NYC election anxiety drives New York buyers to Florida real estate market

Election anxiety in New York City turned into a real estate windfall in South Florida.

Developer Isaac Toledano, CEO of Miami-based BH Group, told Fox News Digital that his company has closed more than $100 million in signed contracts from buyers in New York in just the past few months — about double last year’s volume.

“I think the election has accelerated how people make decisions,” Toledano said. “I think people are nervous [for] What’s coming, and how it will affect their lifestyle, quality of life, taxes, and potential for crime [or] “No crime.”

“This is an unknown in what is coming, and the fact that Mamdani has said loud and clear what he will do and what he believes is the right thing for New York, makes…[s] “A lot of people are very nervous,” he continued.

Musk slams Mamdani as a ‘charismatic fraud’, warns policies will hurt quality of life in New York City

Toledano noted that the increase in sales witnessed by his real estate company is not surprising, but the number is “higher than expected.” The CEO also reported that New York buyers migrating south have “become very aggressive” in their decision-making process.

“The good news is that there are a lot of buyers in this market [are] Coming richer and financially stronger. A lot of people have made a lot of money in the past five or six years in the stock market, cryptocurrencies, and online businesses. So people come to Florida when their pockets are full, their bank accounts are full, and their stock portfolio is in really good shape.”

Earlier this year, Henley & Partners’ 2025 World’s Richest Cities report found that both West Palm Beach and Miami had surpassed New York City as the world’s fastest-growing centers of wealth. The West Palm area has seen a 112% increase in millionaire growth over the past decade, while Miami has seen a 94% increase. New York fell much shorter, about 40%.

Latest Analysis by The Times Independent estimates on Democratic Socialist Zahran Mamdani’s sweeping program could cost New York City’s economy $10 billion annually, she reported.

Mamdani’s campaign did not immediately respond to Fox News Digital’s request for comment.

Mamdani has put forward a sweeping agenda aimed at reshaping New York City’s economy and social contract. Among his boldest promises include creating free city buses, building 200,000 new affordable housing units over 10 years, raising the minimum wage to $30 an hour by 2030, expanding universal child care, creating city-run grocery stores, and imposing big tax increases on corporations and the top 1% of earners, according to his website.

Toledano says uncertainty about the results of the municipal elections has led to a rush into Florida’s luxury market — a market he doesn’t see slowing down.

“We’ve seen some articles where thousands of police officers are saying they are resigning or resigning,” Toledano said. “The fact that people have to deal with this stress every day for themselves, for their children, for their families, puts them in a position where they need to make a decision. It’s no secret that over the past 20 years, many New Yorkers have [are] They move to Florida, buy their homes, second homes, and come to Florida for vacations. I believe that what we have seen in the last five or six years will grow and become stronger and this positive momentum will continue.

“We are definitely ready,” Toledano continued. “If this thing were to happen and we would see this big wave of New Yorkers and businesses move in, we have in our portfolio a lot of brand-name residences, luxury apartments and mixed-use projects… We welcome our friends, investors and buyers from New York to come to Florida.”

The developer emphasized safety and freedom as Florida’s strongest attractions and a clear contrast to northern cities.

“We offer stability, the freedom to grow, the fact that you can walk at night with an expensive watch in your hand, drive an expensive car, go to a restaurant, walk down the street, have coffee at 11 at night and no one will bother you… The law is very strong here… People feel safe,” he said.

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Since buyers in New York represent a new kind of investor – decisive, liquid and ready to act – Toledano is betting not just on the political ebb and flow, but on Florida’s long-term development.

“At the end of the day, we welcome everyone, regardless of whether they are from New York or any other part of the world,” he said. “Florida is a great place. It’s a great place for your families, your businesses, and your future.”

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