Condos
Brokerage Fees: Typically 4-6% in Queens
Own Attorney: $850+
Processing Fee: $450+
NYC Transfer Tax:
Up to $500,000 = 1%
$500,000+ = 1.425%
Condo Deed Transfers: $75
NY State Transfer Tax: $4 per $1,000 of price
NYS Equalization Fee: $75
Pick-up/Payoff Fee: $250 – $500
UCC-3 Filing Fee: $100
Miscellaneous Condominium Charges: Vary by building
PLEASE NOTE:
For condominiums in new developments, the Purchaser will typically pay costs normally paid by the Seller. These include Seller attorney fees, NYS and NYC Transfer Taxes.
Coops
Brokerage Fees: Typically 4-6% in Queens
Own Attorney: $850+
Co-op Attorney: $450+
Flip Tax: Either a percentage of sale price, flat fee, or certain dollar amount per share. Check with your Coop’s management company to verify.
Stock Transfer Tax: $0.05 per share
Move-out Deposit/Fee: Varies by building
NYC Transfer Tax:
Up to $500,000 = 1%
$500,000+ = 1.425%
Non-Deed Transfers (for Co-ops) = $50
NY State Transfer Tax: $4 per $1,000 of price
NYS Equalization Fee: $75.00
Pick-up / Payoff Fee: $250-$500
UCC-3 Filing Fee: $100
Miscellaneous Coop Charges: Vary by development, check with your Coop’s management company to verify.
PLEASE NOTE:
For sponsor units in Coop developments, the Purchaser will typically pay costs normally paid by the Seller. These include Seller attorney fees, NYS and NYC Transfer Taxes.
Residential (1 - 4 Family):
Brokerage Fees: Typically 4-6% in Queens
Own Attorney: $1,000+
NYC Transfer Tax:
Up to $500,000 = 1%
$500,000+ = 1.425%
Residential Deed Transfers: $75
NY State Transfer Tax: $4 per $1,000 of price
NYS Equalization Fee: $75
Miscellaneous Title Fees: $200 – $500