Mark Levine, the Manhattan borough president, has been elected as New York City's new comptroller, securing a decisive victory in Tuesday's election. In his role, Levine will act as an independent watchdog over the incoming mayor, Zohran Mamdani, overseeing city contracts, auditing agencies, and managing the city's pension funds, which are valued at over $300 billion.

Levine and Mamdani cross-endorsed each other during the campaign, but the comptroller's position is designed to serve as a counterbalance to the mayor. Tensions may arise over investments in Israeli government bonds, with Levine supporting reinvestment and Mamdani opposing it due to his stance on boycotting Israel.

Levine, a pro-housing Democrat, has pledged to invest pension funds in affordable housing and prioritize audits of the city's housing agency, citing persistent delays in housing approvals. He succeeds Brad Lander, who did not seek re-election after an unsuccessful mayoral run.