Finding Crypto Millionaires in New York Just Got Easier

New York City just published a list of 31,000 homes. It names the streets, the buildings, and the apartment numbers. Crypto founders say it is a map to rich people's front doors.

The city released the file on July 24. It exists to find second homes that owe a new tax. Officials expected about 10,000 properties. They got three times that.

What New York City Actually Published

The tax started July 1. It targets homes that are not where the owner actually lives.

A condo or co-op lands on the list at $1 million. A house has to be worth $5 million.

That $1 million line matters. It is why the roll holds 24,700 apartments but only 6,800 houses.

State law told the city to name every property that "may be subject" to the tax. It also told the city to identify co-op apartments by street address and unit number.

So the file does not just flag a building. It flags the apartment.

Ben Williams is a property tax lawyer at Rosenberg & Estis. He testified at the city's hearing on the rules. He told Bloomberg the list is far too broad, and that many homes will come off it on appeal.

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