Huge Flight Of Talent & Capital To Miami Continues, Investor Says

Miami is continuing to attract a major amount of investment and capital, a prominent investor said.

Jack Abraham, who is the CEO of Atomic Labs, made the comments in an interview yesterday with CNBC.

According to Abraham, Miami is “somewhat insulated from the larger economy.”

Abraham said that real estate was still going up in Miami, while it is going down in other major U.S. markets.

He also said that venture capital investment in Miami was up sharply in the past year, while it is down in other major U.S. tech locales.

“I like to think of Miami as a viral product with very high retention,” Abraham said, noting that his friends who had tried Miami had stayed. “I don’t know anyone who’s gone back to Silicon Valley or New York.”

 

 

 

 

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Miami to Stay!
7 months ago

We moved to Brickell from NYC during the pandemic and have not been back since. We love NY, but there are other places in the world we want to see. Miami is the perfect base. Plus we see NYC friends more in Miami than we did in NYC. Couldn’t imagine living anywhere else!

Anonymous
7 months ago

Welcome!!

Anonymous
7 months ago

Welcome! Keep recruiting more New Yorkers please! The change since the great migration is palpable. The increase of NY’ers is helping Miami become a much more civilized and urbanized city and we need more of them!

The New (York) Underline
7 months ago

There’s a huge NYC community who live around the Underline in Brickell. It’s like mini-Manhattan, except with cleaner and newer infrastructure.

Does it Matter
7 months ago

Nawww we got enough people down here gentrifying every piece of land they see forcing the real Miamians to move because of rent payments dramatically increasing. Living here should be how it was back in the day. Open with farm land more natural historic Miami. People who come here now look at us like we shouldn’t be here. This now is like the Simpsons mixed with Family Guy. And it’s sad that instead of increasing the cost to vacation here etc they increase the rent, the parking. Everything you can think of. Everyone and I mean everyone is coming here. Nothing is authentic. Wynwood? We never had to pay for parking. It’s a ishh hole now. All for money! Just sad all around. #bornandraised

melo cheerleader for tea
7 months ago

since the city has a rigged up tax base look for more fees and parking costs….and higher property taxes…

Shirtless Ben
7 months ago

Of course they don’t want to go back. It is too damn nice here. It is January 31st, and I have no shirt on.

Anonymous
7 months ago

Make nipples warm again!

Anonymous
7 months ago

No money left to buy one after the rent payments?

So Extra
7 months ago

No New Yorkers get to save money in Miami – no need to spend thousands on winter clothes every year or state taxes.

Anonymous
7 months ago

^^comedy FAIL

anon
7 months ago

time for these CEO’s to move them companies here. It can’t only be Ken Griffin. Cost of living is too high to justify the mediocre job opportunities here

Anonymous
7 months ago

Would be nice to have weather at 69 degrees maximum this time of year, however.

Anonymous
7 months ago

Nope–82 in January rocks

Anonymous
7 months ago

New York is broken.
Miami winning.

anon
7 months ago

People have been saying that since the 1600’s. It’s still here and still one of the greatest cities in the world.

Anonymous
7 months ago

Yes, for drug dealers, gangs, and criminals.

Celita ✝️
7 months ago

You’re referring to New York City or Chicago… Chicago has Crime has soared in Chicago in 2023; overall crime in January is 61% higher than it was in January 2022.

“Since @chicagosmayor ‘s term began, Chicago has suffered 2,278 homicides and over 9,000 shot,” the Chicago Contrarian noted. “Since January 1, the city has endured 41 homicides and 194 shot. Yet here Lightfoot is blissfully dancing and asking voters to return her to office. Lightfoot is detached from reality.”

Anonymous
7 months ago

Don’t forget illegals housed in a hotel on 57th Street.

Anonymous
7 months ago

Criminals already covers that for breaking the law entering the country illegally. Possibly drug dealers and gangs, too.

On the News Today
7 months ago

Allegedly, “refugees” are complaining about quality of the linens in Manhattan hotels and having parties with lots of alcohol. Ayayay.

Anonymous
7 months ago

Sound like the new generation of Cuban settling camp in Hialeah

Anonymous
7 months ago

Exactly! The most entitled migrants of them all are right here in Miami-Dade.

