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The Big Chill -- High Tax States Fear Buyers Headed to Florida

February 5, 2019 GMT

MIAMI--(BUSINESS WIRE)--Feb 5, 2019--Miami is known for its sunny, splendid year-round weather. It is also known for its tax-friendly climate. And as the Wall Street Journal reported today, high-tax states like NY fear big earners will soon bolt to low income tax states like Florida.

Fortune International Group -- a recognized leader in development has witnessed this trend and is targeting these potential buyers by most recently hosting an event at Manhattan’s chic Lowell Hotel located on the city’s Upper East Side, where they provided an exclusive opportunity to introduce over 200 leading New York real estate professionals and prospective homebuyers to a curated selection of Miami’s most prestigious properties including Jade Signature, The Ritz-Carlton Residences, Sunny Isles Beach, 57 Ocean, Brickell Flatiron, Monaco Yacht Club & Residences, Missoni Baia, Una Residences, and 2000 Ocean.

Fortune’s showcase featured in-depth insight into the many advantages that tax-friendly states like Florida offer New York residents with a special discussion on the financial benefits of investing in Florida real estate by tax expert Barry Horowitz, CPA and partner at Withum. Said Horowitz, “There are a lot of rich folks trying to get out of New York.”

“The showcase provided an up-close look at our collection of prime, luxury properties in Florida. The interest was phenomenal and produced a bigger turnout than what we expected. As a result our showcase tour will continue throughout the northeast next month and the rest of 2019,” said Edgardo Defortuna, CEO Fortune International Group.

Among the properties on display included:

To view photos from the Miami Luxury Property Invitational held in New York, visit link here.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190205005911/en/

CONTACT: Sissy DeMaria

Kreps DeMaria

305.663.3543

sdemaria@krepspr.com

KEYWORD: UNITED STATES NORTH AMERICA FLORIDA

INDUSTRY KEYWORD: BUILDING SYSTEMS LUXURY TRAVEL DESTINATIONS LODGING ARCHITECTURE INTERIOR DESIGN PROFESSIONAL SERVICES LANDSCAPE ACCOUNTING REIT BANKING URBAN PLANNING CONSULTING FINANCE RETAIL COMMUNICATIONS FASHION MARKETING PUBLIC RELATIONS/INVESTOR RELATIONS OTHER COMMUNICATIONS CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE RESIDENTIAL BUILDING & REAL ESTATE

SOURCE: Fortune International Group

Copyright Business Wire 2019.

PUB: 02/05/2019 02:57 PM/DISC: 02/05/2019 02:57 PM

http://www.businesswire.com/news/home/20190205005911/en