FOR SELLER
| NYC Transfer Tax- Residential: | $500,000 or Below = 1% of purchase price Above $500,000 = 1.425% of purchase price |
| NYC Transfer Tax – Commercial: | $500,000 or Below = 1.425% of purchase price Above $500,000 = 2.625% of purchase price |
| NYC Administrative Fees: | Non-Deed Transfers = $100 |
| NYS Transfer Tax: | $3,000,000 or Below = $0.40% of purchase price Above $3,000,000 = $0.65% of purchase price |
| NYS Estimated Capital Gains Tax: | 8.82% of estimated gain at closing ONLY applies to Non-NYS resident seller at time of sale |
| Federal Withholding Tax (FIRPTA): | 10% of purchase price for non-exempt Foreign Seller |
| Payoff Attorney Fee: | $375-$500 (if applicable) |
| UCC 3 Termination Fee: | $75-$100 (if applicable) |
| Broker: | 6% of purchase price |
| Seller’s Attorney: | Varies. Consult your attorney. |
| Cooperative Fees: | $500-$1,000 refundable move out deposit $250-$750 non-refundable move out fee |
| Co-op Transfer Agent or Attorney: | $450-$850 |
| Flip Tax: | Typically 1%-3% of purchase price (if applicable) |
| Stock Transfer Tax: | $0.05 per share |
FOR BUYER
| Lien Search: | $350 |
| UCC 1 Filing Fee: | $75-$100 (if applicable) |
| Mansion Tax: | At least $1 million, but less than $2 million = 1.00% At least $2 million, but less than $3 million = 1.25% At least $3 million, but less than $5 million = 1.50% At least $5 million, but less than $10 million = 2.25% At least $10 million, but less than $15 million = 3.25% At least $15 million , but less than $20 million = 3.50% At least $20 million, but less than $25 million = 3.75% More than $25 million = 3.90% |
| Purchaser’s Attorney: | Varies. Consult your attorney. |
| Bank Attorney: | $850-$1,000 (if applicable) |
| Recognition Agreement Review Fee: | $150-$300 (if applicable) |
| Cooperative Fees: | $500-$1,000 refundable move in deposit $250-$750 non-refundable move in fee |
| Cooperative UCC Insurance: | Is available from several title companies – Price varies depending on purchase price but regulated by NYS. Best to use an online rate calculator from any reputable title company website. |
The costs shown are approximate and should be verified with your real estate attorney.
These costs also change from time to time.