After months of a public back and forth over Mamdani’s pied-a-terre tax, Ken Griffin isn’t ready to give up on New York after all

After months of public dispute between Citadel CEO Ken Griffin and New York City Mayor Zohran Mamdani over a pied-a-terre tax, Citadel remains committed to its $238 million Manhattan skyscraper. Despite Mamdani's April announcement of the tax on secondary homes valued above $5 million, which Griffin dubbed a "creepy" and "frightening" publicity stunt, the two heavyweights have decided to continue their partnership.

Citadel will remain a "60% partner" in the redevelopment of 350 Park Avenue, creating 6,000 construction jobs and supporting over 15,000 permanent ones. The decision to stay in New York City, despite the ongoing feud, highlights the city's continued economic importance and the difficulty of leaving such a lucrative market, even for the wealthiest individuals.