Zohran Mamdani's Democratic primary win in June triggered something unusual. Billionaires including Bill Ackman, the Lauder family, and Michael Bloomberg have poured over $40 million into opposing his candidacy. But the smarter money is doing something else entirely.
They're securing Florida properties.
The math is straightforward. Mamdani's proposed tax increases would push New York's combined state and local marginal rate toward 17%. Someone earning $650,000 annually can save more than $69,700 in taxes by relocating to Florida, where the state income tax rate is zero.
That calculation is already driving decisions.
From 2018 to 2022, Palm Beach and Miami-Dade Counties gained more than 30,000 former New Yorkers who brought $9.2 billion in income with them. These aren't retirees. They're high-income professionals with average per capita earnings of $190,000 to $266,000.
The luxury market is responding accordingly. Palm Beach's average sale price hit $20 million in Q3, with price per square foot reaching $4,554. That's over 2.5 times Manhattan's cost per square foot.
Here's what most people miss: the best opportunities are in pre-construction.
I've spent a decade helping high-net-worth clients navigate South Florida's luxury market. My medical background taught me to diagnose problems before they become critical. In real estate, that means recognizing migration patterns before they peak.
Right now, I have access to premier units at the W Hotel and Residences in Pompano Beach, the Ritz-Carlton Residences in Palm Beach Gardens, the Rosewood Residences in Hillsboro Mile, the Bentley Residences in Sunny Isles, and the Waldorf Astoria Residences in Pompano Beach. Some of these opportunities aren't available presently to the general market yet.
The window is closing faster than most realize.
Political uncertainty creates real estate opportunity, but only for those positioned to act. Whether Mamdani wins or loses, the migration trend is already established. The question is whether you're securing your position now or competing with others later.
There's always a good deal somewhere. Right now, it's in South Florida pre-construction luxury properties that qualified,RWA (ready, willing, and able) investors can access before the next wave arrives.
