With the New York City mayoral election just around the corner, wealthy apartment owners are resigned to the fact that Zohran Mamdani will win -- and are fleeing the city altogether.
Experts say apartment listings have increased since Mamdani won the Democratic primary in June and things have only gotten worse.
Residents are leaving the city in favor of both North and South Carolina in order to avoid future tax increases and rent freezes Mamdani is proposing.
'There's a lot of inventory right now,' said New York realtor Jay Batra.
'These people are not thrilled about the possibility of Mamdani winning.'
Batra said with the election so close, there's now a new wave of people who are considering selling their apartments.
'Residents continue to relocate to places like the Carolinas, the market is shifting.'
The Carolinas also offer lower resident income tax and lower property tax, a significant draw for city buyers.
New Yorkers are ready to swap skyscrapers for open skies if Mamdani wins because they want to escape his tax hikes.
Some luxury buyers are pulling the plug on purchasing apartments due to Zohran Mamdani's proposed policies.
'There is no question that there are people who are hedging that in the event Mamdani is elected they will step out of New York,' Douglas Elliman luxury realtor Francis Katzen told Daily Mail.
For luxury buyers, they are also are also pulling the plug on purchasing apartments due to Mamdani's proposed policies.
'Two weeks ago, I had a couple of buyers In the $3, $4 and $5million price point range - one I was selling a building to - who are no longer interested in buying,' Batra said.
'They don't want to hear about Mamdani and the rent freeze he is proposing.'
Mamdani's emphasis is on socialism and the redistribution of wealth. He is up against former New York Governor Andrew Cuomo, who is now also running as an independent, and Republican Curtis Sliwa in November.
Mamdani has earned the backing of younger voters through persuasive social media campaigns and in-person visits with New Yorkers across the five boroughs. He's stated his support for taxing the ultra-rich, proposing a 2 percent tax hike on New York City residents who earn more than $1 million a year.
The money from the taxes, he says, will fund programs that would make NYC living more affordable for lower-income residents.
He also supports freezing the rent for the roughly 1 million existing rent-stabilized apartments across the city - the mayor of NYC can appoint members to the Rent Guidelines Board, which oversees adjustments for rent-controlled and rent-stabilized apartments.
New Yorkers in fear of a tax hike are fleeing to South Carolina, where they can get more bang for their buck.
Myrtle Beach, South Carolina is one option for New York City residents who are selling due to the likely win of Zohran Mamdani.
The towns surrounding Charleston, SC, have also seen an influx of New Yorkers who do not want a mayor that will cost them more.
South Carolina offers low taxes, a nice quality of life, year round mild weather and proximity to the beach.
Bright right pink blooms on display at a typical home in South Carolina, where the vibe is not New York but is drawing people who don't want higher taxes.
South Carolina is the chosen place for New Yorkers.
In addition to escaping tax hikes, South Carolina offers lots of new builds in developments that are affordable.
North Carolina is seeing an influx of New Yorkers who don't want to be taxed by a Mayor Mamdani and where they can pay low taxes.
Myrtle Beach is affordable and has a large population of New Yorkers already and is set to welcome aa new wave of those fleeing the city.
Charlotte, North Carolina is also drawing New Yorkers who are moving to the city's suburbs to escape the proposed tax hikes in New York.
The beaches in North Carolina are filling up with New Yorkers who don't agree with Zohran Mamdani's policies.
Zohran Mamdani (pictured) has an emphasis on socialism and the redistribution of wealth.
New York luxury realtor Jay Batra (pictured).
A rent freeze like the one proposed would essentially put a cap on the income landlords can generate from their properties for a set period of time.
Batra says clients he's worked with for years have long invested their millions in New York real estate, growing a portfolio with multiple apartments.
Now, they want out.
'They are very discouraged by everything that's going on in the news, but the consensus overall is that Mamdani is not the direction they want the city to go in,' he said.
'And this agenda is making people pause and think, 'Is this the place they want to park their money?''
Most of those who do end up selling will start anew in Florida, he said.
'They like the ideologies and politics better in Florida.'
Katzen said on the buyer side they are unsure and 'spooked by the uncertainty' of a possible Mayor Mamdani.
Wilmington, North Carolina offers lower taxes and a quieter way of life for New Yorkers looking to escape the possibility of tax hikes.
From high rises to beach living, New Yorkers are choosing the Carolinas when Zohran Mamdani enforces his proposed tax hikes.
New Yorkers don't want to deal with a Mayor that will hike their taxes and freeze rents and instead are leaving the city.
As progressive politics take hold, more New Yorkers are voting to leave the state altogether in favor of the Carolinas.
Charleston is also a hotspot for former New Yorkers even though it is more expensive than the surrounding areas.
Many New Yorkers who move to the Carolinas end up staying for good after they realize they like the beach life.
Many places in South Carolina have managed to maintain that small-town charm amongst an influx of residents from New York.
The lure of charming Southern homes and cheaper mortgages proves irresistible to many New Yorkers who want out.
New Yorkers are swapping high rises for homes in South Carolina developments that have amenities like pools.
People who for years have invested their millions in New York real estate, growing a portfolio with multiple apartments, want out.
while politics heat up in New York, the Carolinas keep drawing them in to the area for its cheaper living and better weather
People are trading Manhattan for Myrtle Beach, where their money goes a lot further and they won't see a tax increase
The Carolinas offer lower taxes, bigger homes and a slower pace of life for New Yorkers who don't want progressive politics
'One of our clients, who has owned and rented out a condo unit in Manhattan for over a decade, recently decided to sell,' she told the Daily Mail.
'Rising operating expenses, growing regulatory uncertainty and the possibility of increased taxes and rent control made him rethink the investment.'
'Another client even texted a photo of their new baby and wrote, 'Where should we go, and how much would it cost?''
For Katzen, this does not spell crisis for the city's housing market.
'For many, New York still offers unmatched opportunity, connectivity and cultural vibrancy. It remains one of the world's most dynamic, resilient and desirable real estate markets,' she said.
'No matter how the election shakes out, the city has always proven its ability to adapt and thrive.'