We’ve seen the memes, the “Scarface” video and the tweets.
Zohran Mamdani’s win of the Democratic primary mayoral race in New York last week prompted developers, brokers and politicians in Florida to… gloat.
(For those interested, a scene from “Scarface” showing an electronic dollar bill counter set to the movie’s theme music under the caption, “South Florida real estate agents, as the New York primary results come in” was being sent around — I got it twice.)
On X, Gov. Ron DeSantis wrote “Just when you thought Palm Beach real estate couldn’t go any higher…”
Philip Levine, former Miami Beach mayor, real estate investor and a Democrat, reposted DeSantis’ post, joking that “Florida should pay for Mamdani’s campaign!!!”
Alex Witkoff, CEO of Witkoff Group, wrote on X that it was time for everyone to move to Miami, tacking on emojis of a sun and a palm tree.
We spoke with brokers and developers about the effect Mamdani’s win could have on South Florida real estate. As expected, they anticipate a windfall of mostly wealthy New Yorkers to relocate.
Top luxury residential broker Dina Goldentayer said she’s already seen an uptick in New Yorkers keeping a close eye on her Instagram. Mamdani’s primary win only moved “the needle further in Miami’s favor,” she said. Goldentayer paid for a billboard in Times Square during the pandemic urging people to move to Miami. She’s brainstorming her next concept.
Ruthie Assouline, who works in both markets, said the relocations won’t be so abrupt. New Yorkers, she said, are “entrenched in their schools, their businesses” and will analyze what a Mayor Mamdani would mean for them before pulling the trigger.
Nathan Zeder, part of the top Jills Zeder Group at Coldwell Banker, also expects a wave of business. Zeder is in the majority of agents who will likely direct more marketing dollars to New York.
“No one packed up their bags [on Monday night], but multiple people are saying ‘get ready,’” he said. “He ran a great campaign and for New Yorkers who are our clientele, there seems to be a little more nervousness because of his policies.”
What we’re thinking about: A mysterious Microsoft billionaire is spending more than $350 million to acquire luxury real estate in Palm Beach. Is it Charles Simonyi, the early Microsoft employee credited with creating Word and Excel, or former Microsoft CEO Steve Ballmer? Or someone else? Send me a note at [email protected].
CLOSING TIME
Residential: SMM Sunny Holding LLC, managed by Mikhail and Mariana Peleg, sold the 1.8-acre waterfront lot at 9 Indian Creek Island Road to a land trust managed by Bilzin Sumberg attorney Joe Hernandez for $105 million. The property is next to billionaire Jeff Bezos’ assemblage in the exclusive Indian Creek Village.
Commercial: Swire Properties sold the retail and parking components of Brickell City Centre to Simon Property Group for $512 million. Simon bought Swire’s majority 75 percent stake in the 500,000-square-foot open-air center anchored by Saks Fifth Avenue, according to a Hong Kong stock exchange filing.
NEW TO THE MARKET
Oil recycling mogul Steven Lempera listed his waterfront Gables Estates mansion for $54.9 million. The nearly 19,000-square-foot estate at 41 Arvida Parkway in Coral Gables is on the market with Eddy Martinez and Roland Ortiz of One Sotheby’s International Realty. The eight-bedroom, nine-and-a-half-bathroom home sits on a 1.5-acre peninsula with 574 feet of water frontage, a 140-foot dock, pool and five-car garage.
A thing we’ve learned
It’s the end for the Blue Screen of Death. Microsoft plans to replace the Windows crash screen with a more minimalist design that will state: “Your device ran into a problem and needs to restart.” Not nearly as panic-inducing.
Elsewhere in Florida
- Miami billionaire Mike Fernandez suspended a $1 million donation to Florida International University due to the state eliminating in-state tuition benefits from undocumented students, the Miami Herald reports. Fernandez’s pledge would fund first-generation student scholarships through the school’s Maurice A. Ferré Institute for Civic Leadership.
- ICYMI, Florida is using emergency powers to turn a 30-square-mile site in the Everglades into what’s being dubbed the “Alligator Alcatraz” immigration detention center. Two environmental groups sued federal, state and Miami-Dade County officials on Friday, arguing the state is more than 96 percent wetlands and should be protected, according to the Herald. The detention center is expected to house at least 1,000 people who have been arrested during President Trump’s immigration raids.
- Police officers dragged a woman out of Miami-Dade County Commission chambers on Thursday after Commission Chair Anthony Rodriguez said he would ban public comments regarding an agreement between U.S. Immigration and Customs Enforcement and county jails. You can watch the video here.
