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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 warmer climates a lot earlier than retirement. 

<p class="mol-par compared to the same time last year, with robbery and felony assault up 6. If you have any queries with regards to the place and how to use EVden EvE nAKliyAt, you can get hold of us at our own web site. 3 and 12.2 percent, respectively.  

In the past two years, major 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. 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, EVDeN EvE nAKLiyaT 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 EvDEn Eve nAKliYaT 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.