamdani's policies [Yahoo! Finance]
STARWOOD PROPERTY TRUST, INC. Starwood Property Trust Inc. (STWD)
Last starwood property trust, inc. starwood property trust inc. earnings: 2/25 07:00 am
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Source: Yahoo! Finance
Real estate investor and Starwood Property Trust CEO Barry Sternlicht told Daily Mail on Sunday that his firm is considering relocating now that Mamdani will be the city's next mayor, and that he expects other businesses to do so as well. The commercial real estate tycoon and founder of Starwood—which reported Monday having $29.9 billion in total assets at the end of the third quarter—suggested that tenants will be emboldened not to pay their rent with Mamdani in charge. “The far-left gets really nuts and says the tenants don't have to pay. Well, you can't kick them out if they don't pay,” Sternlicht said. “So, the neighbor finds out the neighbor isn't paying, and they don't pay, and the next guy doesn't pay, and then you're basically going to turn New York City into Mumbai,” he added, alluding to the city in India dealing with overcrowding, a housing shortage, and poor housing conditions. Mamdani's camp didn't immediately respond to a request for comment. During his mayora
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