Mamdani Donations Draw Real Estate Support Post-Election

Mayor-elect Zohran Mamdani received at least $40,900 from real estate-related donors for his transition team in late November, despite the industry’s prior opposition to his campaign.
The donations account for less than 2% of the over $2.6M raised during that period; total transition fundraising has since topped $3M.
Donors include developers, brokers, and investors—some of whom supported Mamdani before the election—highlighting a nuanced relationship between the new administration and the real estate sector.

Key Takeaways

A Shift in Strategy

Despite widespread industry efforts to prevent his election, Mayor-elect Zohran Mamdani has attracted post-election donations from several real estate professionals. According to The Real Deal, recent filings show that between Nov. 5 and Nov. 30, at least $40,900 was donated by individuals tied to development, construction, property management, architecture, and brokerage.

These contributions come as Mamdani raises funds to staff and operate his transition team, which has pulled in more than $3M as of early December.

Who’s Giving

Among the real estate contributors:

Gideon Friedman (Beachwold Residential CEO) and Joseph Kaempfer each gave $3,700. Both were early Mamdani supporters through campaign and PAC contributions.
Craig Harwood donated $2,000, and David Sigman of LCOR contributed $250.
Albany-based Faraz Khan and New Jersey investor Mustafa Ladha each added $3,700.
Jodi Pulice of JRT Realty gave $2,000 despite previously supporting former Gov. Andrew Cuomo’s mayoral bid.

JRT Realty has worked on city lease deals and is potentially impacted by new city brokerage RFPs released in May.

Some of these donors had already begun engaging with Mamdani’s policy platform prior to the election, reflecting early signs of cooperation between the incoming administration and segments of the development community.

What’s Next

Two weeks ago, Mamdani named 24 members to his housing transition committee, pulling from tenant advocates, real estate firms, unions, and pro-housing groups. Key appointments to city housing agencies—like HPD, City Planning, and the Department of Buildings—are still pending.

Meanwhile, housing groups are pushing back against several City Council bills they say could raise HPD’s budget needs by over $500M annually, citing affordability and feasibility concerns. These bills face a Dec. 18 deadline.

Why It Matters

While Mamdani campaigned on an affordability-first platform that challenged entrenched real estate interests, the latest contributions suggest some in the industry are preparing for pragmatic collaboration. With major housing and development policy changes on the table, the sector is likely to stay engaged—even cautiously—with the incoming administration.