Democrat John Liu easily defeated Republican challenger Joe Mendola in Tuesday's election for comptroller. Liu had 76 percent of the vote with 100 percent of precincts reporting.

“This is a great day for me and my family. It is also an exceptional day for the city of New York and Democrats all over the United States, because an immigrant like me has realized a dream,” said Liu after his victory.

Liu was born in Taiwan and immigrated to New York with his family when he was 5 years old.

He has served on the City Council since 2002, representing parts of the borough of Queens. He also was the first Asian-American on the council.

The comptroller is the most powerful position in the city besides the mayor, and its responsibilities include auditing city agencies and overseeing the municipal pension system.