Closing Costs for Sellers

Estimated Closing Costs for:

 

Condominium & Townhouse Sellers

  • Broker: Typically 6%
  • Seller’s attorney (negotiated flat rate) $2,500±
  • NY City Transfer Tax: 1% of sales price for sales of $500,000; or less 1.425% for sales in excess of $500,000
  • NY State Transfer Tax: $2 per $500 (or 0.4% of sales price)
  • Miscellaneous title company fees (if seller has mortgage): $450±
  • Move-out deposit or fees (condo): $1,000 (varies)
  • Managing agent fees (condo): $500±

These figures are presented as a general guideline only. Actual closings costs will vary for every transaction. Before signing any contract, sellers should have all closing costs explained to them by their attorney.

 

Co-Operative Sellers

  • Broker: Typically 6%
  • Seller’s attorney (negotiated flat rate): $2,500±
  • NY City Transfer Tax: 1% of sales price for sales of $500,000; or less 1.425% for sales in excess of $500,000
  • NY State Transfer Tax: $2 per $500 (or 0.4% of sales price)
  • Flip tax (if any)*: Often 2-3%, consult managing agent
  • Managing agent fee: $600±
  • Stock Transfer Tax: $0.05 per share
  • Move-out deposit or fees: $1,000 (varies)
  • Payoff bank attorney (if seller has mortgage): $500±
  • UCC-3 filing (if seller has mortgage): Up to $100 per loan

*Flip taxes vary on amount and by whom they are payable (buyer or seller)

These figures are presented as a general guideline only. Actual closings costs will vary for every transaction. Before signing any contract, sellers should have all closing costs explained to them by their attorney.

 

Carlton Residential

RECENTLY SOLD

155 Perry Street, Apt 5B - $2.65mil
100 West 58th St, Apt 8H - $995k
120 Greenwich St, Apt 9C - $920k
88 Greenwich St, Apt 907 - $950k
71 Nassau St, PHA - $2.5mil

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