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Zohran Mamdani's Democratic primary win for New York City mayor has sparked concern among affluent residents and real estate professionals. High-end buyers are pausing purchases, and some wealthy New Yorkers are considering leaving due to Mamdani's proposed policies, including a 2% tax on incomes over $1 million and a rent freeze. Anecdotal evidence suggests an exodus, with some already contacting real estate agents in Florida, anticipating a repeat of the pandemic-era migration. While data shows a slight dip in pending sales, the long-term impact remains uncertain. Florida real estate agents are preparing for a potential influx of new residents.

Prepared by Christopher Adams and reviewed by editorial team.