"Senior real estate execs and others, including Donald Trump, have dented the idea that Mamdani will drive rich New Yorkers to the Sunshine state. But Florida realtors claim they are seeing an exponential recent rise in inquiries and sales. The marketing agent for the Ritz-Carlton Residences, an upcoming project of 30 beach house condos ranging from single-bedroom apartments below $10m to its stunning $125m penthouse, has logged a 166% spike in interest from prospective buyers in New York from this time last year."
"It is a pattern high-end realtors say is being reflected in other upscale developments across the city, from Miami Beach to the fashionable Brickell downtown financial district known as the Manhattan of the south, and the affluent, historic neighborhood of Coconut Grove with its yacht marinas and classy sidewalk eateries. Governor Ron DeSantis has jokingly proposed Mamdani for a realtor of the year award, and suggested the imposition of a sales entrance tax for fleeing hordes of high-net-worth New Yorkers."
Miami's Billionaire's Beach features renovated classic art deco hotels and new exclusive residential towers with multimillion-dollar apartments. Realtors and developers report a surge in interest from wealthy New Yorkers attributed to the so-called Mamdani effect after Zohran Mamdani's election, with Florida agents recording steep inquiry increases and rising sales. The Ritz-Carlton Residences marketing agent recorded a 166% year-on-year spike in New York interest for its 30 beach condos, priced from under $10m to a $125m penthouse. Similar demand appears across Miami Beach, Brickell and Coconut Grove, while political figures have joked about incentives and taxes tied to the migration.
Read at www.theguardian.com
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