Overview
- Miami developer BH Group says it closed more than $100 million in recent contracts from New York buyers, attributing the surge to election-driven uncertainty in New York City.
- At The Real Deal Miami Forum, some investors predicted a potential rush of wealthy New Yorkers and businesses to South Florida, while others stressed that relocations are not simple decisions.
- Conference consensus pointed to insufficient evidence of a broader shift and advised watching migration statistics over the next year to gauge any trend.
- Mayor-elect Zohran Mamdani rejected talk of an exodus, saying business leaders are focused on affordability challenges that affect recruiting and retention.
- New signals included Boca Raton’s mayor reporting fresh inquiries from companies on Thursday and earlier Times Square ads courting relocations, alongside context from a wealth report showing strong millionaire growth in Miami and West Palm Beach and a Times analysis, cited by Fox Business, estimating parts of Mamdani’s platform could cost about $10 billion annually.