Tax the Rich | The NY–Florida Complex
April 30, 2026
Hello,
For Ken Griffin’s record-breaking $238M purchase of the penthouse at 220 Central Park South, New York
City and state collected over $12M in mansion and transfer taxes, and they are still collecting an annual real
estate tax of $841,000.
I imagine that the mayor should have sent Ken Griffin a bottle of good wine and a personalized greeting card
instead of filming himself in front of Griffin’s building announcing that he will "tax the rich." How will you
tax the rich if you no longer have the rich to tax?
They may go down to Florida where, in contrast to NY, the talk of the day is about abolishing the real estate
tax. They also don’t pay city or state income tax.
The newly proposed pied-à-terre tax by the mayor is another quick fix—easier than cutting spending—but taxing
the taxpayer more and more cannot go on indefinitely.
This month, we are featuring Naftali Group’s upcoming Ft. Lauderdale Viceroy Condo, which I toured last
week, where the emphasis is on lifestyle in a town that has a special charm.
Wishing you a great spring season.
Ariel