Anonymous
7 months ago

The per capita crime rate in NYC is roughly 3 times LOWER than Miami, but no one wants to talk numbers relative to population – just sensational headlines

Jack
7 months ago

Stupid math. Pop density off charts in NYC

Does it Matter
7 months ago

And what you think Miami got? You do know how Miami was built up right?

Rob
7 months ago

Guys. Miami is nice. No doubt of that. But new york is on its own league. Even with its problems, new york will always be new york. If not we wouldn’t be comparing ourselves with it all the time. Lol

Ray
7 months ago

There is Miami without new York. It takes new yorkers to move there for it to be worth mentioning

LA MALA
7 months ago

I was in NYC last week, old, tired, dirty, just ugggggggg. I was so glad to come back home and mu few friends that live up there are all making plans to move south. The city is impossible.

Anonymous
7 months ago

New York is NOT broken. Are you aware of all the supertall towers going up in New York? They are gigantic towers worth billions (270 Park Ave, 1,388 FT, 175 Park Ave, 1,575 FT, 350 Park Ave, more than 1,300 FT, Tower Fith1,595 FT, Hudson Yards, Brooklyn Tower 1,073 FT, and many others).

C Teixeira
7 months ago

Not including the gigantic rats underneath
And over 50% of unoccupied office space !!

Anonymous
7 months ago

Yes, developers are building all those supertalls loose billions of dollars. LOL

Anonymous
7 months ago

Sometimes the more you add just turns to more garbage. NYC can’t be fixed with supertalls, it needs a population decrease to be better.

Anonymous
7 months ago

Exactly I’m from Miami but my is still and always will be the major center of business

You have to go back
7 months ago

Why did you move to Florida then?

Kyle N tha Palm Beach hood aka Lake Worth
7 months ago

Yeah and all of them are mega tall McMansions for the uber rich peeps (not that Miami is much better

Name
7 months ago

It’s just Miami anymore – is all 3 South Florida counties and other parts of Florida. Pasco county is booming as well.

Name
7 months ago

Meant to say – it’s NOT just Miami anymore

Melo is sigma and chad
7 months ago

Yeah even Duval county is booming

Kyle N tha Palm Beach hood aka Lake Worth
7 months ago

LMFAO, Ocala is growing fast as well, doesn’t mean it’s a nice place, my husband and I moved here 6 years ago and I can tell you that South Florida is jewel of the state

Anonymous
7 months ago

Parts of Ocala are really nice, lots of high end estates there. Just like Miami has great areas and crap areas.

Anonymous
7 months ago

But you will have to deal with the people in Ocala. More along the lines of Arkansas than New York.

anon
7 months ago

Are you CRAZY!? You can’t mention that BROWARD is growing on THIS SITE!!! Do you know what you’ve done!???? People here *lose it* if you even mention Broward!!!

Jorgito
7 months ago

Broward has no soul.

Kyle N tha Palm Beach hood aka Lake Worth
7 months ago

Yes it does have a soul b!tch biscuit, and it’s a fabulous rainbow of colors! Snap!

Kyle N tha Palm Beach hood aka Lake Worth
7 months ago

Please, no one wants to talk about the county that all the service industry workers live in, that’s like mentioning Queens if you live in Manhattan

Anonymous
7 months ago

Median income in Broward is significantly higher than Miami-Dade. Look it up.

Anonymous
7 months ago

It hasn’t been “just” Miami for years, rather Dade County is leveling out and seeing a resurgence rather than its loss being the rest of Florida’s gain.

Dade You Know?
7 months ago

I hope Dade slows down its random expansionist policies. It’s starting to impact the highways around Miami. The county should focus on improving the city where people want to live and work, drawing in the talent that supports the county, and improve single family areas around the city.

Anonymous
7 months ago

I don’t know why some people keep calling our county Dade . We don’t identify with that name. are our sports teams called the Dade dolphins , the Dade Marlins or the Dade heat ?. the 305 is officially named Miami dade not dade

Anonymous
7 months ago

Probably because it WAS Dade County for decades until a clunky re-naming to Miami-Dade.

Anonymous
7 months ago

Can we split or drop the Dade? The county is holding back Miami and not investing in the city as much as we would like, and using it to build up more traffic zones.

