Himmel, chief executive officer of the company’s mixed-use division, Related Urban, said the pandemic has inspired well-heeled executives who can work from anywhere to seek out the area’s year-round “resort lifestyle.”
Lloyd Abramowitz’s high-net-worth clients at Cerity Partners are asking more often about the financial wisdom of moving to Florida. They’re concerned about New York City’s rising crime rate, and a higher federal tax burden should a Democrat win the presidency, said Abramowitz, a New York-based partner at the firm.
“And then, add on this: Is it really worth it?” he said. “Do you really have to be in New York anymore to do the work you need to do?”
Residents of posh New York suburbs may have added incentive to relocate: Their large homes that lingered on the market for years are now finding eager buyers, said Laura Beck, chairman of the private clients group at law firm Cummings & Lockwood LLC in Greenwich, Connecticut.
“If there are people knocking on my door offering me money for my house,” Beck said, “maybe now is the time.”
This article was provided by Bloomberg News.