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🇺🇸 Ken Griffin stays in New York after all despite feud with Mayor Mamdani over pied-à-terre taxKen Griffin and New York...
06/08/2026

🇺🇸 Ken Griffin stays in New York after all despite feud with Mayor Mamdani over pied-à-terre tax

Ken Griffin and New York Mayor Zohran Mamdani have been in a very public feud. But Citadel isn't leaving New York.

Citadel will remain a 60% partner in the $6 billion 350 Park Avenue redevelopment, Vornado CEO Steven Roth confirmed on an earnings call. Citadel is also expected to anchor the project as a 1-million-square-foot tenant.

The feud began in April when Mamdani announced a pied-à-terre tax on secondary homes valued over $5 million. He filmed the announcement outside Griffin's $238 million Manhattan penthouse, calling him out by name. Griffin called the stunt "creepy" and "frightening." His COO threatened the company's involvement in the skyscraper. Roth called the video "ugly and unnecessary."

But after months of public back-and-forth, Griffin is still building in New York.

"It's not always that easy just to give up New York City, especially if your family's there, if your business is there," said Nick Montorio, partner at EisnerAmper. "The benefits of being around New York City for most of our clients and those businesses usually outweigh the negatives."

Griffin said previously he believes New York City will be Citadel's long-term home. "Citadel will be a principal player in financial services for far longer than [the mayor] will be mayor," he said. "We intend to be here for decades."

Mamdani himself acknowledged the economic reality. "I want New Yorkers to succeed," he said. "I want them to build businesses, to grow our economy, and to create good-paying jobs, and Ken Griffin has been a part of that."

From where I sit, the feud was noise. The economics of New York – $6.3 billion in venture funding, 55,000 new private-sector jobs – are the real signal. Even billionaires find that hard to leave.

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