Wealthy New Yorkers eye Florida real estate after Mamdani’s primary win

Real estate agents report an increase in the wealthy New York population heading south after Zahran Mamdani’s historical victory in the city’s preliminary elections in the city.

Mamdani, a member of the Queens Air Association, was in a campaign that pays progressive policies such as freezing the city’s rent and sponsoring children funded by taxpayers and public buses “fast and free”. It was obtained 565,639 votes. However, the wealthy in the city, including business owners, are concerned about the financial effects of some of these policies.

Daniel de la Veiga, president of Sotheby’s International realty, said the site traffic from the New York region increased by 50 % in the following week for the introductory elections.

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He said: “Our agents make calls from buyers who actively re -evaluate their options, and we saw a clear rise in the demand for our new developments.”

They see attention from high -value individuals and institutional investors in particular. Within that group, “they see a group of different buyers, including families, businessmen and wealth managers who are looking for permanent transfer and lifestyle.”

De La Vega said that all of them were driven by tax benefits, increased stability, safety and the high quality of life in general.

During 2018 and 2022, more than 125,000 New York population moved to Sunshine. He said that this brought nearly 14 billion dollars of average total income and “creating a significant increase in South Florida real estate,” adding that the wave of demand has reshaped the market. De La Vega added that Mamdani wins in the general elections, “he can feed a second wave of deportation.”

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De La Vega said that his agency is still waiting to find out how things play regarding the outcome of the general elections, but “they see early signs for their owners who are subjected to subscription.”

A person in the Soho neighborhood in Manhattan is running the home of many high -end stores, shops, technical exhibitions and millions of dollars on October 8, 2020 AD in New York City. (Spence Platt / Getty Images / Getty Images)

Douglas Iliman, the New York -based Douglaim, said that one of her clients, who owned and rented an apartment unit in Manhattan for more than a decade, recently decided to sell due to the high operating expenses, increased organizational uncertainty and the possibility of increasing taxes and controlling rent.

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A historical building stands in the Soho neighborhood in Manhattan, which is home to many high -end stores, shops, art galleries and millions of dollars on October 08, 2020 in New York City. (Spence Platt / Getty Images) / Getty Images)

However, Katzen has argued that, for many people, New York still provides an unparalleled opportunity, communication and cultural vitality.

Lake First Park in Orlando, Florida. (Jeffrey Greenberg/Eduction Images/Universal Images Group via Getty Images/Getty Images)

She said: “It is still one of the most dynamic, flexible and desirable real estate markets. Regardless of the way the elections are shaken, the city has always proven its ability to adapt and prosper.”