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Luxury Miami Real Estate Sees 166% Rise in New Yorkers

12/4/2025

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Summary

Story summary

The luxury Miami real estate market has attracted a surge of interest from wealthy New Yorkers following the election of socialist mayor Zohran Mamdani.
Developers report a 166% rise in inquiries from New York buyers for properties priced from $10 million to over $125 million.
High-end developments such as the Ritz-Carlton Residences and the Perigon have driven the increased activity.

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Story summary

The luxury Miami real estate market has attracted a surge of interest from wealthy New Yorkers following the election of socialist mayor Zohran Mamdani.
Developers report a 166% rise in inquiries from New York buyers for properties priced from $10 million to over $125 million.
High-end developments such as the Ritz-Carlton Residences and the Perigon have driven the increased activity.