Thursday 8 September 2022 11:04 PM Wealthy New Yorkers with plans to move to Palm Beach are hesitant due to ... trends now
Wall Street titans fleeing to Florida are putting their migration plans and real estate deals on hold due to a lack of private school openings in Palm Beach.
Since the start of the pandemic, thousands of New Yorkers have traded bleak winters for the Sunshine State, but some of the wealthiest among them are running into a significant supply issue - a lack of private schools that rival the elite education their children have been receiving in the Big Apple.
As a result, some real estate agents are losing out on big pay days as they see home buyers who haven't secured a spot for their children delay the sale process.
Currently, the average price of a single-family Palm Beach home is $16 million.
Oxbridge Academy in Palm Beach, Florida where Donald Trump's son Barron attends. Enrollment has ballooned over the last several years and there are now waitlists for most grades
At the Oxbridge Academy in Palm Springs - where former first-son Barron Trump attends high school - spokesman Scott Siegfried told DailyMail.com that the school has a waitlist for most grades.
The conversation with parents about securing a spot at the prestigious prep school founded in 2011 by billionaire Bill Koch happens 'quite often,' he told DailyMail.com.
Enrollment numbers at Oxbridge have jumped from 510 to 562 in the last year alone, and a 'strong applicant pool' is expected for the coming cycle. Tuition at the academy is $35,000.
About 10,000 people moved to Palm Beach between 2020 and 2021, according to the U.S. Census, with more streaming in through 2022.
The Benjamin School in Palm Beach, Florida, where there is currently a years-long waitlist for parents hoping to send their children
