CLOSING COST estimates FOR SELLERS

CONDOMINIUMS/TOWNHOUSES

Broker Commission: Typically 6% of the sale price

Seller's Attorney: $2,500± (Please consult your attorney for exact figure)

Managing Agent Fee: $450-$1,000

NY City Property Transfer Tax (Residential):
Sale Price LESS than $500,000 = 1% of the sales price
Sale Price GREATER than $500,000 = 1.425% of the sale price

NY City Property Transfer Tax (Commercial of Bulk Sale):
Sale Price LESS than $500,000 = 1.425% of the sales price
Sale Price GREATER than $500,000 = 2.625% of the sale price

NY State Property Transfer Tax: $4 per $1,000 of price (0.4% of the sale price)

NY State Property Transfer Tax Filing Fee: $50-$165

Pick-up Fee for Mortgage Pay-Off (**): $175-$500 (**)

Non-US Resident Federal Withholding Tax (FIRPTA): 10% of the Sale Price

Misc. Condominium Charges: Varies by building (move-out deposit, delivery fees, etc..)

COOPERATIVES

Broker Commission: Typically 6% of the sale price

Seller's Attorney: $2,500± (Please consult your attorney for exact figure)

Cooperative's Attorney: $450+ (Please consult building management for exact figure)

Stock Transfer Tax: $0.05 per share

Managing Agent Fee: $450-$1,000

Flip Tax: Typically 1-3% of the sale price (Please consult building management)

NY City Property Transfer Tax (Residential): 
Sale Price LESS than $500,000 = 1% of the sales price
Sale Price GREATER than $500,000 = 1.425% of the sale price

NY City Property Transfer Tax (Commercial of Bulk Sale):
Sale Price LESS than $500,000 = 1.425% of the sales price
Sale Price GREATER than $500,000 = 2.625% of the sale price

NY State Property Transfer Tax: $4 per $1,000 of price (0.4% of the sale price)

NY State Property Transfer Tax Filing Fee: $50-$165

Pick-up Fee for Mortgage Pay-Off (**): $175-$500 (**)

Non-US Resident Federal Withholding Tax (FIRPTA): 10% of the Sale Price