The number of homes in New York that are not primary residences has increased from 55,000 in 2014 to 75,000 in 2017, a recent survey found
Central Park South is one of New York City’s swankier addresses. Its amenities include a golf simulation room and a saltwater swimming pool. In January Ken Griffin, the founder of Citadel, a hedge fund, bought a penthouse in the building for $238m, setting a record for the priciest home in America. Mr Griffin, who has homes in Chicago, Florida and London, reportedly will not make this his primary residence, thus reigniting an old proposal to tax New York City’s many pieds-à-terre.
Over the past few years New York has seen a lot of high-end property development, as new skinny towers have changed the city skyline. The most recent Housing and Vacancy Survey found that the number of non-primary residences increased from 55,000 in 2014 to 75,000 in 2017.
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