Zohran Mamdani’s primary win in New York City’s mayoral race and proposal to raise taxes on millionaires have touched off fears of a new wave of wealth flight from the city. So far, there is little evidence of a slowdown in high-end real estate or real wealth losses in New York. At the center of the economic concern is Mamdani’s so-called “millionaire tax.”
Zohran Mamdani’s primary win in New York City’s mayoral race and proposal to raise taxes on millionaires have touched off fears of a new wave of wealth flight from the city. Yet so far, there is little evidence of a slowdown in high-end real estate or real wealth losses in New York.
Florida real estate brokers say they’ve seen a surge in inquiries from the New York wealthy looking