Website lures disgruntled New Yorkers to dwindling housing supply

Written by Lauren Lamb on January 11, 2022

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A website shouting out why disgruntled New Yorkers should move to Doral continues to draw traffic as its third anniversary approaches, but developer Armando Codina, who created it, has not kept the story going. site even if it is more relevant than ever. It seems that he no longer has residences.

Now he’s looking to replicate Coral Gables’ success with its 18-story upscale Regency residences, expecting to rent about 20% to New Yorkers who flock to the area. In neighboring Coconut Grove, Miami Today reported last week, New Yorkers are gobbling up the housing stock.

Codina Partners designed and launched the website, UnhappyNewYorkers.com, on April 15, 2019. The home page reads, “Taxes high. Bad weather.

Exorbitant cost of living. What not to like? The campaign makes a point of luring people to Florida to escape high income taxes and “live where most people vacation.”

“They were way ahead of themselves, creating this before covid,” said Ron Shuffield, president and CEO of Berkshire Hathaway HomeServices EWM Realty. “It played well in the covid. The people who live here are attached to a job in New York City, but with the growth of remote working, they can work from anywhere.

When the pandemic started, Mr. Codina, executive chairman of Codina Partners, said: “Who wants to take public transit? Who would want to work in a 60 story office building?

Mr. Codina has made it clear that the residential flow from New York to Miami is no longer just immune to taxes and inclement weather, but also to public safety concerns.

“I briefly heard New York’s new mayor, Eric Adams, speak. He said New York needs to get its public safety issues back on track, ”Codina said. “But the new district attorney, Alvin Bragg, announced that he was not going to prosecute most crimes. The mayor has a lot of challenges, and I’ve heard New Yorkers say that public safety is one of the biggest concerns. “

“We still get a lot of calls from people in the New York area interested in relocating here,” said Mr. Codina. “But we didn’t maintain the website because we are out of product in downtown Doral. There are so few houses left.

Codina Partners hopes to get a permit in April to start in May or June for its new Regency residences in Coral Gables.

“My market has about 80% empty nests in Coral Gables,” said Codina. “About 20% of the market will come from New York, in demand for residency. If they decide they want to build a house or move out of there, this is a great building to visit. Or stay inside.

Leases can be annual, or the larger “heavenly houses” in the complex have longer leases of five to ten years.

“Miami came on its own in terms of the arts, sports and restaurants,” Codina said. “It’s more ready for New Yorkers than it was 10 years ago.”

“A lot of people hadn’t thought of moving when the website was first created,” Mr. Shuffield said. “Then they saw the tangible comparisons and thought about the boost in the move and their net worth. “

New York income taxes consist of federal, state and, in New York, local tax. Florida is one of the seven states that have no income tax.

According to a report on the United States third quarter to third quarter 2021 “internal migration” market, New York is losing 874 citizens per day while Florida is gaining 579 per day.

“Motivation to relocate also includes businesses that have moved here, like Microsoft’s 50,000 square foot [lease] at Brickell. Mr. Shuffield sees luxury home sales in the $ 50 to $ 75 million range. “We’ll soon see a $ 100 million house sell.”

“The number of people we have helped find accommodation since [website] the launch is way beyond what we expected, ”said Mr. Shuffield. “We help people escape high taxes and escape their lifestyle, especially this time of year. According to the US Weather Atlas, the average temperature in New York in January is 35 degrees, while Miami averages 73.

“In the beginning, we had a lot of traffic and attention on the website,” said Mr. Codina. “We haven’t updated it since 2019 because we don’t have a product. But we will be reactivating the website with the new building in Coral Gables, in April during tax season, like we did the first time around.

According to Mr. Shuffield, Codina Partners did not understand the huge trend she was creating.

“Covid has helped start this trend,” Mr. Shuffield said. “And the trend is here to stay.”

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