Real estate agent Ryan Serhant said some venture capitalists, startup founders, and bankers are holding off on making any kind of investment in properties in New York.
In the hours following Zohran Mamdani's win in the Democratic primary for New York City mayor, wealthy buyers started exploring property options outside the city.
Luxury real estate agents said they noticed a sudden surge in inquiries from high-end buyers looking to pause the deals in New York and are turning to more tax-friendly and stable markets such as Uruguay, Milan, and Florida, The New York Post reported.
Real estate agent Ryan Serhant said some venture capitalists, startup founders, and bankers are holding off on making any kind of investment in properties in New York City.
He added that a woman who made an offer to buy an apartment in Chelsea quickly emailed her agent, saying, "We're going to stop looking for now until we know more about what's going to happen in the mayoral race."
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