The tax exodus from Connecticut continues as Hotelier and Financier Barry Sternlicht has officially become a Florida residant as of July 1 in order to save more in taxes. He made the announcement in a September CNBC Institutional Investor Delivering Alpha Conference as reported by Reuters. It appears he will build a home at a lot purchased by an entity controlled by Sternlicht last year at 2374 N Bay Road for $17 million. Kobi Karp has previously designed submitted approved designs for the property. Sternlicht joins other billionaire hedge funders David Tepper and Edward Lampert who have also sought to make South Florida their home and tax haven. Sternlicht is the chairman and CEO of Starwood Capital Group and the chairman of Starwood Property Trust, the largest commercial mortgage REIT in the U.S. He was previously founder and CEO of Starwood Hotels and Resorts Worldwide from 1995 to 2005.
