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NYC's Tallest Towers: Half Unsold Amid Tax Hike Plans

2/24/2026

26 5 Full Breakdown

Summary

Story summary

Nearly half of the apartments in New York's tallest residential towers, including Central Park Tower, remain unsold.
Many units are owned anonymously through shell companies and rarely inhabited.
Mayor Zohran Mamdani proposed a budget to address a $5.4 billion shortfall, including a 2% income tax for earners over $1 million.
The plan also considers a 9.5% property tax hike and could raise costs for renters.

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Story summary

Nearly half of the apartments in New York's tallest residential towers, including Central Park Tower, remain unsold.
Many units are owned anonymously through shell companies and rarely inhabited.
Mayor Zohran Mamdani proposed a budget to address a $5.4 billion shortfall, including a 2% income tax for earners over $1 million.
The plan also considers a 9.5% property tax hike and could raise costs for renters.