Ray
7 months ago

I was born and raised in Miami it is NOT incorrect to just say Dade county versus Miami Dade that’s stupid

Anon
7 months ago

If you didn’t know this was Dade county until recent, Miami was a city in Dade county. They changed it to Miami Dade county for marketing purposes but everyone was used to calling it Dade that they continued to say it. About sports teams, they are named after the city, it’s not the Duval jaguars, it’s the Jacksonville jaguars.

You have to go back
7 months ago

Has the local government ever done anything to show it cares about the people of Miami Dade? I’ve yet to see the proof.

Anonymous
7 months ago

In Miami I hear more and more English being spoken instead of Spanish. You can tell that the city is changing quick😱

Anonymous
7 months ago

I heard more Spanish spoken in NYC. In Miami I hear English 99% of the time all across Miami. This is a new generation of Miamians and incoming transplants.

Melo is sigma and chad
7 months ago

Yet firms like PwC has Miami employees pay at a tier 3.

Anon
7 months ago

We need more top tier salary local jobs not just remote workers. It’ll come…

anon
7 months ago

I hope so. The “unskilled workers” card is false

You have to go back
7 months ago

That’s why these companies are all flocking there because of the tier 3 wages people here are used to

Anonymous
7 months ago

You can take in a 3rd room mate over at your rental Melo condo, right?

You have to go back
7 months ago

I can’t wait for the next cat 5 to wipe south Florida off the map and send these rats back packing to NY

Anonymous
7 months ago

Yessir!

Mike
7 months ago

New York s*** hole capital

calivalle
7 months ago

Just missing a China town in Miami

melo cheerleader for tea
7 months ago

they never came 100 years ago like the other metropolis…we were a swamp then

The Voice of Miami
7 months ago

Absolutely NOT. We’re good.

You have to go back
7 months ago

On the behalf of all Florida state we hate you and you need to go back, hell let’s trade Mexico for their migrants and we can send them our gutter trash from NYC and the Garbage State and a big fuck you to Ron DeSantis for selling us out to the interests of Goldman Sachs and these big developers from out of state, Florida is for sale to the highest bidder, Florida state be damned!!!

DeSantis Sucks
7 months ago

Move to Ocala

Kyle N tha Palm Beach hood aka Lake Worth
7 months ago

Miami needs more weird people. Just kidding

Anonymous
7 months ago

We need big pharma!!

Jose
7 months ago

Miami International Love beautiful South American women Tropical city Cuban cigars

Anonymous
7 months ago

I do know people who have gone back to New York because of Miami’s pretentious wannabes, and the lack of museums, theaters, schools, mass transit, etc

Melo is sigma and Chad
7 months ago

Miami has all of those and they will live near a metromover station but still get a uber.

Anonymous
7 months ago

Metromover is a wannabe transit.

Anonymous
7 months ago

There’s none of that here? Talk about pretentiousness….

Anonymous
7 months ago

You’re crazy if you think Miami can stand up to New York in those categories. Miami doesn’t come close and this is coming from a local born and raised here. I love Miami but you need to travel some more and realize Miami is not gods gift to this earth lol

Anonymous
7 months ago

It already does. I’ve experience more art, theater entertainment history and culture in in Miami than a decade in NYC.

Anonymous
7 months ago

Your smoking something good right

Anonymous
7 months ago

This has to be a joke. I love Miami as much of the next guy, but there is no way you can say with a serious face that Miami even comes close to NY in terms of culture, museums, theaters, etc. Get real.

Anonymous
7 months ago

You need to travel less and fund your 401K more

Anonymous
7 months ago

I travel a lot and fund my 401K to the max, thank you very much. There is a lot of world outside of Miami (and New York for that matter).

Anonymous
7 months ago

Really? Name one.

Anonymous
7 months ago

jorge perez art museum

Anonymous
7 months ago

I’m sorry but the PAMM is not world class. And when I pass it everyday the exterior is only looking more and more dirty. It’s still pretty new and the design of the structure is barely standing against the test of time. Also the replacement of the hanging garden to artificial plant looks super cheap

Anonymous
7 months ago

NYC is a myriad of cables, patchwork, rats and garbage. It used to at least be authentic but now it’s a Miami wannabe instagram fan page.

