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News Wire / economy

New York City Approves $238 Million Skyscraper Project

WNYC 93.9 FM New York 15d15d Impact 6
New York City is set to break ground on a new skyscraper, with a project cost of $238 million. This development is being used by Mayor Adams as a demonstration of taxing the wealthy. Griffin, representing a company, sent an email to employees expressing dissatisfaction with being targeted, highlighting the company's economic contributions and existing tax payments.

Topics

real estate taxation economic policy

Developing

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Sources · 7 independent

WNYC 93.9 FM

“are building a new skyscraper. They're about to break ground on it. $238 million. So Mom Dany used as a backdrop to say, yes, we are taxing the rich. Like you said, it's not exactly what he wanted, which was an income tax hike on the wealthy, but this was something. Griffin saw that and then, you're right, sent that company-wide email or his company sent an email to everyone in the company saying, we don't like being targeted like this.”

WNYC 93.9 FM

“Apparently, Mayor Mamdani is taking it seriously enough that he softened his tone in some way according to Crane's. It's hard to imagine that a company would go through all of the planning and all of the approvals to build what would be a very lucrative building and then pull out because the head of the company feels slighted by the mayor, especially since this has already come up in the past.”

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