New Yorkers are relocating to Miami at eye-popping levels. While this trend has been building in recent years, the past few months have seen a spiked flow of Gothamites trading stilettos for sandals, and in most cases, cramped apartments for roomy single-family homes.

40 percent: Decline in New York City office values predicted by Barry Sternlicht, Starwood Capital’s CEO, who moved his company from Greenwich, Connecticut to Miami Beach in 2018 due to a more favorable tax climate.

10,346: Square footage of a $22 million Gables Estates mansion recently purchased by Lee Scott Millstein, a private equity investor and Sylvie Millstein, a fashion designer, who are relocating from New York with this purchase. 

25 percent: Increase in out-of-towners looking to rent in Miami in 2020 compared to last year,…fleeing high density, high-rise locations. They are learning to work from home or they can work from common spaces.

12: Number of months the general partner of a New York-based venture capital firm has agreed to lease a Miami Beach home, which is typical of other entrepreneurs who are taking “a taste” of South Florida before deciding whether or not to stay permanently. These investors are seeking more space, a lower cost of living, and warmer weather for their families during this time.

270: Estimated number of people leaving the New York metro area each day, with most of them choosing Florida. And it’s not just the wealthy residents fleeing increased taxes. Lower to middle-class income earners are also leaving New York and the costly Northeast in general.