CNBC's Robert Frank joins 'Squawk on the Street' with the latest news on how wealthy New Yorkers are planning for a potential Zohran Mamdani administration, top concerns among business leaders, and more.
Breakdown
- Mamdani's primary win has led to concerns among wealthy New Yorkers and business leaders.
- Some developers are freezing projects and business owners are considering leaving if taxes rise. 16s
- Mamdani proposes a 2 percent income tax on those earning over $1 million, but only the state can approve such changes. 31s
- Luxury real estate sales remain strong despite concerns, and New York's ultra-wealthy population continues to grow. 1m 4s
- Public safety and Mamdani's approach to policing are also major concerns for residents. 2m 0s