cross-posted from: https://lemmy.world/post/39737768
In the aftermath of much well-heeled panic about a potential mass exodus of New York millionaires and billionaires following the election of Zohran Mamdani, the contrary is already happening, and Manhattan luxury apartment buyers are voting with their wallets.
Signed contracts for Manhattan homes costing $4 million or more rose to 176 in November, a 25% increase from October’s 141 deals, according to fresh data from brokerage Douglas Elliman and appraiser Miller Samuel. New signed contracts of more than $4 million increased at more than twice the rate of the overall market, the report noted.
„Fears“ of the overly rich packing up and leaving New York over the silliest things go back to at least the 90s and will never stop. You will keep reading „THIS is what will break the camel‘s back“ and then they‘ll buy up even more space.