NYC Radio: 77WABC Owner John Cats Threatens Relocation

John Catsimatidis, the $4.8 billion owner of Gristedes and D'Agostino's supermarkets and owners of Talk Radio 77WABC, has threatened to slash his New York City workforce and relocate operations to Florida after socialist Democrat Zohran Mamdani's landslide mayoral victory.

The threat escalates Catsimatidis' June warning that Mamdani's plan for five city-run, tax-exempt grocery stores would force him to close or sell all 30 Manhattan locations. 

John Catsimatidis

In a Forbes interview, he said business leaders are "reducing their exposure to New York City" and confirmed Florida—where he owns property and pays zero state income tax—as the new target over earlier New Jersey plans.

Mamdani fired back at his victory party: "The billionaires said they’d leave if we won. Let them. We’ll use their empty penthouses for affordable housing." 

The mayor-elect's platform includes the grocery stores, rent freezes, and a 2% millionaire surcharge.

Catsimatidis, a Trump ally and GOP donor whose Red Apple Group generates $7.8 billion annually, previously shifted operations during COVID-era tax disputes. Analysts view the latest threat as leverage, noting the high cost and brand damage of shuttering the 137-year-old Gristedes chain. Still, Florida developers report a surge in inquiries from New York executives the day after the election.Other billionaires echoed unease: hedge-fund manager Bill Ackman congratulated Mamdani but offered policy advice, while Ken Griffin hoped he "governs differently than he campaigned." 

Barstool Sports' Dave Portnoy has also renewed vows to move headquarters to Montauk or Florida.