Eric Adams Rakes in $1 Million in One Night at Fundraiser Against Zohran Mamdani

New York City Mayor Eric Adams raised over $1 million for his reelection effort at a fundraiser in Manhattan. The event was attended by several hundred people and featured executives from the real estate industry. Adams' campaign has received a boost from donors opposed to Democratic nominee Zohran Mamdani, who won the primary but is facing criticism from the city's establishment.

New York City Mayor Eric Adams raised over $1 million for his reelection effort in a single night at a fundraiser in Manhattan. The event, held at One Madison, a building owned by SL Green Realty Corp., was attended by several hundred people and saw over 800 donations, according to a person familiar with the matter [1]. The fundraiser was led by SL Green Chairman Marc Holliday, who had previously donated to a PAC backing former Governor Andrew Cuomo in the Democratic primary for mayor.

The fundraising success marks a stark turnaround for Adams, who in March reported raising a little more than $18,000 over a two-month period, the lowest among the multiple candidates then running for mayor. Adams dropped out of the Democratic primary in April amid a bribery scandal, low poll numbers, and criticism over his relationship with President Donald Trump. However, his campaign has received a boost from donors and business leaders opposed to Democratic nominee Zohran Mamdani, who won the primary but is facing criticism from the city's establishment.

The event was attended by other executives from the real estate industry, including Related Cos CEO Jeff Blau and Joseph Moinian, CEO of the Moinian Group. A representative from Adams’ campaign also confirmed that celebrity Dr. Phil attended the event [1]. The fundraiser is the latest effort to consolidate financial support for Adams in his independent re-election campaign.

Adams' campaign plans to register 1 million new voters and campaign for independent votes, citing the passionate opposition to Mamdani, who campaigned to freeze rents while raising taxes on the wealthy. Adams stated, "I have never, in all my years of politics, have witnessed the level of energy that people are mobilizing to stop the primary winner from becoming the mayor of the city" [1].

A new PAC called "New Yorkers for a Better Future Mayor 25" plans to raise $20 million to attack Mamdani ahead of the November election [1]. The PAC is backed by wealthy New Yorkers who fear Mamdani's socialist policies, such as rent freezes and increased taxes on the wealthy. The fundraiser for Adams is part of a broader effort by real estate moguls to counter Mamdani's policies, which they view as a threat to the city's economic stability.

The fundraiser comes as Mamdani, a 33-year-old socialist and Democratic nominee for mayor, continues to face criticism from the city's establishment. Mamdani's primary win shocked the political establishment, and his radical ideas, such as rent freezes and tax plans that single out specific neighborhoods, have sparked fierce debate over the feasibility of his agenda [2]. While some of Cuomo's backers have pivoted to supporting Adams in November due to the former governor's lackluster performance, Cuomo remains in the race on an independent ballot line.

Adams' campaign has been boosted by the support of wealthy donors and business leaders, while Mamdani has faced criticism from the city's establishment. The outcome of the November election will depend on the ability of both candidates to mobilize their respective bases and attract independent voters.

References:
[1] https://www.bloomberg.com/news/articles/2025-07-10/nyc-s-adams-gets-1-million-in-one-night-from-anti-mamdani-crowd
[2] https://www.foxbusiness.com/politics/real-estate-moguls-throw-money-behind-adams-mamdani-threatens-freeze-rents