Josh Flagg, the real estate star from Bravo’s ‘Million Dollar Listing,’ has listed his $10 million Miami estate on Billionaires’ Row, citing recent political shifts in New York as a key factor. The Mediterranean-style home, fully rebuilt and ready for occupancy in about 60 days, is part of a strategic business move anticipating increased demand from wealthy buyers fleeing perceived anti-wealth policies.
The property, located on North Bay Road in Miami Beach, spans 4,000 square feet with four bedrooms and five bathrooms. It features vaulted ceilings, custom steel doors, and a detached pool house with a sauna and cold plunge, all designed in collaboration with Gary Eisner of BuiltIN Studio. The home sits on a 10,000 square foot lot and has been gutted and reconstructed from the ground up, offering modern amenities while maintaining the charm of the area.
Flagg explicitly tied the sale timing to the election of a new governor in New York, whom he referred to as Mandahmi, stating he contacted his broker Jordan Karp immediately after the results. He believes that policies aimed at taxing the wealthy will drive affluent New Yorkers to seek refuge in Florida, where the tax environment is more favorable. This anticipation of market shifts is a calculated part of his investment strategy.
North Bay Road, often called the Fifth Avenue of Miami Beach, is one of the most coveted streets in the country, home to high-profile residents like David and Victoria Beckham, Michael Bay, and Barry Diller. Properties here regularly sell for tens of millions, with Flagg’s $10 million listing positioned as a more accessible yet luxurious option in a neighborhood where many homes date back to the 1930s.
The sale is managed through Flagg Family Capital, the family’s private real estate investment arm, in partnership with Carolwood LP. Flagg emphasized that this is purely a business decision, revealing he has never spent a night in the Miami home and has recently acquired properties in East Hampton and Manhattan. This diversification shows his commitment to leveraging real estate opportunities across markets.
Construction on the Miami estate is in its final stages, and the buyer can expect to move in within approximately 60 days. Flagg’s move reflects broader trends in luxury real estate, where political events quickly influence investment flows, with Miami emerging as a prime destination for those seeking tax advantages and a vibrant lifestyle.
In a light-hearted remark, Flagg joked about the rapid response of wealthy individuals, saying, ‘One politician says they’ll make the rich pay, and planes at Teterboro start fueling up faster than the Bergdorf sale.’ He added that within a week, many claim to have ‘escaped New York,’ humorously comparing it to a dramatic prison break.
Despite the sale, Flagg maintains strong ties to New York, stating he loves the city and spends half his month there. This indicates that his real estate maneuvers are strategic rather than personal, aiming to capitalize on market dynamics while balancing investments in multiple locations.
