The publicly traded property companies are a good barometer of how investors regard the prospect of a socialist mayor.

When Zohran Mamdani met last month with the city’s top businesspeople, he was pressed by Rob Speyer, CEO of real estate giant Tishman Speyer, to explain a glaring gap in his agenda: How would he ensure that his vow to freeze rents for New York’s 1 million stabilized apartments does not bankrupt the city’s growing number of distressed apartment buildings?

Zohran Mamdani’s mayoral primary victory in New York follows wins by other big-city progressives. Are voters more open to backing progressive stances?