‘The Mamdani effect’: wealthy New Yorkers show renewed interest in Miami’s Billionaire’s Beach
PositiveU.S News

- Wealthy New Yorkers are increasingly interested in Miami's Billionaire's Beach, leading to a surge in sales at luxury properties like the Ritz-Carlton, Four Seasons, and Cipriani. This trend, referred to as the 'Mamdani effect,' is attributed to the appeal of Miami's warm climate compared to the cold winters of Manhattan.
- The renewed interest from affluent buyers signifies a potential shift in the luxury real estate market, as developers and realtors anticipate a continued influx of high-net-worth individuals relocating from New York City to Miami.
- This trend reflects broader economic dynamics, including efforts to attract businesses and residents to Miami Beach, particularly in light of the recent New York City mayoral election, which has been leveraged to promote relocation opportunities in Florida.
— via World Pulse Now AI Editorial System


