• Brokerage commission
• Counsel fees (typically $2,000-3,000)
• Move out fees and deposits (approximately $1,000)
• Deed tax (coops also): $2 for every $500 of the price, or portion thereof
• NYS Estimated Capital Gain Withholding: 7.7% of the estimated gain withheld
  • Exemptions if
    • Seller is a New York State resident at time of sale or
    • Property was seller's principal residence for two of the last five years under Internal Revenue Code section 121 or
    • 1031 exchange
• Federal Withholding: Purchaser withholds 10% of the purchase price in escrow if seller is not an exempt individual ( most sales are exempt)
• New York City Real Property Transfer Tax - Residential
  • 1% of purchase price if sale is $500,000 or less
  • 1.425% of purchase price if sale is greater than $500,000
• New York City Real Property Transfer Tax - Commercial/Bulk Rate
  • Applies if tow or more units are conveyed from the same buyer to the same seller, and the units are not physically combined into a single unit (e.g. physically combined with single cooking facility and egress from one to the other without using common element)
  • 1.425% of the purchase price if the sale is $500,000 or less
  • 2.625% of the purchase price if the sale is greater than $500,000
• Coops only
  • Transfer agent fees (up to $1,000)
  • Flip tax (varies depending on building)
  • Payoff bank fees ($400 per payoff bank)
• Condominiums only
  • Waiver application fees (typically less than $1,000 but some buildings have "flip tax like" fees
  • Pickup fee to title closer ($200 per outstanding mortgage)
  • Filing fees (up to $500)

Courtesy of Jerry M. Feeney