As billionaires warn of exits, Airbnb buys New York building for $81.5 mn

New York City is facing warnings from some billionaires that Mayor Zohran Mamdani’s progressive policies could push businesses, wealthy people and investment out of the city. But Airbnb is making a very different move. The company recently bought a six-story building at 281 Park Avenue South in Manhattan for $81.5 million, according to The Wall Street Journal. The property is expected to become a major hub for Airbnb’s New York-area employees. The deal comes even as some of the city’s richest residents and business leaders have warned about the impact of higher taxes, housing policies and other changes under Mamdani. The Airbnb purchase therefore stands out as a major bet on New York.Airbnb buys Park Avenue building for $81.5 millionAs per the WSJ report, Airbnb has purchased 281 Park Avenue South, a six-story building in Manhattan’s Gramercy neighbourhood, for $81.5 million.