Latest news with #Manhattan
Washington Post
5 hours ago
- Business
- Washington Post
Open-ocean swimming has many health benefits — and some risks
Denis Crean, a businessman and longtime swimming coach, has pursued his passion for open-water swimming in just about every kind of waterway. He has overcome headwinds at Lake George in Upstate New York, traversed the Tampa Bay and negotiated tricky conditions during a 28-mile marathon swim around Manhattan. 'I remember watching the Empire State Building go by and thinking, 'Wow, we are going fast with the current,'' he said.
Telegraph
6 hours ago
- Business
- Telegraph
New York braces for billionaire exodus after socialist Zohran Mamdani's win
New York is bracing for an 'exodus of billionaires' after the Democrats nominated a staunch socialist as their candidate for mayor. Zorham Mamdani, a 33-year-old 'anti-Zionist', sent shock waves through American politics on Tuesday when he beat Andrew Cuomo, the former governor, in the Democratic primary, earning him the party's nomination for November's mayoral election. A rank outsider, Mr Mamdani was carried to victory by a wave of young voters who were won over by his radical campaign pledges to freeze rents and introduce free public transport and city-run grocery stores, all of which he pledged would be paid for by hiking taxes on the wealthy. The primary result has sparked panic among New York's ultra-rich, with luxury real estate agents inundated with calls from clients looking to relocate or freeze plans to move their businesses to Manhattan. One high-end broker described Mr Mamdani's victory as the 'worst thing for the housing market since 9/11', while another called it the 'nail in the coffin' for New York. 'There's an old saying in real estate: Money goes where it's welcome,' said John Boyd Jr, founder of Florida-based corporate site selection specialist The Boyd Co, who works with a range of multi-millionaire New York-based clients. 'There's alarms going off among many key executives as well as the billionaire class about New York becoming a socialist run city,' he said. Eric Benaim, a leading real estate broker known as 'The King of Queens', said that his phone has been 'blowing up' with clients panicking about the impact of Mr Mamdani's policies. 'One person just liquidated everything. He was just about to make another investment in New York city but he's now going to look elsewhere,' said Mr Benaim, the founder of Modern Spaces. 'It's the most devastating thing (to our industry) since 9/11,' he added. 'We are going to have the biggest exodus of New Yorkers since Covid - except this time, they're not going to come back. That's going to change New York.' Mr Mamdani plans to hike the corporate tax rate from 7.25 per cent to 11 per cent and to charge those earning over $1 million a year an additional two per cent in city income tax, which is expected to cost wealthy households an additional $118,000 a year. Business executives say the proposals have triggered widespread dismay, with Kathryn Wylde, the CEO of the partnership for New York City, which represents top business leaders, warning that 'terror' is being felt by many New Yorkers. Briggs Elwell, the CEO and co-founder of RLTYco, a real estate consultant in New York, told The Telegraph it was 'a time of unique uncertainty'. While James Whelan, president of the real estate board of New York, described Mr Mamdani's proposals on how to cut crime, build houses and create jobs as 'fanciful and extreme'. Many of the city's ultra-wealthy have thrown their weight behind the more business-friendly incumbent Eric Adams, who launched his re-election campaign as an independent on Thursday with a rousing speech in which he declared: 'This is not a city of handouts.' Mr Adams won as a Democrat in his first mayoral bid in 2021, but announced he would run an independent after he saw his popularity plummet following his indictment on corruption charges, which he denied. The case was later dropped by the Trump administration. Late on Wednesday, Mr Adams courted Wall Street sharks and politicos in a Manhattan conference room where they plotted how to block the rise of Mr Mamdani, according to The New York Times. As New York's top one per cent look to leave the city, low-tax states such as Florida, which does not levy income tax, are set to become 'big winners', with Mr Benaim claiming property agents are 'rubbing their hands' at the prospect of wealthy buyers flooding into the state. Mr Boyd said that he has been inundated with enquiries in recent weeks from business executives looking to move full-time to South Florida, which he called 'the sixth borough of Manhattan'. Republicans have been quick to cash in on the so-called 'Mamdani effect', with Jack Ciattarelli, a New Jersey gubernatorial candidate, inviting business owners to move to the state. 