I Refuse to Conduct Business in New York City

Grant Cardone Slams NYC After Trump Verdict: ‘I Will Never Do Business In New York City’

In a bold declaration that has reverberated through the business community, real estate mogul Grant Cardone announced he will no longer conduct business in New York City following the recent verdict against former President Donald Trump. This decision comes in the wake of Trump being found guilty on all 34 charges related to a hush money trial, a ruling that has sparked significant controversy and debate about the legal and business climate in New York.

The Context of Cardone’s Decision

On May 30, Cardone took to social media platform X (formerly Twitter) to express his discontent with the current state of New York City’s real estate market. He posed a provocative question to his followers: "Why would anyone invest in New York City real estate?" His post highlighted several critical issues that he believes make the city an unviable option for investors, including the inability to evict tenants, raise rents, predict taxes, and secure fair legal treatment.

Accompanying his post was a clip from a Fox News interview in February, where Cardone had already indicated his intention to "immediately discontinue" any business dealings in New York City. This statement came shortly after Judge Arthur Engoron ruled that Trump and his organizations owed over $345 million in damages, alongside a 9% interest penalty, and barred Trump from serving as an officer or director in any business within the state for three years.

The Risks of Investing in NYC

During his Fox News appearance, Cardone elaborated on the risks associated with investing in New York. He emphasized that the political climate and legal rulings in the state have created an environment where the potential for cash flow is unpredictable. "We invest for 14,000 investors at Cardone Capital that depend on cash flow," he explained. "If I can’t predict the cash flow because of some ruling, or because of the migrants, or because I can’t evict people, New York City just keeps doing every single thing they can to sell real estate in Florida, not sell real estate in New York."

This sentiment reflects a growing concern among investors about the stability and reliability of New York’s real estate market. Cardone’s comments resonate with many who feel that the city’s regulatory environment is becoming increasingly hostile to property owners and investors.

A Call to Action

In light of the verdict against Trump, Cardone has encouraged his followers to take action by supporting a GoFundMe campaign aimed at raising funds for what he describes as an "Unjust Judgment." The campaign, created by his wife, Elena Cardone, has already garnered over $2 million from more than 34,000 contributors. "Any amount sends a message that we support Donald Trump," he stated, urging his followers to stand against what he perceives as a politically motivated attack on business.

Elena Cardone also weighed in on the situation, announcing that they would cancel all future events in New York and halt any real estate ventures in the city. She expressed her belief that New York is currently unsafe and not conducive to business operations.

Redirecting Investments

In the days leading up to the verdict, Cardone had planned to invest a staggering $500 million in New York City. However, he has since redirected those funds to Florida, citing the state’s more favorable business climate. He criticized New York for what he sees as violations of the First Amendment, weaponization of the legal system, and an overall unfriendly atmosphere for property owners. "Crime is out of control," he added, urging New Yorkers to take action against those in power to preserve the integrity of their state.

Conclusion

Grant Cardone’s decision to withdraw from New York City real estate is a significant statement that underscores the growing concerns among investors regarding the city’s business environment. As the legal and political landscape continues to evolve, Cardone’s remarks serve as a rallying cry for those who feel that New York is losing its appeal as a prime investment destination. Whether this trend will continue remains to be seen, but for now, Cardone’s stance highlights a pivotal moment in the ongoing dialogue about the future of real estate in one of the world’s most iconic cities.

Subscribe

Related articles