NYC Seller Closing Costs: What You'll Pay to Sell
Every cost of selling in NYC: commission, NYC and NYS transfer taxes, flip tax, attorney, payoff and building fees, with net proceeds for a co-op and a condo.
8 min read · Updated
Selling a home in New York City usually costs the seller the agent commission plus about 1.4% to 2.1% of the price in city and state transfer taxes, before attorney fees, any co-op flip tax and building charges. The transfer taxes are fixed by law; almost everything else is negotiable or set by your building, so the total varies widely from sale to sale.
The range is simple arithmetic: the NYC Real Property Transfer Tax (1% or 1.425%) plus the New York State transfer tax (0.4%, or 0.65% for NYC homes at $3 million or more). That is 1.4% at $500,000 or less, 1.825% from just over $500,000 up to $3 million, and 2.075% at $3 million or more. Below is every line item, how it is calculated, and two worked examples.
At a glance
- NYC RPTT, price ≤ $500,000
- 1%
- 1-3 family house, condo unit or co-op apartment
- NYC RPTT, price > $500,000
- 1.425%
- Of the whole price, not just the part above $500k
- NYS transfer tax
- 0.4%
- $2 per $500; 0.65% for NYC residential at $3M+
- Mansion tax
- Buyer pays
- 1% at $1M+, plus NYC supplemental tax at $2M+
Transfer taxes the seller pays
NYC Real Property Transfer Tax (RPTT)
The Department of Finance taxes sales of 1-3 family houses, individual condo units and individual co-op apartments at 1% of the price when it is $500,000 or less and 1.425% when it is more. DOF says the seller (grantor) is normally liable; the buyer becomes liable only if the seller is exempt or fails to pay. The return must be filed and the tax paid within 30 days of the transfer, which in practice means at closing. For these property types, a mortgage or lien that existed before the sale and stays on the property is not counted in the price, so a co-op's underlying building mortgage does not raise your RPTT.
New York State real estate transfer tax
The state tax is $2 for each $500 of consideration (0.4%), paid by the seller; the buyer becomes liable only if the seller is exempt or fails to pay. In NYC, residential sales at $3 million or more owe an additional $1.25 per $500, bringing the state rate to 0.65%. The 1% mansion tax and NYC's supplemental tax at $2 million and up are owed by the buyer, though the seller can become liable if the buyer does not pay or is exempt. Check your total with the seller transfer tax calculator; more detail is in NYC and NYS transfer taxes explained.
Every seller cost, line by line
Tick each item as you get a quote or a payoff figure. Your progress stays in this browser.
NYC seller cost checklist
0/12How costs differ by property type
| Cost | Co-op | Condo | House |
|---|---|---|---|
| NYC RPTT and NYS transfer tax | Yes | Yes | Yes |
| Flip tax | If the co-op has one | Check the condo documents | No |
| Board or managing agent fees | Yes | Yes | No |
| Lien release | UCC-3 for share loan | Mortgage satisfaction | Mortgage satisfaction |
| Move-out deposit | Usually | Usually | No |
| Prorated charges | Maintenance | Common charges and taxes | Property tax and water |
Worked examples: net proceeds
These examples use the real tax rates. The commission, flip tax, attorney and building fees are assumptions chosen to show the math, not typical or recommended figures. Replace them with your own quotes.
| Line | $900k co-op | $1.5M condo |
|---|---|---|
| Sale price | $900,000 | $1,500,000 |
| Commission (assumed 5%) | −$45,000 | −$75,000 |
| NYC RPTT (1.425%) | −$12,825 | −$21,375 |
| NYS transfer tax (0.4%) | −$3,600 | −$6,000 |
| Flip tax (assumed 2% of price; co-op only) | −$18,000 | — |
| Attorney (assumed) | −$3,000 | −$3,000 |
| Building/managing agent fees (assumed) | −$1,000 | −$1,000 |
| Total selling costs | −$83,425 | −$106,375 |
| Proceeds before payoff | $816,575 | $1,393,625 |
| Loan payoff (assumed balance) | −$400,000 | −$700,000 |
| Cash to seller | $416,575 | $693,625 |
In these examples, selling costs come to about 9.3% of the co-op price and 7.1% of the condo price; the flip tax explains most of the gap. Transfer taxes alone are 1.825% in both cases because both prices are above $500,000 and below $3 million. Refundable move-out deposits and prorations are left out because they vary and some come back to you.
Run your own numbers
How much will I walk away with after selling in NYC?
Open full calculator →| Cost | Amount | % of price |
|---|---|---|
| Broker commission | $60,000 | 5.00% |
| NYC transfer tax (RPTT) | $17,100 | 1.43% |
| NYS transfer tax | $4,800 | 0.40% |
| Seller’s attorney | $3,000 | 0.25% |
| Condo managing agent / waiver fees | $750 | 0.06% |
| Payoff & mortgage satisfaction fees | $500 | 0.04% |
| Total selling costs | $86,150 | 7.18% |
Before income tax. Capital gains tax and, for nonresidents, NY estimated tax at closing are not included.
For co-ops, estimate the flip tax with the flip tax calculator and read co-op flip tax. For the commission line, see commissions after the NAR settlement. The whole selling process is in how to sell a home in NYC.
RPTT: 1% at $500,000 or less, 1.425% above for 1-3 family homes, condo units and co-op apartments; grantor normally liable; return due within 30 days; consideration for these property types excludes a pre-existing lien that stays on the property (DOF). NYS transfer tax $2 per $500 paid by the grantor, additional $1.25 per $500 for NYC residential at $3M+, mansion tax 1% paid by the buyer (DTF). Nonresident estimated tax rate 10.90% for 2026 (IT-2663/IT-2664). Pub 523: transfer taxes paid by the seller are selling expenses. Commission, flip tax, attorney and building fees in the worked examples are labeled assumptions, not typical rates. Fact-check 2026-10-12: all worked-example arithmetic re-computed; corrected the headline transfer-tax range from 1.4-1.8% to 1.4-2.1% (2.075% at $3M+); removed an unsourced "or the contract says otherwise" from the DTF liability rule and reworded the sponsor-sale note; removed unsourced flip-tax formula claims.
Sources
- Real Property Transfer Tax (RPTT) · NYC Department of Finance (accessed October 12, 2026)
- Statistical Profile of the NYC Real Property Transfer Tax, 2022 (liability, co-op coverage, existing-lien rule) · NYC Department of Finance (accessed October 12, 2026)
- Real estate transfer tax · NYS Department of Taxation and Finance (accessed October 12, 2026)
- Instructions for Form IT-2663 (2026) · NYS Department of Taxation and Finance (accessed October 12, 2026)
- Form IT-2664 (2026), Nonresident Cooperative Unit Estimated Income Tax Payment Form · NYS Department of Taxation and Finance (accessed October 12, 2026)
- Publication 523, Selling Your Home · IRS (accessed October 12, 2026)
- What the NAR settlement means for home buyers and sellers · National Association of Realtors (accessed October 12, 2026)
General information, not legal, tax or financial advice. Rules change; confirm with the agency or a professional before you act.