Grant Cardone Urges Investors to Exit New York, Invites Everyone to Arizona

Billionaire investor Kevin O’Leary is joined by private equity fund manager and real estate investor Grant Cardone in urging businesses to pack up and leave New York City amid the politicization of Judge Arthur Engoron of the judicial system on February 16.

The communist judge ordered former president Donald Trump to pay $355 million and blocked him from doing business in New York.

Cardone blasted, “If this ruling and the penalty do not get overturned, it could become a precedent that means all borrowers everywhere are at risk of the same thing happening to them.”

The real estate investor will be hosting the 10X Growth Conference 2024 in April.

Engoron’s verdict will threaten prospective investors from obtaining assets in the state, thus crushing New York City’s real estate market.

“Prices of properties will continue to fall in New York City as more and more institutions, investors, and pension funds refuse to invest there,” Cardone said.

“Investors and those investing on behalf of others have a fiduciary responsibility to invest in markets where you may assume that future values are going up, with some measure of confidence.”

Cardone also announced on X that he will be holding off his investments in NYC.

“Dear Cardone Capital team: Immediately discontinue ALL underwriting on New York City real estate.”

Cardone highlighted that this time the risk outweighs the opportunities.

“Recent political decisions will continue to deteriorate price and benefit states that don’t have these challenges.”

Cardone further said to avoid investing in any sanctuary cities.

“Avoid investing in all sanctuary cities including New York City, Chicago, Seattle, Los Angeles, San Francisco, and San Jose.”

“Until such time as the politicians value the property owner rights as well as residents’ rights, it is not worth the investment risk.”

In an interview with GOBankingRates, he urged entrepreneurs to invest in Florida, Texas, and Arizona.

“Invest in red states, or even outside the country. That ruling would never happen in the Middle East.”

Cardone told Fox News on Wednesday when Engoron issued his ruling, “it was like, ‘Pencils down. Don’t touch it. Don’t go there.’”

“We invest for 14,000 investors at Cardone Capital that depend on cash flow,” Cardone said.

“And 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.”

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