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Mamdani’s Big Apple takes another hit! Billionaire Google founder Sergey Brin is packing up and leaving NYC. He sold his stake in a realestate fund for 6 cents on the dollar, taking a 94% loss.

94,647 views • 1 month ago •via X (Twitter)

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🤯 MAMDANI INVESTOR EXODUS: Even billionaires have a breaking point! Zohran Mamdani just froze rents on over a million apartments in New York City. Investor Sergey Brin just responded by walking out the door! The world's third-richest man dumped his entire stake in a NYC rent-stabilized apartment fund for six cents on the dollar. Not a typo. Six cents. That is what Mamdani's socialist utopia looks like in practice. A $268 billion man taking a bath just to get as far away from New York City housing policy as humanly possible. And Brin is not alone. The fund he fled is sitting on $84 million in unpaid rent and facing foreclosure on a half-billion dollar loan. The University of California already wrote down its own $115 million investment by 50%. Meanwhile Brin took his pennies and quietly bought a $51 million waterfront estate in Miami. That is the market giving Mamdani a one-finger salute on the way out of town. An A&E Real Estate spokesperson put it plainly: "Institutional capital - both equity investors and lenders - are fleeing New York City's rent-stabilized apartment sector. They understand New York is in a doom loop." A doom loop. Built by design. Celebrated as compassion. Margaret Thatcher said it best: "The trouble with socialism is that eventually you run out of other people's money." New York is not running out. It is chasing the money out. There is a difference, and it is worse. When the capital is gone, the maintenance stops. When the maintenance stops, the buildings rot. And the same tenants Mamdani claims to be protecting will be the ones living in the wreckage. This is not a rent freeze. It is a slow-motion demolition of the housing stock, dressed up in the language of justice. Congratulations, New York. You got the mayor you voted for.

Bill Mitchell

778,016 views • 2 months ago