Estimate your total costs as a seller in New York City — including NYC transfer tax, NYS transfer tax, broker commissions, and your estimated net proceeds.
Enter your sale details below
For property in the five boroughs. Selling in Westchester or on Long Island? See outside-NYC costs below.
Estimates for general guidance only. Actual costs vary. Contact Agarunov Law for a personalized estimate.
Transfer taxes in New York are flat rates applied to the entire sale price, not marginal brackets. Crossing $500,000 moves the whole price to the higher NYC rate, and crossing $3 million moves the whole price to the higher state rate.
| Line item | How it is calculated | Notes |
|---|---|---|
| Broker commission | Sale price × the rate you enter (default 5%) | Negotiable; paid from the seller’s proceeds. |
| NYC transfer tax (RPTT) | 1% if $500,000 or less; 1.425% if over $500,000 | Applies to houses, condos and co-op shares. Commercial property is taxed at 1.425% / 2.625%. |
| NYS transfer tax | 0.4%; 0.65% for NYC residential sales of $3M+ | Filed with the NYS TP-584 return. |
| Co-op flip tax | 2% of price as a placeholder | Set by each building: a percentage of price, a per-share fee, or a share of profit. Check the proprietary lease or house rules. |
| Attorney fee | The amount you enter | Most seller representation is quoted as a flat fee. |
| Recording / misc. | $200 for condos and houses | Mortgage satisfaction and payoff-letter fees vary by lender. |
| Cost | Amount |
|---|---|
| Broker commission (5%) | $45,000 |
| NYC RPTT (1.425%) | $12,825 |
| NYS transfer tax (0.4%) | $3,600 |
| Attorney fee (example) | $1,500 |
| Recording / misc. | $200 |
| Total | $63,125 (7.0%) |
Sellers outside the five boroughs do not pay the NYC Real Property Transfer Tax, so this calculator’s NYC line does not apply. Subtract it, and use the figures below instead.
| Cost | Rate | Notes |
|---|---|---|
| NYS transfer tax | 0.4% of the price | Applies statewide. The extra 0.25% that brings the rate to 0.65% applies only to residential sales of $3 million or more inside NYC. |
| Local transfer tax | Varies | Most municipalities charge none. In Westchester, Yonkers charges 1.5% paid by the seller (co-op sales are exempt, and no tax is due on sales of $25,000 or less), and Mount Vernon charges 1% on sales above $100,000. Peekskill also imposes a local transfer tax; confirm the current rate with the city. |
| Peconic Bay Community Preservation Fund | 2% to 2.5% | Paid by the buyer in the five East End towns of Southampton, East Hampton, Southold, Riverhead and Shelter Island. Since April 2023 all but Riverhead add a 0.5% Community Housing Fund, making 2.5%. Exemption amounts reduce the taxable portion and differ by town. |
| Mansion tax | 1% flat | Paid by the buyer on residential purchases of $1 million or more. The higher NYC brackets do not apply outside NYC. |
| Broker commission, attorney fee, recording | Same as NYC | Negotiated the same way. |
For how the state and city taxes interact, see our NYC and NYS transfer tax guide and who pays closing costs in New York.
For a line-by-line breakdown of every cost, see our guide to NYC seller closing costs and the full NYC & NYS transfer tax guide.
Sources: NYC Real Property Transfer Tax, NYC Admin. Code §11-2102; NYS real estate transfer tax, Tax Law §1402(a)–(b).
Selling soon? A NYC real estate attorney prepares the transfer tax returns, confirms the flip tax with the managing agent and reviews your closing statement before any money moves.
Common questions about NYC seller closing costs
NYC seller closing costs typically range from 8% to 10% of the sale price. The largest costs are broker commissions (4-6%), NYC transfer tax (1%-1.425%), and NYS transfer tax (0.4%). Co-op sellers may also pay a flip tax of 1-3%.
NYC charges a Real Property Transfer Tax (RPTT) on residential sales, including co-op share transfers: 1% of the price if the price is $500,000 or less, and 1.425% if it is over $500,000. New York State adds 0.4% (0.65% on NYC residential sales of $3 million or more). Sellers pay both in a typical resale; in new-development sponsor sales the contract usually shifts them to the buyer.
No. The mansion tax is a buyer-side tax: 1% to 3.9% of the price on NYC residential purchases of $1 million or more. What changes for sellers at the high end is the state transfer tax, which rises from 0.4% to 0.65% on NYC residential sales of $3 million or more.
A flip tax is a transfer fee charged by co-op buildings when a unit is sold. It typically ranges from 1% to 3% of the sale price and is paid by the seller. The amount varies by building — always check your proprietary lease before listing your co-op apartment.
Multiply the full sale price by the applicable rate. For a residential sale, that is 1% (NYC) plus 0.4% (NYS) at $500,000 or less, 1.425% plus 0.4% above $500,000, and 1.425% plus 0.65% at $3 million or more. On a $1 million condo, combined transfer tax is $18,250.
Yes. Even though a co-op buyer acquires shares and a proprietary lease rather than a deed, both the NYC RPTT and the NYS transfer tax apply to the transfer of co-op shares at the same residential rates.
In most sponsor (new development) sales, the contract requires the buyer to pay the sponsor’s NYC and NYS transfer taxes. Because the buyer is paying a tax the seller would normally owe, the payment is itself treated as additional consideration, which slightly increases the tax.
It does not include your mortgage payoff balance unless you enter it, lender payoff fees, co-op managing agent and move-out fees, capital gains tax, non-resident or FIRPTA withholding, or negotiated seller credits. Use it for planning, then confirm figures with your attorney before you list.
No. The NYC Real Property Transfer Tax applies only within the five boroughs. Outside NYC sellers pay the 0.4% New York State transfer tax, plus a local transfer tax in the few municipalities that have one, such as Yonkers, Mount Vernon and Peekskill.
It is a Community Preservation Fund transfer tax in the five East End towns of Long Island: Southampton, East Hampton, Southold, Riverhead and Shelter Island. The rate is 2%, and since April 2023 every town except Riverhead adds a 0.5% Community Housing Fund on top, making 2.5%. Unlike most transfer taxes it is paid by the buyer, and exemption amounts reduce the taxable portion.