New York City’s Mayor Zohran Mamdani recently released a smug little video promoting New York State’s proposed new pied-a-terre tax, basically an extra (and steep) levy on expensive ($5 million and above) NYC property owned by people who do not live in the city (and thus make less use of its services, but never mind). In it, Mamdani pointed to an apartment bought by Ken Griffin for $238 million. Griffin, the founder and CEO of Citadel, used to live in Chicago, but, after things went downhill there, moved to Florida along with much of Citadel’s business operations.

Griffin has not abandoned Gotham, however. In fact, the opposite is true. He has that expensive apartment (on which the taxes must be immense), and Citadel has announced plans for a $6 billion new office building on Park Avenue (more property taxes!) in which it would be an investor and........

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