Masoud Shojaee, CEO of Shoma Group, and Isaac Toledano, CEO of BH Group, offer exclusive insights to Fox News Digital regarding the patterns of capital relocation and the transactions they’ve recorded from New York and California, year-to-date in 2026.
EXCLUSIVE: New York and California are no longer merely shedding inhabitants — they are witnessing the departure of an entire financial stratum.
As 2026 heralds a renewed push for “tax the rich” discourse in established fiscal centers, leading Florida property builders are informing Fox News Digital of a substantial, enduring influx in wealth movement. In merely the past 60 days, two developers and one sales firm disclosed transactions exceeding $126 million to purchasers resettling from California and New York. This signals that the outflow from left-leaning states has transitioned from a brief dribble to a torrent representing hundreds of millions of dollars.
“Across our trio of developments… we observed over $60 million in the last month, and I can confirm that in the preceding six months, combining all three projects, we transacted more than $200 million in properties. We continue to see numerous purchasers originating from New York, California, New Jersey, and Illinois. These constitute our primary four regions,” BH Group CEO Isaac Toledano conveyed to Fox News Digital.
“We stand at approximately $50 million in Shoma Bay alone since the year commenced, derived from New York and California purchasers. What distinguishes the present moment is the resolve,” Shoma Group CEO Masoud Shojaee likewise communicated to Fox News Digital. “Individuals are not merely browsing; they are finalizing agreements, and that communicates to us that this possesses enduring momentum.”
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“Within just the initial 60 days of 2026, we’ve already experienced a notable rise in inquiry and engagement at our condominium developments. Given this impetus, we project overall deals this year will exceed 2025,” ISG World founder and CEO Craig Studnicky further remarked, informing Fox News Digital they’ve recorded $26 million in capital relocation from New York and California year-to-date, an increase from $15 million at the identical point last year.
Between the three real estate enterprises, over $126 million in sales has been finalized from California and New York during 2026 thus far. (Getty Images)
Based on these most recent figures, the three property magnates concur that this represents not just a minor improvement, but rather an accelerating expansion trajectory. And while Florida’s fiscal advantages have long served as the allure for fresh arrivals, the primary drivers for a new influx of affluent persons are the emergence of left-leaning governance in New York and impending asset levies in California.
“We must acknowledge the reality that Mayor Mamdani, over the past few weeks, [has been] suggesting they’re likely to elevate the property levies and the asset levy, and the same situation holds in California,” Toledano stated. “Here, everyone is advocating that in all probability we will see the real estate tax bills getting reduced… the atmosphere here stands in stark contrast.”
“People are seeking straightforwardness… they desire assurance. They want to safeguard their enterprises. They want to find transparency,” Shojaee added. “If there’s no foreseeability, if there is no reliance, if there is no perspicuity, if there is no uncomplicatedness, business will not operate effectively. And that’s the dilemma they face.”
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The main contention regarding Florida’s surge was that it constituted a COVID-19 aberration. However, the 2026 data indicates this is a fundamental shift in the location of American wealth. Shojaee stressed that when a CEO relocates their residence or corporate base, they are not arriving for leisure.
“If it were merely for the purpose of acquiring properties, yes, I would say it might represent a fleeting pattern. But once you relocate your enterprise and assets to Miami or Palm Beach or South Florida, that is truly enduring,” Shojaee said.
Studnicky corroborates this with a significant alteration in his own transaction figures, transitioning from seasonal occupants to permanent Floridians.
“Two-thirds of my U.S. sales prior to COVID were second homes,” Studnicky disclosed. “That has entirely [reversed]. Two-thirds are long-term inhabitants.”
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This arrival of around-the-clock professional inhabitants is necessitating a core re-envisioning of Florida’s upscale environment as developers are shifting focus from conventional leisure facilities to infrastructure that accommodates a demanding work existence. For Studnicky, that implies placing greater importance on parking facilities than recreational waters.
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“When I meet with property builders today… we discuss vehicle accommodation as much as we discuss the aquatic feature,” Studnicky said. “Everyone is arriving with a pair of vehicles, and they desire to self-park their automobiles… Parking has become a major consideration.”
Toledano added that the degree of examination from recent arrivals has peaked as they search painstakingly for settings to optimally align with their way of life.
“The purchasers [in] the last few years became more discerning. They seek greater understanding about the locale, more about the builder, more about the designer of structures, the indoor aesthetic specialist; they [are] investing in property. And they want to ensure that they’re receiving unparalleled quality,” Toledano said.
“I believe that if we persistently observe a few major monetary institutions relocating to Florida, this will be a profound transformative factor.”
Apprehensions about the “Californication” or “New York-ifying” of Florida are exaggerated, as the property specialists contended that figures like Mark Zuckerberg, Larry Page, and Sergey Brin are not arriving to “replicate their former environs.”
“I’ve been residing here for 32 years, that apprehension is overstated,” Studnicky said. “The individuals relocating here, they’re financially very prudent and they’re profoundly enterprising, and that venturesome ethos. I’ve not witnessed such vitality anywhere as I do here in [South Florida].”
The ISG World founder further noted that President Donald Trump’s residence in Palm Beach likewise exerts sway.
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“Mar-a-Lago in Palm Beach is the White House South. Donald Trump devotes as much duration at Mar-a-Lago as he truly does in the White House. Put differently, his sheer attendance here is communicating to individuals… that this is a financially conservative locale and it’s exceptionally secure.”
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As the “Wall Street South” develops, the inquiry is not whether Florida can contend against the established fiscal hubs of the world, but rather when it might exceed them. As Toledano expresses it, the present surge is probably merely the prelude. If the present course continues, South Florida of 2030 won’t just be a sanctuary for inhabitants of states with elevated taxation — it will be the new nucleus of attraction for American capital.
“I contend this is a progression. This is not a rivalry,” Shojaee added. “It’s a strong likelihood that happens… and we will see the wealth that is relocating here and that they prefer to reside here.”