"A lot of people are worried," said Isaac Toledano, CEO and founder of BH Group Miami, a high-end real estate development firm.

Toledano said the race for mayor in New York City could have ripple effects in South Florida.

"We already see a lot of New York buyers, and their brokers and agents, and representatives, already looking to buy real estate and getting information," Toledano said.

Concerns tied to Mamdani's platform

Toledano said his clients are concerned that if self-described democratic socialist Zohran Mamdani is elected mayor, crime and taxes will rise.

Mamdani has campaigned on lowering the cost of living for working-class residents, proposing a rent freeze and free bus service—partially funded by a 2 percent tax increase on top earners.

He is currently leading in the

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