Ken Griffin is reconsidering a Manhattan development worth over $6 billion after NYC mayor’s pied‑à‑terre tax video.
Mayor Zohran Mamdani announced the new annual luxury‑property tax targeting owners of units over $5 million who are not full‑time residents.
Griffin’s COO Gerald Beeson warned the targeting could derail the 350 Park Avenue redevelopment, which would create 6,000 construction and 15,000 permanent jobs.
Griffin bought the Central Park South penthouse for about $238 million in 2019, now cited as example of the tax’s impact.