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Grant Cardone Says He Will Avoid New York and Double Down in These 3 States Instead

In Business
February 24, 2024

Grant Cardone has taken to X, formerly Twitter, to air out his concerns over the recent ruling against former President Donald Trump,  in which he has been ordered to pay $355 million in penalties plus interest.

He began with a post saying, “Dear Cardone Capital team, Immediately discontinue ALL underwriting on New York City real estate. 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.”

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Cardone followed this up with a post the following day that read, “This NYC Judge will sell more real estate in Florida than all the real estate agents & broker’s combined. His overreach in Trump case will cost NYC immeasurable amounts of revenue that will take decades to reverse. CardoneCapital doubles down in Florida, Texas & Arizona.”

The image in the post is of Judge Engoron.

Florida, Texas, and Arizona… and maybe this state?

So, Cardone Capital and his other entities will be focusing on Florida, Texas, and Arizona, rather than taking any risk in New York.

A fourth state, Tennessee, was mentioned in a post he made a few days prior, which also mentioned Florida, Texas, and Arizona. It’s unclear if he changed his mind on Tennessee in the days following.

Cardone has made his opinion clear. We will see how other real estate investors and developers navigate the New York real estate market going forward.

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Image Credit: YouTube

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This article Grant Cardone Says He Will Avoid New York and Double Down in These 3 States Instead originally appeared on Benzinga.com

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