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Meanwhile, popular destinations in Florida are thriving, with office vacancy rates remaining under the national average of 12.2 percent, according to the (NAR). 

West Palm Beach has a vacancy rate of nearly nine percent for corporate buildings and Miami has a rate of 10 percent, according to NAR. 

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Is New York in decline?

Despite all that, Ross said: ‘New York will continue to grow.

‘But it has its challenges, and a lot of people who don’t have to be there are looking not to be there,’ he continued. ‘It’s changing, it’s getting younger, the older people are moving out, the wealthier people are moving out.’ 

However, he said the younger crowd would still be attracted to the bright lights of New York City and that his development team would continue to have ‘huge investments’ in the Big Apple. 

‘But I think Florida is going to capture an awful lot of people,’ he said.  

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