By BBC News Online's Megan Lane in New York

Media tycoon Michael Bloomberg came from behind to win the New York mayoral race. What do the battered city's people make of his shock victory?

New Yorkers woke up to a new mayor elect on Wednesday, the Republican billionaire Mike Bloomberg.

Mark Green edged out by the Giuliani factor

It was a close race between the media magnate and his Democratic rival, Mark Green. Polls before election day put the two in a statistical dead heat, with up to a fifth of voters undecided.

After being neck and neck for much of the vote count, the declaration came so late that early editions of Wednesday's papers missed the news.

In a city dominated by Democrats five to one, it was quite an upset. Yet exit polls indicate that 27% of voters only chose Mr Bloomberg once he secured had Rudy Giuliani's last-minute endorsement.

What say New Yorkers of their new leader?

The office worker: "It's fantastic," says one suit as he speeds past on his way to work.

Another says he's both surprised and delighted to see Mr Bloomberg win. "I'm pretty sad to see Giuliani go - I think he's done a great job - and I would have voted for him if I could." (After eight years in City Hall, Mr Giuliani is barred by law from seeking a third consecutive term in office.)

Yet another says she's surprised, as Mr Green had been ahead in the polls for much of the campaign. "But I was undecided so I'm quite pleased I'm not registered to vote here."

Duane Jackson: "We need a father-figure now."

The casualty of the economic downturn: "I have mixed feelings about his win. I'm getting laid off so I might not be in New York next month - I didn't feel strongly enough about either candidates to vote," says one woman.

The street vendor: "I didn't think Mark Green had enough experience - we need more of a father-figure now," says Duane Jackson, a Vietnam veteran who sells fire department caps in Times Square. "Although Bloomberg has no political experience, his age [he is 59, to Green's 56 years] and his experience is more of a fit right now."

He has mixed feelings about seeing Mr Giuliani go. "Since 11 September, if he'd had two more years in office people would have felt more secure. But democracy will survive and the city will do OK."

The broadsheet: The New York Times, which came out in support of Mr Green, says its first wish is that Mr Bloomberg's tenure in office will be better than the campaign, which spiralled into mud-slinging at the weekend.

It will be a tough job, clouded by the terror attacks and overshadowed by the newly-beloved Mr Giuliani, the paper says.

Bloomberg will have his plate full

"The next mayor will never be able to match the strong paternal image that Mr Giuliani presented, and he should not try. He will have to rise to this moment differently, using his own voice in his own way to rally the city, manage it and keep it safe and financially sound."

The tabloid: Two words dominate the front page of the New York Post: Mayor Mike.

The paper puts Mr Bloomberg's win largely down to his predecessor's endorsement, to simmering Democrat discontent, and to the record $50m he spent to get his message out.

After wishing Mr Bloomberg luck - "You're going to need it" - an editorial goes on to say that having ridden to City Hall on Rudy's coattails, Mr Bloomberg has an obligation to govern in the Giuliani spirit: to be tough on crime, to buck special interests and do what's right for the city.

Can he do it? "We're not optimistic. But we're eager to be proved wrong," the paper concludes.