{"id":784065,"date":"2026-05-09T10:45:27","date_gmt":"2026-05-09T10:45:27","guid":{"rendered":"https:\/\/www.europesays.com\/us\/784065\/"},"modified":"2026-05-09T10:45:27","modified_gmt":"2026-05-09T10:45:27","slug":"the-new-york-pied-a-terre-tax-has-billionaires-threatening-to-flee","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/784065\/","title":{"rendered":"The New York Pied-\u00e0-Terre Tax Has Billionaires Threatening to Flee"},"content":{"rendered":"<p>On April 15, Mayor Zohran Mamdani shot a video outside 220 Central Park South. The limestone tower is home to Ken Griffin\u2019s $238 million, 24,000-square-foot penthouse\u2014one of his several pricey city properties, and just a piece of the billionaire\u2019s wide-ranging real-estate portfolio. Standing across the street, Mamdani name-checked Griffin, then tapped the camera lens for emphasis before telling his 50 million viewers that he\u2019d campaigned on a promise to tax the rich and that, \u201ctoday, we\u2019re taxing the rich.\u201d Specifically, he said, \u201cthe richest of the rich \u2026 those who store their wealth in <a href=\"https:\/\/airmail.news\/arts-intel\/cities\/new-york\" target=\"_blank\" rel=\"nofollow noopener\">New York City<\/a> real estate but don\u2019t actually live here.\u201d With a snarky lilt, he added, \u201cHappy Tax Day, New York!\u201d<\/p>\n<p>The video was part of Mamdani\u2019s social-media promotion of New York governor Kathy Hochul\u2019s proposed tax on luxury pieds-\u00e0-terre. Though details will still have to be worked out, and loopholes will likely remain, the tax targets second (and third and fourth) residences worth more than $5 million, in an attempt to shrink the city\u2019s $5 billion budget deficit.<\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"img-small\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2025\/07\/air-mail.png\"\/><\/p>\n<p>      Enter your e-mail to read the full story for free<br \/>and to receive our weekly e-mail newsletter<\/p>\n<p class=\"mt-5 text-center text-md\" data-paywall-capture-target=\"intro\">\n    <a href=\"https:\/\/airmail.news\/subscribe?from=vmhO4K\" data-turbo=\"false\" rel=\"nofollow noopener\" target=\"_blank\">Subscribe to AIR MAIL<\/a> for full access.\n  <\/p>\n<p class=\"mt-5 mb-0 article-card-text text-center\" data-paywall-capture-target=\"existing\">\n    Already a subscriber? <a href=\"https:\/\/airmail.news\/subscription\/sign-in?from=vmhO4K\" rel=\"nofollow noopener\" target=\"_blank\">Sign in here<\/a>\n  <\/p>\n","protected":false},"excerpt":{"rendered":"On April 15, Mayor Zohran Mamdani shot a video outside 220 Central Park South. The limestone tower is&hellip;\n","protected":false},"author":3,"featured_media":784066,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[5122],"tags":[320723,5229,94865,320724,320725,320726,320727,320728,320729,320730,320731,320732,192953,5371,104760,320733,320734,320735,128431,320736,405,403,320737,320738,8989,320739,5226,5225,320740,5228,5227,166982,320741,23099,320742,296504,67,586,132,5230,26318,68,2969,5301],"class_list":["post-784065","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-220-central-park-south","tag-america","tag-bergdorf-goodman","tag-billionaires-new-york","tag-congestion-pricing-nyc","tag-donna-olshan","tag-florida-tax-migration","tag-franois-mitterrand","tag-gene-pressman","tag-jacques-chirac","tag-jeremy-hu","tag-jonathan-farkas","tag-jonathan-miller","tag-kathy-hochul","tag-ken-griffin","tag-leven-real-estate","tag-luxury-condos-nyc","tag-luxury-housing-market","tag-manhattan-real-estate","tag-michael-gross","tag-new-york","tag-new-york-city","tag-new-york-luxury-real-estate","tag-new-york-pied-terre-tax","tag-new-york-politics","tag-new-york-taxes","tag-newyork","tag-newyorkcity","tag-nikki-field","tag-ny","tag-nyc","tag-palm-beach","tag-palm-beach-socialites","tag-park-avenue","tag-second-homes-new-york","tag-sothebys-international-realty","tag-united-states","tag-united-states-of-america","tag-unitedstates","tag-unitedstatesofamerica","tag-upper-east-side","tag-us","tag-usa","tag-zohran-mamdani"],"share_on_mastodon":{"url":"","error":"Validation failed: Text character limit of 500 exceeded"},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/784065","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=784065"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/784065\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/784066"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=784065"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=784065"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=784065"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}