Shoma Group CEO Masoud Shojaee and BH Group CEO Isaac Toledano spoke exclusively to Fox News Digital about the wealth migration and sales trends they have seen from New York and California in 2026 to now.
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As 2026 ushers in a new wave of “tax the rich” talk in traditional financial centers, Florida’s top developers tell Fox News Digital they see a huge, unending increase in capital migration. In just the past 60 days, two developers and one sales firm have reported more than $126 million in sales to buyers from California and New York, indicating that the exit from the blue state has gone from a temporary trend to a flood of hundreds of millions of dollars.
“In our three projects … we have seen more than 60 million dollars in the last 30 days, and I can tell you that in the last six months between the three projects together, we have sold more than 200 million products. We still see many buyers from New York, California, New Jersey and Illinois. These are the four main markets,” BH Group CEO Isaac Toledano told Fox News Digital.
“We have estimated $50 million in Shoma Bay alone since the beginning of the year from buyers in New York and California. What is different now is the conviction,” Shoma Group CEO Masoud Shojaee also told Fox News Digital. “People aren’t just looking, they’re signing contracts, and that tells us this has staying power.”
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“In the first 60 days of 2026, we have already seen a significant increase in interest and activity in our condo projects. Based on this momentum, we expect that the total transactions this year will exceed 2025,” ISG World founder and CEO Craig Studnicky added, telling Fox News Digital that they saw 26 million dollars in the capture of billions and 5 million migration from New York per year the past.
Between the three real estate companies, more than $126 million in sales have been completed from California and New York in 2026 to date. (Getty Images)
Based on these latest numbers, the three real estate tycoons agree that this is not just a small increase, but a compound growth curve. And while Florida’s tax benefits have long been a hook for new residents, the incentives for a new wave of high-net-worth individuals are the rise of pro-socialist policies in New York and upcoming wealth taxes in California.
“We cannot ignore that Mayor Mamdani, a few weeks ago, [has been] mentioning that they’re going to raise real estate taxes and wealth taxes, and the same in California,” Toledano said. “Here, everybody’s pushing that we’re probably going to see real estate tax bills go down… the attitude here is completely different.”
“People want to simplify things… they want confidence. They want to protect their business. They want clarity,” added Shojaee. “If there is no predictability, if there is no trust, if there is no clarity, if there is no simplicity, the business will not work. And that is the issue they have.”
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The main criticism of the Florida boom is that it was an epidemic. However, the data for 2026 suggests that this is a systematic migration of American wealth. Shojaee stressed that if the CEO moves his home or headquarters, he is not coming to visit for a holiday.
“If it was just to buy their real estate for the sake of buying a residence, yes, I would say it would be a trend. But when you move your business and your wealth to Miami or Palm Beach or South Florida, that’s really forever,” said Shojaee.
Studnicky backs this up with a dramatic shift in his sales data, from temporary residents to full-time Floridians.
“Two-thirds of my sales in the US before COVID were second homes,” Studnicky said. “That’s complete [flipped]. Two-thirds are full-time residents.”
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This influx of 24/7 business residents is forcing a fundamental redesign of Florida’s luxury landscape as developers move away from traditional resorts toward infrastructure that supports high-end professional living. For Studnicky, that means prioritizing the garage over the pool.
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“When I sit with the developers today… we talk about parking like we talk about a swimming pool,” said Studnicky. “Everybody comes with two cars, and they want to park their cars… Parking has become a big deal.”
Toledano added that the level of consideration for new residents has reached an all-time high as they carefully look for places that will suit their lifestyle.
“Buyers [in] The last few years have been very complicated. They want to know more about the property, more about the engineer, more about the architect, the interior designer, [are] to pay for the product. And they want to make sure they get the best,” Toledano said.
“I think if we’re going to continue to see a few big financial firms move to Florida, this is going to be a big game changer.”
Concerns about the “Californication” or “New York-ifying” of Florida are underplayed, as real estate experts argue that names like Mark Zuckerberg, Larry Page and Sergey Brin aren’t coming to “repeat what they left behind.”
“I’ve lived here for 32 years, that’s an extreme concern,” Studnicky said. “The people who immigrate here are financially sound, and they are serious about business and entrepreneurial spirit. I have never seen you live anywhere like I do here [South Florida].”
The founder of ISG World added that the presence of President Donald Trump in Palm Beach also has an impact.
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“Mar-a-Lago in Palm Beach is South of the White House. Donald Trump spends as much time at Mar-a-Lago as he does at the White House. In other words, his mere presence here tells people… that this is a good place for money, and it’s very safe.”
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As “Wall Street South” grows, the question is no longer whether Florida can compete with the world’s conventional funds, but when it can surpass them. As Toledano puts it, the current boom is probably a prelude. If the current trajectory remains, the South Florida of 2030 will not just be a haven for residents of high-tax states — it will be the new center of American capital’s momentum.
“I believe this is evolution. This is not a competition,” Shojaee said. “It’s possible that that happens … and we’re going to see wealth moving here and that they’d like to be here.”
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