T
he looming New York City mayoral race has turned into a real‑estate boom for South Florida. Miami‑based BH Group CEO Isaac Toledano told Fox News Digital that the firm has closed more than $100 million in signed contracts from New York buyers in just the last few months—roughly twice the volume seen last year. “The election has accelerated how people make decisions,” Toledano said. “People are nervous about what’s coming, how it will affect their lifestyle, taxes, crime levels, and overall quality of life.” He added that the uncertainty surrounding the campaign, coupled with Mamdani’s clear platform, has heightened anxiety among residents.

    Toledano noted that the surge in sales is not surprising, but the magnitude is “higher than expected.” He described the buyers as “very aggressive” in their decision‑making. Many of them are financially robust, having profited from the stock market, crypto, and online businesses over the past five to six years. As a result, they arrive in Florida with substantial liquid assets and healthy portfolios.

    A 2025 World’s Wealthiest Cities Report by Henley & Partners found that West Palm Beach and Miami have surpassed New York City as the fastest‑growing wealth hubs worldwide. West Palm saw a 112 % increase in millionaire growth over the last decade, Miami a 94 % rise, while New York’s growth lagged at about 40 %. A recent Times analysis estimates that Mamdani’s platform could cost New York City’s economy up to $10 billion annually.

    Mamdani’s agenda includes free city buses, 200,000 new affordable housing units over ten years, raising the minimum wage to $30 an hour by 2030, expanding universal child care, establishing city‑run grocery stores, and imposing significant tax hikes on corporations and the top 1 % of earners. The uncertainty surrounding the election has spurred a rush to Florida’s luxury market—a trend Toledano expects to continue. He cited reports of police officers planning to quit or resign, adding that the daily stress for families drives the decision to relocate.

    For the past two decades, many New Yorkers have moved to Florida for second homes or vacations, and Toledano predicts that this trend will intensify. “We’re definitely ready,” he said. “If a large wave of New Yorkers and businesses moves to Florida, our portfolio—branded residences, luxury condos, mixed‑use projects—will welcome them.” He emphasized Florida’s safety and freedom as key draws, noting that residents can walk at night with expensive watches, drive luxury cars, dine out, and enjoy late‑night coffee without disturbance, thanks to strong local laws.

    Toledano concluded that Florida offers stability, growth opportunities, and a secure environment for families and businesses alike. “We welcome everyone, whether they’re from New York or elsewhere,” he said. “Florida is a great place for your future.”