US billionaire tycoon Barry Sternlicht said his company is considering moving out of New York following Indian-origin Democratic leader Zohran Mamdani's election as mayor. He said Mamdani's policies might turn NYC into Mumbai, saying, "The far-left...says tenants don't have to pay...You're basically going to turn NYC into Mumbai." Notably, Mamdani had proposed freezing rent for stabilised tenants.