New York City passes pied-a-terre tax targeting luxury second homes; Ken Griffin's tax bill would more than triple
By
Robert Frank
3d ago· 2 min readenNews
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Summary
New York City has passed a pied-a-terre tax targeting luxury second homes, with Citadel CEO Ken Griffin becoming the face of the policy. Under the new tax, Griffin's Manhattan penthouse — purchased for $238 million but valued by the city at just $15.5 million — would see his property tax bill more than triple from $858,332 to over $1.87 million in the first two years. The tax was highlighted by Mayor Zohran Mamdani in a video posted outside Griffin's 24,000-square-foot penthouse at 220 Central Park South.
Key quotes
· 3 pulledUnder the new tax, Griffin — who is a tax resident of Florida — would see his Manhattan property tax bill more than triple, according to CNBC calculations.
Griffin's property tax bill for the 2026-2027 tax year is $858,332, according to city records.
In the first two years of the pied-a-terre tax, Griffin's property tax bill would more than double to $1.87 million, according to Pollack.
Citadel CEO Ken Griffin became the face of the tax after New York City Mayor Zohran Mamdani posted a video in front of Griffin's penthouse apartment.
