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NYC Mayor Proposes $5M Luxury Second-Home Tax, Griffin Reacts

7/22/2026

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Summary

Story summary

Mayor Zohran Mamdani announced a “pied-à-terre” tax on luxury second homes over $5 million.
He cited hedge-fund manager Ken Griffin’s $238 million penthouse as an example.
Griffin called the mayor’s video “inappropriate,” “creepy,” and “frightening,” saying it put him and a citizen “in harm’s way.”
New York City paid $2.6 billion in cash assistance to 864,999 residents in 2025, a 71 % increase from 2022.

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Story summary

Mayor Zohran Mamdani announced a “pied-à-terre” tax on luxury second homes over $5 million.
He cited hedge-fund manager Ken Griffin’s $238 million penthouse as an example.
Griffin called the mayor’s video “inappropriate,” “creepy,” and “frightening,” saying it put him and a citizen “in harm’s way.”
New York City paid $2.6 billion in cash assistance to 864,999 residents in 2025, a 71 % increase from 2022.