04/29/2026
Pierre Debbas appeared on “The Brian Kilmeade Show” discussing NYC’s proposed pied-à-terre tax, a levy on second homes over $5M that he argues is more symbolic than substantive, projecting ~$500M in revenue against a multi-billion-dollar budget gap.
He warned that while framed as a “tax on the rich,” the policy could deter long-term investment and reduce broader economic activity, outweighing its intended benefit.
Pierre additionally highlighted the risk of driving away major economic contributors, including billionaire Ken Griffin and firms like Citadel, which is advancing an anticipated $6B Manhattan office tower development—underscoring the importance of policies that support, rather than discourage, growth and investment in NYC.