New York’s Mansion Tax Could Explain Blitz of Big-Ticket Sales

Under New York’s new tax law, Jeff Bezos would have paid about $3 million in mansion taxes on his Fifth Avenue purchase, up from $800,000 under the current rules

A change in New York state law could be a motivating factor behind a recent flurry of enormous real-estate transactions in Manhattan.

Some of the biggest so far this year: Hedge funder Ken Griffin’s purchase of a roughly $238 million penthouse at 220 Central Park South, Amazon CEO Jeff Bezos’ roughly $80 million buy at 212 Fifth Avenue, seen above, and financier John Griffin’s $77.1 million purchase on the Upper East Side, which set a record for a New York townhouse.

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