“People don’t flee the city simply because the taxes are gonna go up two percent,” he added.

Even if more people considered moving out of New York City, Olshan said, the reality is that it takes “a lot” for people to move in general.

“They have jobs, they have kids in school, they have families in the area, they have friends, and you just can’t decide to pick up and move on the prospect that the mayor is going to deteriorate the city,” she said. “So people have been buying and they will continue to buy in New York City. We’ll just have to wait and see how Mamdani governs in New York.”