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A billionaire property developer has predicted that more New Yorkers will flee to due to high taxes and surging rates in the Big Apple. 

Stephen Ross, 82, whose net worth is around $12billion, has said that people in the Northeast are looking for eVden EVe NakLiyaT warmer climates a lot earlier than retirement. 

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In the past two years, major evdEN EVE NaKLiyaT tech, finance, and law firms have ditched big cities like New York and Chicago for the comfort of the tax-free state. 

Citadel, a hedge-fund company, recently left Chicago for Miami.Apollo Global Management and Blackstone Inc., both originally based out of New York, have also relocated to Florida, according to Bloomberg. 

One of Related’s Florida properties, dubbed The Square – a mixed-use development – has attracted the likes of Goldman Sachs and Point72 Asset Management, owned by Steve Cohen. 

Related acquired Rosemary Square in 2019 and a five-year $550million investment plan to turn CityPlace – in downtown West Palm Beach – from a ‘retail and entertainment center to a vibrant community and destination.’ 

The property development company – which is also the mastermind behind New York’s $25billion Hudson Yards project – owns another West Palm Beach property, One Flagler, which is set to open in 2024.The company acquired the property for $20million in 2021. 

It also has a Miami property – One Brickell City Centre – coming in 2027. If you beloved this article and you would like to get additional info relating to eVDeN Eve NakLiYAt kindly take a look at the internet site. It . 

Meanwhile, popular destinations in Florida are thriving, with office vacancy rates remaining under the national average of 12.2 percent, according to the (NAR). 

West Palm Beach has a vacancy rate of nearly nine percent for corporate buildings and Miami has a rate of 10 percent, according to NAR. 

Despite all that, Ross said: ‘New York will continue to grow.

‘But it has its challenges, and a lot of people who don’t have to be there are looking not to be there,’ he continued. ‘It’s changing, it’s getting younger, the older people are moving out, the wealthier people are moving out.’ 

However, he said the younger crowd would still be attracted to the bright lights of New York City and that his development team would continue to have ‘huge investments’ in the Big Apple. 

‘But I think Florida is going to capture an awful lot of people,’ he said.