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Miami Luxury Market Sees Reported New York Buyer Spike After Mamdani’s Mayoral Win

Industry sources attribute the uptick to a so‑called “Mamdani Effect,” describing selective, high‑net‑worth moves rather than a broad migration.

Overview

  • Brokers at the Ritz‑Carlton Residences on Miami Beach report a 166% increase in interest from prospective New York buyers, as cited by The Guardian and reiterated in new coverage.
  • At Four Seasons Private Residences in Coconut Grove, brokers say 15% of recent buyers are from the New York area and regional interest rose about 10% after the election.
  • Mast Capital reports “staggering” activity from ultra‑high‑net‑worth clients at the Perigon and says inquiries and sales from New Yorkers at Cipriani Residences have risen “exponentially.”
  • Developers say at least two previously hesitant New York buyers moved forward with purchases tied to the primary and election week, crediting the vote as the catalyst.
  • Executives caution the trend reflects targeted second‑home and wealth‑planning decisions and emphasize it is not evidence of a mass exodus, with figures based on broker and developer statements.