Following Andrew Cuomo's concession to Zohran Mamdani in the Democratic primary, real estate figures voiced concerns about a potential mass exodus of wealthy residents from New York to Florida. Some, like Ryan Serhant and Danny Fishman, expressed drastic views on the impacts of Mamdani's administration. However, seasoned brokers noted that client sentiments are more about discussion than urgent action, indicating that fears of a mass migration might be exaggerated, reflecting a cycle of panic among the business elite regarding political shifts.
My number-one job will be moving people from New York to Florida. Again, Ryan Serhant told the New York Post.
A Mamdani administration is called 'the death penalty for the city' by Danny Fishman, CEO of Gaia Real Estate.
The business community freaks out about everything, a power broker said, commenting on the reaction to political changes.
None of my clients right at this moment are saying 'Sell it, I'm out of here,' says Douglas Elliman broker Steve Cohen.
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