A month after Zohran Mamdani’s stunning victory in New York City’s mayoral election, the mass exodus of wealthy residents that landlords and real estate agents—especially down in Florida—had predicted has so far failed to materialize.
Instead, sales of luxury homes in the Big Apple—priced above $4 million—were up by 31 percent in November compared with October to 151 properties, according to the latest data by real estate brokerage firm Olshan Realty.
Another firm, brokerage Douglas Elliman, reported a similar increase, saying that a total of 176 contracts for properties priced at $4 million or more were signed in November, up 25 percent from a month earlier…