How NYC’s Mayoral Race Impacts the Luxury Real Estate Market in South Florida
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The shock from New York City’s recent mayoral primary wasn’t just political—it was felt instantly in the Luxury Real Estate Market in South Florida. Within hours of Zohran Mamdani’s win, phones started ringing in South Florida brokerages. Some Manhattan buyers weren’t waiting to see what came next; they were already calling to ask about oceanfront estates, guard-gated islands, and private showings.
Mamdani, a 33-year-old democratic socialist, built his campaign on promises to add 200,000 affordable homes, freeze rents on stabilized units, impose a 2% millionaire’s tax, and double the minimum wage. Supporters hail these measures as long-overdue solutions to housing affordability. But to some investors and high-net-worth property owners, the proposals…
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