Manhattan luxury real estate market plummets after Mamdani pied-à-terre tax goes into effect

Housing And Homelessness,Housing Market,New York City,Zohran Mamdani,Democratic Socialism

Posted on AllSides July 14, 2026

New York Post (News)

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New York Post (News)

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Manhattan's luxury real estate market ground to a halt last week, with just one trophy home asking more than $10 million entering contract — as brokers told The Post that anti-wealth rhetoric from Mayor Zohran Mamdani and the controversial pied-à-terre tax are spooking affluent buyers.

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