What does it actually cost to sell an apartment in New York City?

The costs, line by line

• Commission. Agreed with you before you list. It's the biggest number, so ask exactly what it pays for.
• NYC transfer tax. 1% of the price up to $500,000, 1.425% above $500,000. The seller pays it in almost every resale.
• NYS transfer tax. 0.4%, rising to 0.65% on New York City homes of $3 million and up.
• Flip tax. Some co-ops charge one on every sale, often 1–3% of the price. Check your proprietary lease before you price.
• Building and closing fees. Managing agent fees, move-out deposits, payoff of your mortgage and, for co-ops, a lien search.
• Your lawyer. Usually a flat fee. With NextGen, it's covered.
• Your move. Movers, packing, storage. With NextGen, we cover 20–50%.

A worked example

On a $2,000,000 condo, transfer taxes alone come to $36,500: $28,500 to the city and $8,000 to the state. Add commission, building fees and your mortgage payoff, and you can see why sellers who only look at the headline price get surprised at closing.

That's why every private valuation we send shows two numbers: what your home should sell for, and what you walk away with.

The mansion tax is not yours

On homes of $1 million and up, the mansion tax is paid by the buyer, not the seller. Some new-development sales also shift transfer taxes to the buyer.

How I'd think about it

Costs are fixed. Price isn't. The fastest way to keep more is to sell for more, and that comes from reach: the right film, the right buyers, and a private window before your home ever hits StreetEasy. 17% of our listings sell right there.

Figures are a general guide, not tax or legal advice. Your lawyer confirms the exact numbers for your sale.