Anonymous
7 months ago

Looking at the thumbs down, the truth hurts in when comparing Central Park museums to something that looks like a Latin American dictator’s palace.

Julie Jay
7 months ago

Frost Science, Garcia, Grove Stage, Arsht, Filmore, Seraphic Fire, Miami Ballet, New World Symphony……. And I have not gone into Broward or Palm Beach

BDub
7 months ago

Nu Deco Ensemble is a 21st century chamber orchestra that is uniquely Miami.
Miami City Ballet is in the top tier of companies nationally.
To name just two.

Anonymous
7 months ago

Quit drinking and bringing the average blogger IQ on this site down. The statistics support otherwise.

anonymous
7 months ago

let them go back to their lovely museums and mass transit. While they are there they can enjoy the trash all over the streets, open drug use, cold and hot weather plus the homeless all sleeping at their front door.

anon
7 months ago

I walked by Miami Dade College last night and saw a crackhead lighting up. That was after walking past about 20 homeless people downtown.

Don’t rip on NYC we have plenty of our own problems.

anonymous
7 months ago

thats one small area. I work for a company based in NYC and the amount of homeless people on the streets are no where near what MIami has to deal with

Anonymous
7 months ago

I still have PTSD from NYC.

I saw a woman scream in the village and pull her pants down and poop on the sidewalk.

A homeless man assaulted me and tried to punch me.

Trains got stuck in blackouts regularly.

People pooped on the trains (avoid the trains too empty to be true.)

Streets were flooded. Summer was hot and sticky. Winters were frigid.

Every day people walked over homeless people that may not have been alive yet nobody came to help.

I saw people shoot up on streets.

A crazy man flipped a table at an outside restaurant.

A landlord tore out all the walls in my expensive apartment barhroom without telling me and left it for months.

Another landlord shut the gas supply for months.

The list goes on and it was too much.

The Voice of Miami
7 months ago

Holy moly. That’s absolutely horrendous

Anonymous
7 months ago

True, but considering all the real estate MDC owns downtown and holds its potential back, along with a certain land banker who’s name rhymes with banana…

Rob
7 months ago

Yeah. New York metro has the same population of Florida. It would be crazy if we had the same amount of homeless.

Anonymous
7 months ago

Not any more. FL larger than NYC metro by a few million now.

Brickell
7 months ago

I have lived in Miami for 6 months and it is not NYC or Chicago as walkability is concerned. It is a massive sprawling city like LA with worse traffic and drivers. It can take over an hour to go 15 miles. Also, good luck making friends here if you don’t speak Spanish or Russian. There are no seasons other than 80 with humidity or no humidity. Whatever you save on income tax you will pay back in car insurance and homeowners insurance. I will say Florida handled Covid better than the north but with everything else open now, I don’t see the allure to stay here.

Anonymous
7 months ago

If the typical 8-10% state income tax bill would be less money than a car and home insurance increase, then you’re living WAAAAY above your means.

Brickell
7 months ago

My income tax in Chicago was only 4.9 PCT and I did not have a car payment or car insurance.

Anonymous
7 months ago

So, for example that’s $5k on $100/yr income. If your car insurance and home insurance both increased by over $5k/yr, then that’s too much home and car you got just on $100k/yr.

Julie Jay
7 months ago

The good news is that nobody is forced to stay in Miami…. Lots of us find plenty to love here but fully respect anyone’s right to pack up and leave.

Anonymous
7 months ago

“Whatever you save on income tax you will pay back in car insurance”…and then “I did not have car insurance”…..mmmmkay!

Anonymous
7 months ago

And you’ll be forced to Uber around when the public transportation is down or not safe in those high tax states. That’s more money than car insurance. It’s crazy how much nicer the non-tax states are, makes me think taxes all get wasted.

Anonymous
7 months ago

What other “non-tax states” are you referring to? Tennessee? South Dakota? Yeah, those are definitely super nice states with great education and lots of culture.

MMN
7 months ago

You are overstating ‘typical’. Outside of NY, CA, OR that’s not true. Typical is 4-7% With some great stats like MA and NC at ~5%.

