Seller's Closing Costs


6% of sales price

$2,250 - $3,000

$500 - $1,000

$250 - $1,000

Broker's COmmission

Attorney's Fees

Move-out deposit (refundable)

Move-out fee (non-Refundable)
 

New York City Real Property Transfer Tax

1% of sales price if sale is $500,000 or less
1.425% of sales price if sale is greater than $500,000

If two or more unattached units are sold simultaneously to the same buyer, the commercial transfer tax rate applies, i.e., 1.425% of sales price if sale is $500,000 or less or 2.625% of sales price if greater than $500,000

Residential Transactions



Commercial/Bulk Sale Rates

 

 

 

0.4% of sales price

8.97% of estimated gain paid at closing unless (i) Seller is a NY State resident at time of sale or (ii) Property was Seller's principal residence for 2 out of the last 5 years or (iii) Seller has set up a 1031 Tax-Deferred Exchange

New York State Transfer Tax

New York State Estimated Capital Gains Tax

 

 

 

10% of purchase price is withheld if Seller is a non-exempt foreigner

FEDERAL WITHHOLDING TAX (FIRPTA)

 

COOPERATIVE APARTMENT Sales ONLY

Varies per building
$.05 per share
$500 - $750
$100
$375 - $500
$75 - $125

Flip Tax (if applicable)
Stock Transfer Tax Stamps
Transfer Agent Fee or Co-op Attorney's Fee
New York City Transfer Tax Filing Fee
Payoff Bank Attorney's Fee
UCC-3 Filing Fee

 

 

COndominium APARTMENT Sales ONLY

$500-$1,000
$100 per mortgage
$250 per mortgage

Application/Waiver Fee
Satisfaction of Mortgage Recording Fee
Title Closer Pick-Up Fee for Mortgage Payoff