Billionaires might not mind the additional taxes.
If you make several hundred thousand a year, you might not notice $10 specialty coffee drinks at Starbucks.
If you make several hundred million a year, you might not notice $10 million real estate prices and the taxes that go with it.
My read is that billionaires own multiple homes around the country and the world.
With the assistance of skilled tax attorneys they can easily avoid paying New York City income taxes by staying in the city for short periods of time.