New York’s Wealthy, and Their Haunts, Fled to South Florida
Photo: Heritage Image Partnership Ltd / Alamy Stock Photo
South Florida has long been a seasonal destination for New Yorkers, but the year of COVID it started to appear as a one percent exodus. Miami, bristling with starched skyscrapers, islands filled with waterfront mansions, and an art scene that had become world-class over the past 20 years thanks to Art Basel, was eager and ready to move on. a flashy getaway to a permanent home. Palm Beach, roughly the same physical and aesthetic distance from Miami as the Hamptons are from Manhattan, was already the winter home of the Wall Street greats as well as anyone who wanted to cool off in Mar-a-Lago. “December has been one of the busiest months of our careers,” says premium real estate broker Jill Hertzberg of the Jills Zeder group of Coldwell Banker. Art galleries have opened branches to serve their outsourced collectors, as have branded restaurants to serve their sunburnt regulars, and Goldman Sachs has considered moving part of its asset management division there. But with the retreat of winter and the rise in vaccinations, the question is to what extent this trend will be permanent (even if the taxes are lower). As a Wall Street executive recently told Bloomberg, “The main problem with moving to Florida is that you have to live in Florida.”
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➼ Scott Shleifer: Co-founder of New York-based Tiger Global Management, he broke a record in Florida, paying $ 122 million for a two-acre oceanfront mansion.
➼ Ken Griffin: In addition to amassing a Star Island estate in Miami, backer Citadel has invested at least $ 350 million in more than 20 acres of lots just south of Mar-a-Lago.
➼ Donald Trump Jr. and Kimberly Guilfoyle: Move to a seven bedroom mansion in Admirals Cove, a private community and club in Jupiter (not on the map), 20 miles north of Mar-a-Lago. They have enough frontage for an 85 foot yacht. Guilfoyle is also reportedly considering annexing the neighboring house.
➼ Donald Trump: Just months before the pandemic, the longtime New Yorker declared himself a Florida resident – which means Mar-a-Lago. Although an agreement with the city states that club members are not allowed to live there full time, Trump’s attorney maintains that as the club’s “mayor”, Trump is a “bona fide employee. Which would make it acceptable. The city council will vote on it in April.
➼ Citadel Securities: Relocation of part of its trading floor to the Four Seasons Resort Palm Beach last March.
➼ Elliott Management: Paul Singer is transferring his $ 41 billion fund reportedly south to the 360 Rosemary office tower under construction.
➼ by Steve Cohen Point72 asset management is also moving to 360 Rosemary.
➼ The Bilboquet: Once nicknamed “New York’s most posh restaurant”. A branch opened this year, owned by former Warhol muse, Jane Holzer.
➼ Saint Ambrose: Madison Avenue, the West Village, Soho, Southampton and now Palm Beach. Miami probably next.
➼ The glutton: Since opening, it’s become a great place to spot plutocrats (Stephen Schwarzman!).
➼ Almond: Bridgehampton, the Flatiron District, and now also here.
➼ Swifty’s: The café of the late large society is reborn.
➼ Skarstedt: Recently opened with a KAWS show.
➼ Levy Gorvy: Currently showing: Pat Steir.
➼ Pace: Kenneth Noland.
➼ Acquavella: Tom Sachs.
➼ Paula cooper: Group exhibition: “The politics of desire”.
➼ Lehmann Maupin: McArthur Binion, Teresita Fernández and Nari Ward.
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➼ Dan Loeb: The founder and CEO of Third Point paid $ 20 million for a six-bedroom mansion.
➼ Gabe Plotkin: Its Melvin Capital Management was one of the short sellers hit aside by the GameStop Reddit revolt. He spent $ 44 million on two adjacent houses by the bay.
➼ Peter Thiel: Last fall, the co-founder of PayPal and venture capital firm Founders Fund (and first Trump supporter) bought side-by-side mansions for $ 18 million on an island west of the Standard Hotel.
➼ Keith Rabois: Thiel buddy and VC investor in Yelp, LinkedIn, PayPal and Square, bought a big square white house for almost $ 29 million.
➼ Ken Griffin: Citadel Hedgie has sold its penthouses to Miami Beach oligarchs’ getaway, Faena House, and is assembling around $ 95 million worth of lots on Star Island to build a palace there.
➼ Jon Oringer: Alex Rodriguez’s former waterfront home cost the founder of Shutterstock, who is said to be New York’s first tech billionaire, $ 42 million last year.
➼ Douglas bags: The managing director of Goldman Sachs spent $ 11.7 million on a unit at Eighty Seven Park designed by Renzo Piano.
➼ Daniel Glass: The founder of the Manhattan-based Glassnote Entertainment Group (Mumford & Sons, Childish Gambino) spent $ 6.6 million on a piano pad.
➼ Cindy Crawford and Rande Gerber: Paid nearly $ 10 million for a 3,800 square foot teardown in 1955 just before New Years. They’ll be down Oringer’s Bay and Plotkin.
➼ Tom Brady and Gisele Bündchen: Purchased 1.84 acres of waterfront land, which includes a teardown, for $ 17 million on Indian Creek Island. They would sell their Tribeca apartment for almost $ 40 million.
➼ Ivanka Trump and Jared Kushner: Purchased 1.8 acre land on Indian Creek Island for $ 32 million from Julio Iglesias. While waiting for construction, they rent in Arte condos, within walking distance of their eventual home.
➼ During this time, according to People magazine, in january, Ivanka’s half-sister Tiffany “Actively looking for a house in Miami Beach”.
➼ Karlie Kloss and Josh Kushner: Jared’s brother and his pregnant model wife, Karlie Kloss, are believed to be living in a waterfront mansion in Miami Beach on North Bay Road.
➼ Icahn companies: Billionaire Carl Icahn, who has lived seasonally on the chic and ultra-private island of Indian Creek since 1997, has made 2020 the year of the transfer of his New York investment conglomerate, Icahn Enterprises, to Sunny Isles. Beach (not on the map).
➼ Founders Fund: Signing of a lease at Brickell City Tower.
➼ Black stone: Stephen Schwarzman’s hedge fund has moved to 2 MiamiCentral.
➼ Side: Michelin starred Korean steakhouse, now in the Design District.
➼ Full ownership: Now open in Wynwood, packed with a pizzeria singing pies and pies in ’70s New York City by Roberta’s alum, Anthony Falco. (Speaking of Roberta’s, the restaurant opened a pop-up in the Design District in 2017 and is reportedly looking for a permanent space in Miami.)
➼ Osteria Morini: Expansion south of Soho.
➼ Pastis: Keith McNally’s Meatpacking District bistro will open in Wynwood in the summer of 2022.
➼ red rooster: In December, Marcus Samuelsson opened a second edition of his Harlem box, the Red Rooster, in Miami’s Overtown neighborhood and decorated it with artwork by Rashid Johnson, Mickalene Thomas, Kara Walker, Pope.L and Hank Willis Thomas.
➼ Carbon: The outpost of the original Thompson Street, with artwork curated by Vito Schnabel. According to Artnet, Aby Rosen and Clive Davis were spotted there recently.
➼ Soho Beach House: This place long predated the pandemic, but it’s a good place to find tech and finance expatriate bros wondering if they’d be happier zooming out of paradise full-time. But are the schools good enough?