I am also a 6 month newbie here and agree that most of the W2 paycheck withholding savings do get eaten up by car insurance, housing insurance and the difference in property tax.

I knew this though going in as very easy to calculate and evaluate. So every time I hear this talking point from people inside and outside MIA/FL it’s exactly that a talking point not based in reality. I think it’s personal preference in which model you prefer. W2 withholdings or increased in the other tangibles from what would be.

Anonymous
7 months ago

Income tax: 4 percent to 10.9 percent
New York has nine tax brackets, ranging from 4 percent to 10.9 percent. Residents of New York City and Yonkers also pay local income tax on top of state tax.Jan 10, 2023

New York State Tax Guide: What You’ll Pay in 2023

California state income tax brackets and rates depend on taxable income, tax-filing status and residency status. For the 2022 tax year (taxes filed in 2023), California has nine income tax rates, ranging from 1% to 12.3%. A 1% mental health services tax applies to income exceeding $1 million.

California State Income Tax: Rates, Who Pays in 2022-2023

Anonymous
7 months ago

I’d rather have the state keep their hands off my income, and control my tax burden by reducing my spending rather than by reducing my income.

Anonymous
7 months ago

Miami it’s not one of the most sprawling cities in the us . not even close to LA , Houston or Orlando Miami is more walkable than some people think

Anonymous
7 months ago

Brickell is the only other place in America as walkable and built up as Manhattan and Chicago.

Anonymous
7 months ago

Boston? DC?

Hella
7 months ago

I love the weather in Miami, but I think the standard of living is simply subpar. Services, education, transportation, job market, salaries, Healthcare (this being the worst) are just not good here.

Anonymous
7 months ago

It’s a lot easier to attract workers to Miami than to most other parts of the country, hence the lower salaries. Companies only pay as much as it takes to attract labor.

Julie Jay
7 months ago

Really depends… any UofM healthcare provider/facility is world class.

george
7 months ago

LOl If you can find a primary physician there :UM squandering big $$ for a sports stadium instead of funding a core of primary care docs.

Anonymous
7 months ago

So improve it Hella! It’s a hella lot better and easier to improve than the cities that went too far down hill.

Brickell 2
7 months ago

Strongly disagree. I made more friends in Brickell than I did in NYC. Also more people speak English here. In nyc people speak a myriad of languages and no English. Good luck translating in NYC if you can even identify the language.

Anonymous
7 months ago

Get out of Brickell please , how about become a little more aware of your surroundings . Go to Doral, Hialeah, Kendall …. You sound closed minded and ignorant. Sounds like a NYer saying he never got out of Manhattan

Anonymous
7 months ago

plenty of English speakers in Aventura, Sunny Isles, Bal Harbor, Bay Harbor, Pinecrest, Palmetto Bay—see how it works?

Anonymous
7 months ago

Also, school system is shit!!!! I was paying about 25k a yr extra for private schooling, and doesn’t include after school programs. Yeah , I don’t pay state taxes in Fl, but education is great in NY . The states taxes I pay there don’t come close to what I pay in private school and extra curricular activities for my kids. I can but why should I if I don’t have to.

Anonymous
7 months ago

The smartest people I met in NYC were educated in Florida. Education is better in Florida! You get the same quality with public magnet schools without all the elitest hoops of trying to get your kids into some pompous “prestige” school in NYC. The entire ranking system of schools in the northeast is so wonky. The same teachers teach at different universities but some schools considered “top tier” because the alumnus say so. Bologna on the education point.

Anonymous
7 months ago

You must live in a shit school district. Aventura and Pinecrest/Palmetto public schools are great.

Anonymous
7 months ago

That’s right. Nobody drives to work in NYC. Too much traffic!
No good museums or theater….well if that doesn’t occupy a whole 4 hours every two years of free time for the average NYC resident! The horror!

anon
7 months ago

You’re clueless, man. Live there for three years then come back with an opinion.

Anonymous
7 months ago

You lived there, and your experience represents everyone? Talk about clueless…..

Julie Jay
7 months ago

Lived there for fifteen. Loved many things and used to enjoy frequent visits…but…. Miami has grown into a world class city and I would never go back to NY for a host of reasons

John Doe
7 months ago

Same Julie! I hope we meet some day. Every day I meet someone in Miami who came here from New York and we have an instant connection and raise our glasses about how lovely life has become since we moved to Miami.

