NYC Exodus: Is Socialist Mayor Driving Billionaires to Miami's Luxury Shores?
Wealthy New Yorkers are increasingly relocating to Miami's prime waterfront real estate, fueled by the 'Mamdani effect'—a predicted exodus following democratic socialist Zohran Mamdani's election—alongside attractive tax conditions and an opulent lifestyle. This trend is leading to an 'exponential' rise in inquiries and sales for high-end developments across the city, from South Beach to Brickell and Coconut Grove.