'To all the residents and business owners of New York City who don't want a socialist, defund the police, anti-Semitic mayor representing them, I encourage you to move to New Jersey,' Mr Ciattarelli wrote on X. Even members of Mr Mamdani's own party have sought to distance themselves from him, with John Fetterman, the centrist Democratic senator, describing the state assembly member's nomination as 'Christmas in July for the GOP'. Kathy Hochul, the New York Governor, also refused to endorse Mr Mamdani's tax rises in the lead up to the primary, telling reporters: 'I don't want to lose any more people to Palm Beach.' It is not only Mr Mamdani's fiscal policy that has generated consternation among New York's business leaders. A self-described 'anti-Zionist', the mayoral candidate is a staunch Palestinian supporter and incensed members of the Jewish community by refusing to condemn the phrase 'globalise the intifada'. In a city with the biggest Jewish population outside of Israel, this is a major problem, according to Greg Kraut, the CEO of KPG funds, the largest office developer in New York. 'I've probably had about 30 phone calls from clients who are very nervous,' he said. 'Any time there is a headline that says 'anti-Semite socialist wins Democratic party election', that's not good for business, is it?' Experts also fear that Mr Mamdani's plans to pay for free public transport and universal free childcare with tax rises on the wealthy are unrealistic. 'If you are making a million or more in New York City, going from four per cent to six per cent in income tax is a 50 per cent tax increase - it's substantial,' said Nicole Gelnas, a senior fellow focused on Urban Economics at the Manhattan Institute. According to the city's independent budget office, one per cent of households pay 40 per cent of city income taxes, with non-resident tax payers making up the fastest growing group of New York taxpayers. 'It doesn't take many of them to say, 'I can spend eight months a year in Florida and come back here whenever and save myself a lot of money,' to change the tax base,' Ms Gelnas added. Luxury real estate dealers fear Mr Mamdani's support for de-funding the police and abolishing prisons will drive down property prices. He has also endorsed decriminalising prostitution and pledged to block US Immigration and Customs Enforcement agents' efforts to deport undocumented migrants. The last democratic socialist elected mayor of New York was David Dinkins, whose three-year term in office from 1990 was marked by racial discord, a drug epidemic, high levels of homelessness and a soaring murder rate. 'Crime was through the roof, businesses were fleeing and public services weren't being met,' recalled Mr Kraut, warning that the election of Mr Mamdani could herald a return to those dark days. 'People have called me up from Chicago saying: 'You guys are up next,'' he cautioned. Mr Mamdani romped to victory thanks in part to a tidal wave of support from young voters, enamoured with his progressive agenda and slick social media campaign. However, real estate agents warned that wealthy liberal voters' preoccupation with radical left-wing politics is naive. 'Everyone's a liberal until they lose their limo,' said Mr Kraut. 'If those companies and ultra net worth individuals choose to leave the city, your tax base goes bye bye.' Reflecting on the long-term effects on America's wealthiest city, he added: 'New York always survives, but it's just another nail in the coffin.' Mr Boyd warned that the primary result could spook investors in the long-term, potentially sending the city into a downward spiral. He said: 'There's a very significant concern among job creators, investors and the real estate industry that New York is now always one election cycle from being a socialist-run city.'
