Billionaire investor Barry Sternlicht warned that New York City could resemble Mumbai due to Mayor Zohran Mamdani's proposed rent-freeze and housing policies. Sternlicht, a prominent real estate figure, expressed concerns that these policies could lead to rent defaults and deter investors from the city.Who is Barry Sternlicht? Billionaire who said Zohran Mamdani will turn New York City into Mumbai
November 12, 2025
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Billionaire investor Barry Sternlicht warned that New York City could resemble Mumbai due to Mayor Zohran Mamdani's proposed rent-freeze and housing policies. Sternlicht, a prominent real estate figure, expressed concerns that these policies could lead to rent defaults and deter investors from the city.
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