At about 9 p.m., Buonomo conceded defeat. He thanked his supporters and the city as a whole.
"In the last seven months I have met some very beautiful people, some very caring people," he said.
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"I have always believed that you must be ready to both win and to lose," he added.
But his supporters aren't giving up yet.
There was immediate speculation that Buonomo would run against Gay again this fall in the regular mayoral elections.
George S. Huges was one hopeful supporter.
"I get this gut feeling that he'll run again in September," he said.
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