Wealthy New Yorkers aren’t waiting around to see how the city’s new political direction plays out.
In the 36 hours following Zohran Mamdani’s mayoral victory, private jet booking platform Virtual Hangar reported a 42% spike in flight requests from the New York metro area to Florida.
According to the company, 38% of those requests were bound for Palm Beach, a longtime haven for New York’s wealthy elite, while another 40% were for Boca Raton, Fort Lauderdale and Miami.
Virtual Hangar attributes the surge to “growing reports of a ‘wealth flight’ south as business owners, investors and executives brace for potential tax increases and stricter housing policies under Mamdani’s progressive platform.”
The company also cited the ongoing federal government shutdown and longer TSA lines as added motivators for affluent travelers seeking alternatives.
“High-net-worth travelers don’t wait in lines,” Paul M. Svensen, Virtual Hangar's chief technology officer, said in a statement.
The reported surge comes days after a poll showed nearly 1 million New Yorkers would look to flee the city if Mamdani won the mayoral race.
The pattern points to a broader trend among luxury travelers prioritizing flexibility, privacy and convenience in the face of political and economic uncertainty. Florida remains a natural magnet: no state income tax, abundant luxury real estate and a perceived business-friendly climate have made it a perennial draw for America’s wealthy households.
Billionaire real estate investor and Starwood founder Barry Sternlicht is among those finding greener pastures in Florida.
“Over $100 million, every project in New York has to go union, and it’s super expensive," Sternlicht told CNBC this week. "It leads to extremely expensive housing. And other developers have tried to cut deals with the unions, but they rule New York, and that’s one of the key reasons the blue states are so expensive and they’re so difficult to add supply of housing to."
For the luxury travel industry, the shift offers a glimpse at evolving client priorities.
Advisors may see increased demand for southbound jet charters and long-term stays in Florida, while operators could reposition aircraft to meet short-term spikes in interest. Whether the 42% increase is a brief reaction or an early sign of sustained migration remains to be seen.
Though, it should be noted that Teterboro Airport, the private jet-dominant airport most New Yorkers would be flying from, is on the list of 40 U.S. airports slated to see reduced flying this week amid an FAA-mandated directive to reduce air traffic amid the ongoing government shutdown.
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