Julie Macklowe, a Manhattan socialite and entrepreneur, has found herself ostracized from her elite social circles after publicly supporting New York City Mayor Eric Adams' pied-à-terre tax policy. The tax targets second homes valued at $5 million or more, a move aligned with calls to increase taxes on the wealthy.
Macklowe, who has a significant property portfolio including a $20 million penthouse in Central Park and a $65 million home in Aspen, voiced her support for the policy in a May op-ed in The Wall Street Journal. She wrote, "I am done watching people otherwise identical to me enjoy this city free." Despite her own considerable wealth, Macklowe argued that the ultra-rich should contribute more, particularly those who own multiple residences and utilize tax loopholes.
Since publishing the op-ed, Macklowe, 48, has experienced social repercussions. She recounted to The Sunday Times instances where former friends ignored her at upscale venues. "They saw me and, like, kept walking," she said. Macklowe also revealed that some of her wealthy acquaintances employ tax-avoidance strategies, such as listing New York addresses as non-primary residences while paying taxes in states with lower rates like Florida. She claims these individuals spend substantial time in New York, attending events and benefiting from the city, yet pay minimal taxes there.
Macklowe stated that the backlash began shortly after her op-ed was published, with some close friends in Florida sending "very unfriendly texts." However, she noted that some individuals in her social circle secretly agree with her stance, with one woman at her Hamptons golf club reportedly whispering her support.
The idea for the op-ed reportedly originated during a dinner party hosted by former politician Andrew Stein. After a conversation about the pied-à-terre tax, James Taranto, an editor at The Wall Street Journal, suggested she write about her views for the publication. Macklowe submitted her draft the following morning.
Macklowe's public support for the tax has placed her at odds with some prominent figures in the financial world. Billionaire Ken Griffin, CEO of Citadel, previously threatened to withdraw from a Midtown construction project after Mayor Adams featured Griffin's home in a video advocating for the tax. Griffin subsequently announced plans to increase investments in Florida, citing the mayor's policy as a factor.
Despite being a Republican and a past supporter of Donald Trump, Macklowe maintains that her stance on taxation is not partisan. She told The New York Times, "This isn’t a Republican or a Democrat thing. It is that people are getting a free ride off those who choose to live here and be New Yorkers, and the others pop in and pretend they are New Yorkers but don’t actually pay any significant taxes."