Airbnb CEO says will keep investing in New York despite Mamdani's rent freeze plan
Airbnb and Anthropic are expanding their presence in New York City despite concerns over local business policies and rent control proposals. Both companies have committed to significant real estate investments, signaling confidence in the city as a hub for their respective industries.
Why it matters
These investments serve as a counter-narrative to claims that restrictive local policies are driving major tech companies out of New York.
New York City's business climate under Mayor Zohran Mamdani remains under scrutiny amid scrutiny of several billionaires. Yet, Airbnb has reportedly reaffirmed its commitment to the city by purchasing a six-storey building at 281 Park Avenue South in Manhattan’s Gramercy neighbourhood for $81.5 million. A New York Post report claims that the 42,500-square-foot Beaux-Arts building will serve as a hub for its New York-area workforce of more than 600 employees. This move by Airbnb comes even as several prominent business leaders have warned that companies and high-income taxpayers could expand elsewhere in response to Mamdani's policy proposals, which include a rent freeze for rent-stabilised apartments.In a statement to AM New York, Airbnb CEO Brian Chesky noted that the investment reflects the company's long-term plans for the city. He said, “New York City has been part of our story since the earliest days of Airbnb.
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