BH Group CEO Isaac Toledano tells Fox News Digital how New York’s mayoral election “accelerated” New Yorkers’ decision to move to the Sunshine State.
Election anxiety in New York has turned into a real estate bonanza in South Florida.
Developer Isaac Toledano, CEO of Miami-based BH Group, told Fox News Digital that his company has closed more than $100 million in signed deals with New York buyers in recent months, about double last year’s volume.
“I think the election has accelerated the way people make decisions,” Toledano said. “I think people are nervous [for] what’s coming, how it will affect their lifestyle, quality of life, taxes, crime potential [or] no crime.”
“This unknown about what’s coming, and the fact that Mamdani has said loud and clear what he’s going to do and what he believes is the right thing for New York, means that[s] a lot of people were very nervous,” he continued.
MUSK calls MAMDANI a “charismatic conman” and warns that the policies would harm the quality of life in New York.
Toledano stressed that the increase in sales seen by his real estate company is not surprising, but that the figure is “higher than expected.” The CEO also reports that New York buyers migrating south are “becoming very aggressive” in their decision-making.
A Miami-based developer closed more than $100 million in real estate deals in the months leading up to New York’s mayoral election. (Getty Images)
“The good news is that many buyers in this market [are] become richer, financially stronger. Many people have made a lot of money over the last five or six years in the stock market, crypto and online businesses. So people come to Florida when their pockets and bank accounts are full, and their stock portfolio is doing really well. »
Earlier this year, Henley & Partners’ report on the world’s richest cities for 2025 found that West Palm Beach and Miami overtook New York City as the world’s fastest-growing wealth centers. West Palm has seen a 112% increase in millionaires over the past decade, while Miami has seen a 94% increase. New York fell much shorter, about 40%.
A newer one Times analysis reported that independent estimates around democratic socialist Zohran Mamdani’s overall agenda could cost New York City’s economy $10 billion a year.
Fox News contributor Paul Mauro, Federalist elections correspondent Brianna Lyman and Fat Camp Films CEO Zach Sage Fox discuss the issues in the New York City mayoral race on “The Bottom Line.”
Mamdani’s campaign did not immediately respond to Fox News Digital’s request for comment.
Mamdani laid out a sweeping agenda to reshape New York City’s economy and social contract. Among his boldest promises are free city buses, building 200,000 new affordable housing units over 10 years, raising the minimum wage to $30 an hour by 2030, expanding universal child care, creating city-run grocery stores and imposing significant tax increases on businesses and the top 1 percent of earners, according to his website.
According to Toledano, the uncertainty surrounding the municipal election results has created a rush into the luxury market in Florida – a rush he doesn’t expect to slow down.
“We saw a few articles where thousands of police officers were saying they were going to resign or resign,” Toledano said. “The fact that people have to deal with this stress on a daily basis for themselves, for their children, for their family, puts them in a position where they have to make a decision. It’s no secret that over the last 20 years, many New Yorkers [are] move to Florida, buy their house, their second home, come to Florida for vacation. And I think what we’ve seen over the last five or six years is going to grow and strengthen and that positive momentum is going to continue.”
New York City mayoral candidate Andrew Cuomo discusses his vision for New York, his tax plan and the overall state of his race against democratic socialist Zohran Mamdani on “Mornings with Maria.”
“We are definitely ready,” Toledano continued. “If this thing is to happen and we see this big wave of New Yorkers and businesses moving, in our portfolio we have a lot of branded residences, luxury condos, mixed-use projects… We invite our friends, investors and buyers from New York to come to Florida.”
The developer emphasized security and freedom as Florida’s main draw and a clear contrast to northern cities.
“We offer stability, freedom to grow,” he said, “the fact that you can walk at night with an expensive watch in your hand, drive an expensive car, go to a restaurant, walk down the street, have a coffee at 11 p.m. and no one will bother you… The law is very strict here… people feel safe.”
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Isaac Toledano, CEO and founder of BH Group, tells Fox News Digital how Donald Trump’s 2024 election victory will fuel positive activity in real estate.
While New York buyers represent a new type of investor – decisive, liquid and ready to act – Toledano is betting not just on political tides, but on the long-term course of Florida.
“At the end of the day, we welcome everyone, whether they’re from New York or any other part of the world,” he said. “Florida is a great place. It’s a great place for your families, for your businesses, for your future.”
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