Citadel Threatens to Halt $6B NYC Expansion After Mamdani Targets Griffin in Penthouse Tax Video

Citadel and Citadel Securities are reconsidering a planned $6B Midtown expansion at 350 Park Avenue after Mayor Mamdani filmed an April 15 Tax Day promotional video outside founder Ken Griffin's $238M penthouse at 220 Central Park South, calling Griffin out by name as the example for a proposed pied-à-terre surcharge. Citadel COO Gerald Beeson called the video "ignorance and disdain… shameful" in an internal Apr 23 memo. Griffin has directed approximately $650M in NYC philanthropy historically. Mamdani told reporters Apr 24 that "Mr. Griffin is welcome in New York City" and the tax targets behavior, not individuals. The pied-à-terre tax projects $500M/year in revenue.

• keptPied-à-terre tax on $5M+ second homes
• brokenCorporate tax hike ($1.75B/year)
• brokenDouble DCWP budget to $135M
• brokenIncrease Human Rights Commission funding to $21M

• Democratic Primary Final Stretch — Early Voting Runs Through Sun Jun 21, Election Day Tue Jun 23; Mamdani-Endorsed Slate (Lander NY-10, Valdez NY-7, Avila Chevalier NY-13) Faces First Big Test of Mayoral CoattailsNY1 | NBC News | PBS NewsHour | Washington Times | City & State NY · June 19, 2026
• Rockaway Residents Rally at City Hall Over Trauma Center FundingThe Wave · June 12, 2026