‘We’ve reached a tipping point’: Real estate titans reveal why Florida is still a bargain play over NYC

August 17, 2026 - 03:47

Two prominent real estate executives say the Sunshine State has crossed a critical threshold, and they believe the migration wave is far from over. Ryan Shear, managing partner at PMG, and Danielle Naftali, executive vice president at Naftali Group, recently laid out why they see Florida as a smarter long-term investment than New York City, even with Manhattan's recent rebound.

Shear argues that the pandemic-era movement of people and companies was not a temporary blip but a structural change. He points to accelerating corporate relocations, with finance and tech firms opening significant offices in Miami and Tampa. The math is simple, he says: zero state income tax means a senior executive or entrepreneur keeps more of their earnings, and that advantage compounds every single year. Naftali echoes that sentiment, noting that buyers are not just retirees anymore. They are working professionals in their thirties and forties who want a lifestyle that includes space, weather, and a business-friendly environment.

Both developers see the current pricing gap between Florida and New York as an opportunity. While prime Manhattan condos still command record prices per square foot, comparable luxury units in Miami or Fort Lauderdale trade at a noticeable discount. That gap, they argue, will narrow as infrastructure improves and more headquarters relocate south. They also point to the state's growing cultural scene, from new museums to high-end dining, which helps retain residents who might otherwise miss big-city amenities.

The message is clear: Florida is no longer just a vacation home market. It is a primary residence market with serious institutional capital behind it, and the leaders believe the tipping point has already passed.