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Today’s Number: 3,987

SFBW has closely followed the hottest story about South Florida’s changing population picture, most notably in “Is Miami Mayor Suarez building castles in the Twitter air?” In it, we took a hopeful view, recounting the major players and businesses who’ve headed to, or expanded, south: Blackstone, Carl Icahn, Elliott Management, Starwood, Colony Capital and Founder’s Fund, to name a few. But we also sought to manage expectations.

Today, in a Bloomberg article that already has locals buzzing, the outlet is cautioning that the widely reported exodus of high-earners and the financial sector from New York to South Florida may be overblown. It notes that according to the U.S. Postal Service, “last year, 2,246 people filed a permanent address change from Manhattan to Miami-Dade County and 1,741 went to Palm Beach County.”

That’s a total of 3,987 changes of address. “Together,” the article continues, “they account for 9% of the out-of-state moves from the borough, up from 6% in 2019.”

The final indignity: “More Manhattanites relocated to Jersey City, Los Angeles, Philadelphia, Chicago and Hoboken, New Jersey, than they did to either Miami or Palm Beach. Except for Philadelphia, the other destinations are in some of the highest-taxed states.”

“Sounds like the authors have a little skin in the game,” says Charmel Maynard dryly, about the Bloomberg article. Maynard is the chief investment officer and treasurer of the University of Miami, and has worked for JPMorgan Chase in New York.

The article makes several of the same points SFBW did, noting that Manhattanites are attached to the schools, the talent pipeline, the Hamptons. New Yorker Jason Mudrick, who, the article notes, oversees $3 billion at Mudrick Capital Management, is not buying the hype: “ ‘New York has the smartest, most driven people, the best culture, the best restaurants and the best theaters … Anyone moving to Florida to save a little money loses out on all of that.’ ”

Yet the corporate mecca of midtown Manhattan is a ghost town. Will it remain so once everyone is vaccinated? People will surely return to Broadway, but will they return to traditional offices? As we pointed out in “Is Miami Mayor Suarez building castles in the Twitter air?” it’s difficult to understand a transition when you’re right in the middle of it.

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.