How much Ken Griffin will pay under Mamdani's pied-à-terre tax

New York officials rolled out details of the city's new pied-à-terre tax, which will affect an estimated 10,000 properties and has put Ken Griffin at the center of the debate after Mayor Zohran Mamdani called him out by name. Griffin, who lives full-time in Miami, owns three New York apartments: a Central Park South penthouse he bought for $240 million in 2019 and two units at 740 Park Avenue that he purchased for a total of $83 million over the past year and a half.

Using the tax provisions in the State budget, public real-estate records, and building documents, Griffin's bill is estimated to rise by about $1.3 million to $1.4 million next year. His Central Park South unit had a market value of $15.55 million last year, and his Park Avenue units have a combined market value around $6.2 million based on his ownership stake in the co-op shares.

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