Julie Jay
7 months ago

Nobody gets shoved under a subway car in Miami either

Anonymous
7 months ago

People in NYC can’t even afford the theater and all the events! Or they do and save absolutely no money for a rainy day. Nobody needs to be in NYC to be amused and find a fulfilling life.

Anonymous
7 months ago

^^exactly

Rob
7 months ago

No good museums in New York???

anon
7 months ago

I moved here from New York. I like it a lot but my biggest reservation is the total lack of transit. It’s a massive lifestyle change to need a car and thousands more out of your wallet every month.

Miami is crushing it in everything except transportation….severely lacking in that respect.

Julie Jay
7 months ago

Transit is a problem…. Getting better but citizenry needs to lobby hard for more transit

Live in Miami’s Manhattan
7 months ago

There’s so much housing around the Brickell metrorail stop, a mix of ultra luxury and standard economy. It’s the perfect neighborhood for NY transplants like all the good parts of Manhattan.

There also are more affordable places to live around the Coconut Grove,
Downtown, Vizcaya metro raíl/mover stops, and if you’re on a really tight budget Overtown. I think people should consider this when moving to Miami.

It makes a world a difference. You’ll want to be near one of these metro stops.

wanderer34
7 months ago

Miami Dade Transit is planning an extension to Hard Rock Stadium and County Line via 22nd Ave NW and it’s in anticipation for the World Cup that’s coming soon to Miami. I believe it’s going to happen and it should’ve happened a decade ago!

Anon
7 months ago

Yes but there are so many metro rail/mover stops as is! We don’t really need more, we need to improve and market those existing stops. People get a whim of Wynnwood on Insta and don’t realize they can have the same look and vibe, probably better, near a metro in Downtown.

Anonymous
7 months ago

A Metrorail extension for one event, Metromover extension to Miami Beach, and BRT to Sweetwater will solve our transit problems?

John Doe
7 months ago

That’s why I live near the Brickell metrorail stop, you can get anywhere in downtown by public transportation, walk around a vibrant neighborhood? and it’s 10-15 min Uber ride to absolutely every neighborhood in Miami (which I go to maybe once a week, which is totally fine) everything else is walking distance.

wanderer34
7 months ago

Miami needs better museums than the Perez Museum. It’s one of the few amenities that the city of Miami lacks right now. Almost everything is so far fine but the museums.

Anonymous
7 months ago

Thankfully, Miami has lots more to offer than museum tours. Year-round outdoor activities and watersports access are the focal points here.

wanderer34
7 months ago

I was referring to getting world-class museums in Miami. Surprisingly, there are a lot of people who don’t really go surfing or the beaches in Miami, strangely as it seems, but there is an arts crowd that would patronize the arts and Miami needs an arts museum that can support that crowd.

Anon
7 months ago

We need one in Brickell or Riverside Wanderer

Julie Jay
7 months ago

When you wake from your woke coma, read some stats, take a drive and visit some local venues. The once vibrant New York that I loved is now experiencing death rattles and dystopian streets…… but you are certainly free to go back if you can’t make it here

Adam B.
7 months ago

If you can make it in New York, you can make it anywhere… But

If you can make it in Miami, you won’t want to make it anywhere else!

Anna
7 months ago

Welcome to the sunshine state

Anonymous
7 months ago

Miami has all of that. nYers live in a bubble and think that they invented those things but they’ve been around and exist throughout human civilization. It’s a big lie they tell you to live in a shoe closet and pay lots in rent in NYC.

Scott
7 months ago

Lived in NYC for 15 years. Miami for 5. Miss certain restaurants and people and certain vibes, but love living in Miami. Now that I have two dogs, can’t imagine returning to NYC. Nightlife here rocks!!

C Teixeira
7 months ago

You forgot the big rats eating all kinds of parts on expensive vehicles????

Ray
7 months ago

I was born and raised in Miami but love the new York area too much I now live in Fairfield county in Connecticut and not going back to Miami. I do still have love for Miami though. Love the development

Anna
7 months ago

Oooops, i know you will be back

Anonymous
7 months ago

Enjoy 10 degrees and state income tax