Is Florida OK? How Real Estate Has Been Faring in the Sunshine State
Despite a recent surge in COVID cases, real estate investment has continued to pour into the Sunshine State at or above pre-virus levels. Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital, says that investors and homebuyers were flocking to Florida before the pandemic thanks to the state’s low tax burden, and that people he knew who were on the fence about the southward move have since “accelerated those plans.” With rents in MRC-backed buildings staying at pre-pandemic levels and many New Yorkers fleeing for Florida’s freer air, the private equity firm remains bullish on the Sunshine State. “We’re looking at more opportunities and we will be doing more business,” Zegen said. “Our capital is really in great demand in Florida.”
