Invite ye felawes and frendes desirous in gold to enter the gates of Shrewd'm, for they will thanke ye later.
- Manlobbi
Halls of Shrewd'm / US Policy
No. of Recommendations: 10
‘There is no Mamdani effect’: Manhattan luxury home sales surge after mayoral election, undercutting predictions of doom and escape to Florida
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.
Olshan Realty similarly noted an uptick in Manhattan luxury buyers. In its most recent market report, the firm said the 17 contracts signed in the last week of November for Manhattan homes over $4 million bested its 10-year Thanksgiving week average. Compared with October’s luxury sales totaling 115, November’s sales increased more than 31% to 151 properties, according to the firm.https://fortune.com/2025/12/04/mamdani-effect-new-...
No. of Recommendations: 7
No. of Recommendations: 2
Fox News was wrong...again!? LOL
Hence their fitting moniker "Faux Noise".
No. of Recommendations: 3
You must be really, really stupid.
If MORE luxury apartments in Manhattan are being bought, it obviously more are being SOLD.
I guess if perhaps wealthy foreign buyers are looking for an "in" into the Manhattan real estate market, this is a really good time to do so.
Presumably they are playing the "long game" and believe they can outlast the coming Mamdani chaos.
No. of Recommendations: 3
I guess
Yup.
No. of Recommendations: 2
Fox News was wrong...again!? LOL
They seldom admit it and only in an obscure way if at all.
No. of Recommendations: 2
If MORE luxury apartments in Manhattan are being bought, it obviously more are being SOLD.
And most of us are holding stocks that others sold. So, what's your point?
Steve
No. of Recommendations: 2
Are you stupid?
MORE people are selling. MORE people are LEAVING before the luxury real property market crashes. Getting out while the getting's good.
The people doing the BUYING are people with money and time to burn.
They are long-term investors who can afford to wait out the Mamdani catastrophe and hopefully an eventual bounce-back when he's gone.
They are SPECULATORS and risk-takers.
Probably a lot of whales from China and Macau and Saudi Arabia.
