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Manhattan Co-Op Closing Costs for Seller

New York State Law requires a written letter of engagement if the legal fee will exceed $3,000. Non New York State residents should procure exemption for state transfer tax forms (TP-584) . These are only estimates. Please confirm closing costs for specific transactions with your attorney and/or mortgage representative
Attorney $2,000 - $5,000*
Stock Transfer Stamps $.05 per share
NYC Real Property Transfer Tax Sales under $500,000 will be 1% of price and Sales over $500,000 will be 1.425%.
NY State Transfer Tax 0.4% of Purchase Price.
Flip Tax (if applicable) Determined by co-operative building
Payoff Bank Attorney (if applicable) $450 & up
Managing Agent Fee $500 - $750
Move-Out Deposit $500 - $1,000 usually refundable if there is no damage
Broker Commission 6% of Purchase Price
Estate Fees Varies, Co-op may impose additional fees for estate sales
Lost Stock and Lease Fees $250 - $750
eTax Filing Fee(ACRIS) $50
Gains Tax Withholding (This refers to Out of State Seller) 7.7% of Gain
Non-United States Resident (FIRPTA) 10% of Price withheld or paid.
* Check with bank/mortgage broker for additional fees .


Revised 12/15

Co-Op Closing Costs - Seller

Co-Op Closing Costs - Buyer

 Condo/Townhome Closing Costs - Seller

 Condo/Townhome Closing Cost - Buyer

 Common Costs for Condo & Coop

Lee Presser
Lee Presser
Lic. Associate Real Estate Broker
1501 Broadway 12th FL New York NY 10036