New York Times
7 hours ago
- Entertainment
- New York Times
What Happened in the Closing Arguments of the Sean Combs Trial
The federal government and Sean Combs's defense team presented their closing arguments this week after extensive testimony in which the music mogul's ex-girlfriends said they were pressured to have sex with male escorts in drug-dazed marathon sessions. Mr. Combs is charged with sex trafficking, racketeering conspiracy and transportation to engage in prostitution, and has pleaded not guilty, saying the sexual encounters were consensual. Jurors are expected to begin deliberating on Monday, which will mark the eighth week of the trial in Federal District Court in Manhattan. Here are some key observations from the closing arguments: The Charges Sex Trafficking The federal prosecutor who delivered the government's closing argument on Thursday, Christy Slavik, emphasized to jurors that convicting Mr. Combs of sex trafficking required only one example of him coercing his girlfriends into sex with prostitutes. For examples of such coercion, Ms. Slavik pointed to Mr. Combs's 2016 assault on Casandra Ventura at a Los Angeles hotel that was captured on surveillance video, and a fight between 'Jane' and Mr. Combs in 2024 before he directed her to have sex with another man. Jane, who was identified by a pseudonym, testified that she repeatedly said 'I don't want to' before Mr. Combs asked, 'Is this coercion?' The next day, the defense lawyer Marc Agnifilo argued that Ms. Ventura, the singer known as Cassie, was a willing participant in the frequent sex sessions that Mr. Combs called 'freak-offs.' Want all of The Times? Subscribe.
New York Times
7 hours ago
- Entertainment
- New York Times
Hundreds of Couples Celebrate Love at Lincoln Center's ‘The Wedding'
Some of the 500 people who lined up outside Lincoln Center in Manhattan on June 21 wore distinctive get-ups like a light-up bridal veil or a tuxedo appliquéd with tropical birds. Many, though, came in T-shirts and baseball caps. They were all there for a mass celebration known as 'The Wedding: New York's Biggest Day,' which is part of the venue's 'Summer for the City' programming. The event has been growing in scope and attendance since its inception in 2022. Now it is among the most anticipated offerings of the summer, according to Shanta Thake, Lincoln Center's chief artistic officer, who was on hand at the recent installment to welcome couples. 'Biggest Day,' conceived as a response to weddings derailed by the coronavirus pandemic, includes welcome festivities like a photo booth run by a professional photographer, a temporary-tattoo artist inking bare forearms with press-on hearts and a tarot-card-reading station. An hourlong symbolic 'ceremony' in Alice Tully Hall with love-themed readings and performances follows, as does a 'reception' with passed desserts in the lobby and outdoor dancing on the plaza next door. No one legally marries, despite the presence of a rabbi, a reverend and other religious leaders this year. But for many, that's the point. Sri Sapram and Oliver Yao, for example, have been dating for two years but are not yet ready to commit for life. One reason is that, for now, their relationship is long-distance. Ms. Sapram, 22, is studying to be a physician assistant in Philadelphia. Mr. Yao, 24, left his job in finance recently and, at least for the summer, is 'funemployed,' he said. Want all of The Times? Subscribe.
New York Times
7 hours ago
- Entertainment
- New York Times
Priyanka Chopra Jonas Is OK Sitting With Idris Elba and John Cena
Priyanka Chopra Jonas gets a kick out of action — the stylistic long shots, the slow-motion explosions, the stunts. And if there are a couple of hilarious sparring partners in the mix, all the better. In her new film 'Heads of State,' which begins streaming on Prime Video on July 2, Chopra Jonas plays Noel Bisset, an MI6 operative on a mission to rescue the prime minister of Britain (Idris Elba) and the president of the United States (John Cena) from a global menace. After starring in shows like 'Citadel' and 'Quantico,' 'I trust myself when it comes to action, and I get to do some really fun things,' she said. 'I love learning from the stunt department. Their experience and expertise is very exciting to me.' But the most insane scene to shoot in 'Heads of State' involved Elba, Cena and a tight squeeze into a vehicle known as the Beast. 'It's just the three of us and a couple of bad guys, and it's raining bullets and bombs at us, and we're driving through the streets,' she said. 'It was the smallest space for the two biggest guys I've ever worked with. We used to chat about everything because you couldn't leave the vehicle in between shots often.' In a call from her home in Manhattan, Chopra Jonas sent Malti Marie, her 3-year-old daughter with her husband, the singer and actor Nick Jonas, out on a play date before revealing why self-care days, Magna-Tiles and signature scents top her list of essentials. Want all of The Times? Subscribe.
