After $238M condo sale, calls for pied-à-terre tax are renewed

By Amy Plitt

While absurdly pricey real estate deals are nothing new in New York City, the sale of a $238 million penthouse at 220 Central Park South—a figure that eclipsed the last record-breaking condo sale by a full $138 million—has, understandably, triggered a more heated response.

Hedge funder Ken Griffin, who owns pricey properties in several other cities, snagged the most expensive apartment in not just New York City, but the entire country—but he reportedly doesn’t even plan to use the home as his primary residence. A rep for Citadel, the firm Griffin founded, told the Wall Street Journal that he plans to use it as a place to stay “when he’s in town” (his primary residence is Illinois, where he recently paid $58.75 million for Chicago’s priciest home ever sold). They later clarified to the New York Times that Griffin will spend “considerable time” there, but whether it will become his primary residence is unclear.

As Gothamist reports, that revelation has prompted several elected officials to renew calls for the pied-à-terre tax, a version of which has been around for several years.

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