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How can one city’s election shake up the real estate market 1,300 miles away?
According to Miami developers, it’s all because of one man — New York City’s incoming mayor, Zohran Mamdani.
In the months leading up to the election, Isaac Toledano, CEO of Miami-based developer BH Group, says he’s seen a surge of interest — and money — pouring in from the north. His firm has closed more than $100 million in signed contracts from New York buyers over the past few months — about twice last year’s volume.
“I think the election accelerated how people make decisions, I think people are nervous [for] what’s coming, how it’s going to affect their lifestyle, the quality of life, taxes, potential of crime [or] no crime,” Toledano told Fox News Digital (1).
“This unknown in what’s coming and the fact that Mamdani said loud and clear what he’s going to do and what he believes is the right thing for New York, make[s] a lot of people very nervous.”
Mamdani, the 34-year-old democratic socialist, has defeated former Governor Andrew Cuomo, becoming the first Muslim and first South Asian to serve as New York City’s mayor.
Mamdani campaigned on sweeping progressive promises — including rent freeze, free childcare, government run grocery stores and free buses — all to be funded by “taxing corporations and the 1%” (2).
Toledano said he wasn’t surprised to see fleeing New Yorkers driving Florida’s latest real estate boom — but the scale of the $100 million windfall was still “higher than expected.”
A JL Partners survey for the Daily Mail found that 9% of New Yorkers say they would “definitely” leave the city if Mamdani won (3). With a population of 8.5 million, that would amount to roughly 765,000 potential departures.
One developer said he even contributed to Mamdani’s campaign — not out of support for his platform, but because he expected Mamdani’s policies to hurt the city, creating opportunities to buy later at a discount.
“Mamdani, I think, is probably going to end the city. Being an entrepreneur, I think that in five years we’ll go and pick up all the pieces at a very low price point,” said Kevin Maloney, founder and chief executive officer of Property Markets Group, The New York Times reported (4).
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On his campaign website, Mamdani declared: “New York is too expensive. Zohran will lower costs and make life easier” (5).
At the top of his platform sits the issue few would dispute — housing.
According to Redfin, the median sale price of a home in New York City reached $875,000 in September 2025, up 7.9% year over year and more than double the national average (6).
But the affordability crunch isn’t unique to the Big Apple. Realtor.com estimates that a typical U.S. household would need to earn about $118,530 annually to afford a median-priced home in the country — more than 50% above today’s median household income of roughly $77,700 (7).
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Federal Reserve Chair Jerome Powell has summed it up bluntly: “We have had, and are on track to continue to have, not enough housing” (8).
Zillow estimates the U.S. is short roughly 4.7 million homes, a gap that has helped keep prices elevated (9).
Given these imbalances, it’s no surprise that real estate remains one of the most enduring paths to building wealth.
It’s also a time-tested hedge against inflation. As inflation rises, home values tend to increase as well, reflecting higher costs for materials, labor and land. Rental income often follows suit, providing landlords with a revenue stream that adjusts with inflation.
And while buying a house is challenging in today’s environment, you no longer need to purchase a property outright to invest in real estate.
Crowdfunding platforms like Arrived have made it easier than ever for everyday investors to gain exposure to America’s real estate market.
Backed by world class investors like Jeff Bezos, Arrived allows you to invest in shares of rental homes with as little as $100, all without the hassle of mowing lawns, fixing leaky faucets or handling difficult tenants.
The process is simple: browse a curated selection of homes that have been vetted for their appreciation and income potential. Once you find a property you like, select the number of shares you’d like to purchase and then sit back as you start receiving any positive rental income distributions from your investment.
Another option is First National Realty Partners (FNRP), which allows accredited investors to diversify their portfolio through grocery-anchored commercial properties without taking on the responsibilities of being a landlord.
With a minimum investment of $50,000, investors can own a share of properties leased by national brands like Whole Foods, Kroger and Walmart, which provide essential goods to their communities. Thanks to Triple Net (NNN) leases, accredited investors are able to invest in these properties without worrying about tenant costs cutting into their potential returns.
Simply answer a few questions — including how much you would like to invest — to start browsing their full list of available properties.
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Fox News Digital (1); Zohran for New York City (2; 5); Daily Mail (3); The New York Times (4); Redfin (6); Realtor (7); The Federal Reserve (8); Zillow (9)
This article originally appeared on Moneywise.com under the title: Mamdani win spurs $100M Florida real estate rush as ‘nervous’ New Yorkers flee, developer says. Is the Big Apple over?
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.