Despite early fundraising success, Paul Massey has withdrawn his bid to challenge Bill de Blasio in the 2017 election for mayor of New York.

Citing lack of funding after raising $100K less than de Blasio between March and May, the Massey Knakel co-founder and Cushman & Wakefield head of investment sales announced his departure from the Republican field Wednesday, but did not rule out future runs at the office, Commercial Observer reports.

“I feel like we’re a little dangerous now,” Massey told the CO. “If we ever did this again, our execution would be fantastic … I know I still would be enthralled with the job of mayor. Nothing’s dissuaded me from that.”

Although Massey retained his position at Cushman & Wakefield through the course of his campaign, he did not commit to returning to the company, saying only that he would have a "long talk" with Tri-State Region President John Santora about his future with the company.

Massey's departure from the Republican field leaves New York State Assemblywoman Nicole Malliotakis, who represents parts of Staten Island and Brooklyn, as a heavy favorite to secure the GOP nomination. The New York Times suggested Massey's claims for fundraising shortfall could partially be attributed to lavish spending on big-name consultants for his first campaign.