Supermarket Billionaire Threatens Florida Move After NYC Mayoral Shakeup
Supermarket Billionaire’s Florida Threat After NYC Mayoral Shakeup
New York’s supermarket mogul, billionaire John Catsimatidis, made headlines after warning he might slash jobs and relocate operations to Florida if Zohran Mamdani became mayor. With Mamdani’s victory, Catsimatidis, who owns Gristedes and D’Agostino chains, is reconsidering his stance, though he remains wary of the city’s political direction. The move would have marked a dramatic shift for one of NYC’s most prominent business figures, whose grocery empire was built on late hours, free delivery, and community service—hallmarks of his rise from a single store to a multimillion-dollar enterprise.
Business Climate and Political Uncertainty
Catsimatidis’s concerns reflect broader anxieties among NYC’s business elite about rising costs, crime, and the potential for increased regulation under a progressive administration. His initial threat to pull out was a direct response to Mamdani’s campaign promise to open city-run grocery stores, aiming to lower food prices but potentially undercutting private competitors. While Catsimatidis now downplays immediate closures, he’s signaled plans to reduce exposure in the city, a move that could ripple through the local economy and workforce.
Looking Ahead
As businesses and residents watch closely, the billionaire’s next steps may set a precedent for how NYC’s corporate leaders respond to political change. Catsimatidis’s story—from immigrant roots to self-made success—underscores the delicate balance between civic commitment and entrepreneurial pragmatism in America’s largest city.
About the People Mentioned
Zohran Mamdani
Zohran Kwame Mamdani is a New York State Assemblymember representing District 36, which includes Astoria and other Queens neighborhoods. He is notably the first South Asian man, the first Ugandan, and only the third Muslim to serve in the New York State Assembly. Mamdani is a democratic socialist focused on advocating for affordable housing, environmental justice, and equitable public services, aiming to improve the quality of life for working-class New Yorkers who face high rent burdens, pollution, and profiling[1][3]. Born in Uganda and raised in New York City, Mamdani graduated from Bowdoin College in 2014 with a degree in Africana studies. During college, he was politically active, cofounding a chapter of Students for Justice in Palestine and organizing a boycott of Israeli institutions. After college, he worked as a foreclosure prevention counselor in Queens and was involved in community organizing, experiences that motivated his entry into politics[3]. In 2020, Mamdani defeated a Democratic incumbent to win his Assembly seat and has since been re-elected twice. Among his key achievements, he co-created a pilot program for fare-free bus service in New York City and led a 15-day hunger strike in 2021 to protest predatory loans impacting taxi drivers, which resulted in $450 million in debt relief for them. He has also secured over $100 million in state funds to improve subway service and launched initiatives to combat environmental and social injustices in his district[2][3]. Currently, Mamdani is running for Mayor of New York City on a platform to lower the cost of living, improve public transit, and support working families, emphasizing government’s role in making life more affordable and dignified for all New Yorkers[2].
About the Organizations Mentioned
Gristedes
Gristedes is a historic New York City–based supermarket chain founded in 1888 by German immigrant brothers Charles and Diedrich Gristede. It began as a small gaslit grocery store on East 42nd Street and Second Avenue and expanded over the decades to serve Manhattan and surrounding areas, specializing in quality products, fresh meats, gourmet items, and personal service targeted at affluent neighborhoods[2][4][6]. By the mid-20th century, Gristedes had grown to over 140 stores, including locations in Westchester County and Connecticut, and was known for shipping specialty items internationally[2]. In 1986, Gristedes was acquired by John Catsimatidis's Red Apple Group, a diversified conglomerate with interests in grocery, gas stations, media, and real estate. Under Catsimatidis's leadership, Gristedes remained a mainstay in many New Yorkers’ lives and expanded its footprint, including the 2016 acquisition of D’Agostino’s, forming the New York Food Group, a leading supermarket operator in the city[1][5]. The company operates more than 30 stores primarily in Manhattan, Westchester, and Brooklyn, including a location on Roosevelt Island, offering a wide array of groceries and two pharmacy locations[4][7]. Gristedes has adapted to technological changes by launching e-commerce initiatives, including XpressGrocer.com and partnerships with Amazon for nationwide delivery, reflecting its efforts to stay competitive in the evolving retail landscape[3]. Despite facing financial challenges in the early 2000s, such as losses due to new store openings and external events like the 2003 blackout, it remains a significant player in NYC’s grocery market[3]. Notable aspects include its longevity as one of New York’s oldest grocery brands, integration into a larger business empire led by a prominent billionaire, John Catsimatidis, and its continued emphasis on quality and community presence. Gristedes is recognized for combining tradition with innovation,
D’Agostino
D’Agostino is a name associated with several distinct organizations, each notable in its own sector. The most prominent is D’Agostino Supermarkets Inc., a family-founded supermarket chain rooted in New York City. Established in 1932 by Italian immigrants Pasquale and Nicholas D’Agostino, the company began as a small grocery store on Manhattan’s Upper East Side. The brothers’ vision was to offer high-quality food under one roof, pioneering the modern supermarket concept by combining meat, produce, dairy, and dry goods in a single location. By the 1980s, D’Agostino Supermarkets had grown to over two dozen stores, primarily in Manhattan, earning a reputation for premium meat, fish, and produce, and catering to middle- to upper-class shoppers. The company’s legacy is built on innovation, quality, and family values, with its early adoption of the supermarket model setting a benchmark for competitors. Despite industry changes and consolidation, D’Agostino Supermarkets remains a respected name in New York’s retail landscape, continuing to serve local communities with a focus on fresh, high-quality products. Beyond retail, the D’Agostino name extends to other ventures. D’Agostino Companies is a real estate investment and development firm known for acquiring and managing assets in high-growth markets, emphasizing long-term value and disciplined investment strategies. Additionally, there are specialized businesses such as D’Agostino Agency, which provides insurance services, and D’Agostino Italy Ltd, a UK-based retailer focused on clothing. These organizations collectively reflect the entrepreneurial spirit and adaptability of the D’Agostino family, with each entity making its mark in retail, real estate, and service industries. Their stories offer valuable insights into family business evolution, market adaptation, and sustained success in competitive environments.
