Prominent investors have signaled their intent to halt their business in New York following the $355 million verdict in former President Donald Trump’s civil fraud case.
Real estate mogul Grant Cardone announced on Tuesday that his firm Cardone Capital would no longer underwrite New York real estate, one day after Shark Tank star Kevin O’Leary vowed to no longer invest in the state as a result of the verdict.
“Immediately discontinue ALL underwriting on New York City real estate,” Cardone ordered his firm in a post on X. “The risk outweigh the opportunities at this time. Recent political decisions will continue to deteriorate price and benefit states that don’t have these challenges. Focus on Texas & Florida.”
The Sell or Be Sold author explained his decision on Wednesday in an interview
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