Margit Brandt says up to 30% of Wall Street is interested in moving to South Florida
- Jake Nicholas
- 2 days ago
- 2 min read
Palm Beach continues to draw attention as New York faces growing political and economic uncertainty.
In a recent Bloomberg interview, Premier Estate Properties’ Margit Brandt, a leading voice in luxury real estate, described what she calls the “Fourth Migration” of New Yorkers heading to Palm Beach Island. “I’m a New Yorker. I grew up here, and I think what’s happening now feels very different,” Brandt explained. The momentum, she noted, is being driven by more than just taxes. The potential election of Mayoral candidate Mamdani has created a new wave of buyers for South Florida, according to Brandt. From Wall Street executives to families seeking stability, the migration has become a defining trend.
Prices on Palm Beach Island have not only remained strong, but continued appreciating, with decades of historical progression showing a steady incline. For those considering a move, Brandt emphasized, “Now is the time.” She pointed to billions of dollars being invested locally by Stephen Ross, the Related Ross founder whom she dubbed the previous “King of New York.” His vision for West Palm Beach includes schools, offices, condominiums, entertainment, and cultural infrastructure—laying the foundation for a city that Brandt says is transforming into “what Tribeca felt like ten years ago.”
For those worried about leaving behind the comforts of Manhattan, Brandt was quick to add reassurance: “All of your favorite New York staples have already opened shop in the Palm Beach area.” From restaurants like Milos, Le Bilbloquet, La Goulou, to venues like Eataly, boutiques and exercise brands like Equinox, the connections between the two markets grow stronger by the year.
Looking ahead, Brandt forecasted that up to 30% of Wall Street is at least open-minded to moving to South Florida—particularly if political shifts in New York accelerate under leadership such as that of Assemblyman Zohran Mamdani. “Palm Beach is no longer just a second home escape,” she noted. “It’s becoming a permanent base for some of the most influential players in finance and culture.”
As the Fourth Migration potentially gains momentum, Brandt’s message is clear: Palm Beach is not just keeping pace with New York—it’s rising as its counterpart in the South, offering stability, opportunity, and an unmatched lifestyle. And whether you are viewing South Florida as just a hedge against New York so that you have both options or a life boat if you may fully relocate, she tells Bloomberg that many buyers are getting ahead of the NYC Mayoral Election and putting the wheels in motion for their South Florida moves as early as this past Summer and into this Fall.
