MXM Exclusive

New York’s elite are already fleeing in anticipation of Democratic Socialist Zohran Mamdani’s potential mayoral victory, with luxury real estate brokers reporting a surge in panic-driven relocations. High-net-worth buyers are freezing deals, abandoning contracts, and scouting properties in tax-friendly havens like Florida, Europe, and beyond.

Top NYC broker Ryan Serhant told NY Next his “number one job” will soon be relocating clients from New York to Florida—echoing the COVID-era exodus. One Chelsea buyer backed out of a deal minutes after Mamdani’s primary win, citing uncertainty. Florida realtor Nathan Zeder described the reaction as “shocking,” comparing it to 2020’s mass departures.

Wealthy New Yorkers, already burdened by high taxes, are now eyeing exits as far as Uruguay and Milan. Serhant predicts a pro-business counter-mobilization behind Mayor Eric Adams, but for many, the damage is done. As one Manhattan founder bluntly asked: “Where can we go?”

For New York’s tax base, the answer seems clear: anywhere but here.

MXM Exclusive