We break down CRE's fear & loathing stemming from Zohran Mamdani’s improbable win in the New York City mayoral primary. Players have pulled the plug on deals and are devising a "retreat & resist" strategy. We then dive into the mechanics of a particularly juicy offshore hotel transaction – Hyatt is selling Playa Properties in a $2 billion asset-light megadeal. And finally, we head back to New York: a coveted casino license is up for grabs, and developers are doing whatever they can to score it. Favors: 1) Write us a review: On Apple, Spotify, or wherever you get your pods 2) Tell Prof G about us: Go to ProfG's Reddit page and tell him he's gotta have us on to talk CRE: https://www.reddit.com/r/ScottGalloway/ 3) Tell your CRE junkie friends about us Further reading: 1) https://www.thepromote.com/p/cre-s-mamdani-triage-fbi-comes-at-syndicator#retreat-resist-cr-es-mamdani-triage 2) https://www.wsj.com/us-news/nyc-real-estate-mayor-eric-adams-zohran-mamdani-21cf617f 3) https://therealdeal.com/new-york/2025/06/27/eight-bidders-submit-new-york-casino-bids/ 4) https://therealdeal.com/magazine/new-york-march-2017/day-in-the-life-of-ryan-williams/
