NYC Brownstone Seller Closing Cost Calculator

NYC Seller Closing Costs Explained

When you sell, closing costs come out of your sale proceeds. Beyond broker commission, sellers typically pay NYC and New York State transfer taxes, seller's attorney fees, any building flip tax, move-out fees, and loan payoff / recording items if a mortgage is being satisfied.

Broker Commission

The typical NYC brokerage commission is about 5%–6% of the sale price and is usually split between the listing agent and the buyer's agent. Sellers generally sign an exclusive listing that sets a fixed commission at closing. Buyer agents represent a large share of NYC purchasers, so the buyer-side offer in the MLS can influence showing activity—discuss strategy with your listing agent rather than cutting blindly.

NYC Transfer Tax

NYC transfer tax is typically 1% on sales under $500k and 1.425% on sales of $500k or more. Higher rates can apply to commercial deals and multifamily buildings with 4+ units. Together with New York State transfer tax, combined city + state transfer taxes are usually the second-largest seller cost after commission.

New York State Transfer Tax

NYS transfer tax is generally 0.4% below $3 million and 0.65% at $3 million or more (the higher rate can kick in at $2 million for commercial / 4+ unit residential). Before the 2019 tax law changes, NYS transfer tax was a flat 0.4%. Combined NYC + NYS transfer taxes commonly fall in the 1.4%–2.075% range depending on price and property type.

Seller's Attorney Fee

Expect about $3,000–$4,000 for a typical sale, and up to ~$5,000 for complex or new construction matters. Fees are usually collected at closing and appear on the closing statement.

Co-op Flip Tax

Many co-ops charge sellers a flip tax—sometimes a percentage of the sale price, sometimes a percentage of profit, and sometimes a dollar amount per share. Confirm the building's formula early; it can materially change your net. Condos rarely charge a flip tax of this type.

Move-Out Fees, Managing Agent & Loan Payoff

Buildings often charge a refundable move-out deposit and a non-refundable move-out fee (sometimes waived if the unit is already vacant). Managing agents may also charge a closing / transfer fee when processing the board package or closing. If you have a mortgage, budget for bank loan satisfaction and recording fees—usually small fixed amounts—and deed / ACRIS filing fees on transferable properties.

Ways to Protect Your Net Proceeds

• Price and commission strategy—negotiate listing terms thoughtfully; buyer-agent compensation still affects market exposure.
• Know the flip tax early if you own a co-op so net proceeds are realistic before you list.
• Purchase CEMA—when selling a financed condo or house, a CEMA with a financing buyer can sometimes reduce the buyer's Mortgage Recording Tax and improve deal economics.
• Investors: ask your tax counsel whether a 1031 exchange (like-kind exchange) is appropriate to defer capital gains—this calculator does not model tax on gain.

Seller Closing Cost FAQ

Estimates only. Transfer taxes, flip taxes, commissions, and building fees vary by property and contract. Confirm numbers with your attorney and listing agreement before you rely on a net sheet.