Trending Now - Mamdani Sparks Controversy With Video Near Griffin's Mansion

WHO:

Fox News - NYC Mayor Zohran Mamdani

Yahoo Finance Singapore - Billionaire financier Ken Griffin

Yahoo Finance Singapore - Jared Walczak, Senior Fellow at the Tax Foundation

Yahoo Finance Singapore - Moses Gates, vice president for housing and neighborhood planning at the Regional Plan Association

WHAT:

Fox News - Mamdani faced backlash over a video filmed outside Griffin's home.

Yahoo Finance Singapore - Mamdani announced a plan to tax luxury second homes in New York City.

Yahoo Finance Singapore - The proposed pied-à-terre tax targets second homes of the city’s wealthiest.

Yahoo Finance Singapore - Griffin's penthouse is valued at $238 million and is the most expensive home ever sold in the United States.

Yahoo Finance Singapore - The city values Griffin's penthouse at just $9.4 million for tax purposes.

WHERE:

Yahoo Finance Singapore - The video was filmed outside Ken Griffin's penthouse at 220 Central Park South, Manhattan, New York City.

WHEN:

Yahoo Finance Singapore - The video was filmed on Tax Day.

WHY:

Yahoo Finance Singapore - Mamdani's plan aims to address what he describes as a "fundamentally unfair system" that allows the wealthy to store wealth in empty homes.

Yahoo Finance Singapore - Griffin expressed that New York "doesn’t welcome success" under Mamdani's leadership.

HOW:

Yahoo Finance Singapore - The pied-à-terre tax is intended to raise funds for the city and encourage primary residency in New York City.

Yahoo Finance Singapore - New York City’s tax system assesses luxury condos based on hypothetical rental income, undervaluing their actual sales value.

(UPDATED May 8, 2026 07:32 UTC)

New York City Mayor Zohran Mamdani is facing backlash after a video filmed outside billionaire financier Ken Griffin's penthouse, which is valued at an astonishing $238 million, the most expensive home ever sold in the U.S. In response to what he calls a "fundamentally unfair system," Mamdani has announced a plan to implement a pied-à-terre tax targeting luxury second homes owned by the city's wealthiest residents, aiming to raise funds for the city and promote primary residency. Griffin, however, has criticized the city's approach, stating that under Mamdani's leadership, New York "doesn’t welcome success," as the current tax system undervalues luxury condos based on hypothetical rental income.