From listing to proceeds, the full picture
A NYC sale has more moving parts than most sellers expect. Knowing the sequence upfront helps you make better decisions at each stage, from how you price to which buyer you accept.
Your full cost picture, before you list
Knowing every cost upfront lets you price with confidence and set realistic expectations. Here is every line item, by property type.
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| Cost Item | Co-opseller’s costs | Condopseller’s costs | Condoseller’s costs |
|---|---|---|---|
| Broker Commission | ~$75,000–$90,000 5–6% of sale price; split between listing & buyer’s broker |
~$75,000–$90,000 Same rate |
~$75,000–$90,000 Same rate |
| NYC Transfer Tax | ~$21,375 1.425% on sales above $500K; paid by seller |
~$21,375 Same rate |
~$21,375 Same rate |
| NY State Transfer Tax | ~$6,000 0.4% of sale price |
~$6,000 0.4% of sale price |
~$6,000 0.4% of sale price |
| Mansion Tax | Paid by buyer | Paid by buyer | Paid by buyer |
| Flip Tax | $15,000–$45,000+ 1–3% of sale price or profit; building-specific; check your proprietary lease |
Rare / minimal Less common in condops |
— Does not apply |
| Attorney Fees | $2,500–$4,500 Use a real estate specialist |
$2,500–$4,500 Use a real estate specialist |
$2,500–$4,500 Use a real estate specialist |
| Move-out Deposit | $500–$1,500 Refundable if no damage |
$500–$1,500 Refundable if no damage |
$500–$1,500 Refundable if no damage |
| UCC-3 Filing Fee | ~$300–$500 Releases lender’s security interest in your shares |
~$300–$500 Same as co-op |
— Not applicable to condos |
| Total Seller Costs on a $1.5M sale |
~$120,000–$165,000 | ~$105,000–$125,000 | ~$105,000–$120,000 |
Figures based on a $1.5M sale. Broker commission is the largest variable, negotiable based on market conditions and property. Co-op sellers should confirm their exact flip tax amount in the proprietary lease before pricing; it directly affects net proceeds and is often higher than expected. Transfer taxes are typically seller costs but can be negotiated at times.
Co-op flip taxes are set by the building and vary widely. Some charge 1% of the sale price. Others charge a percentage of profit. Some charge a flat fee per share. Checking the transfer of shares section of your proprietary lease before you list gives you an accurate net figure and puts you in a stronger position from the start.
Your property type determines who can buy it and how long it takes
Co-op, condop, and condo each come with a different buyer pool, timeline, and cost structure. Understanding the differences helps you set the right price and choose the right buyer.
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| Factor | Co-op | Condop | Condo |
|---|---|---|---|
| Buyer pool | Narrower; board approval required | Wider than co-op | Widest; no approval required |
| Board approval | Required; you wait on the outcome | Right of first refusal only | Not required |
| Rejection risk | Board can reject buyer; deal collapses | No rejection risk | No rejection risk |
| Time to close | 4–6 months typical | 3–5 months typical | 2–4 months typical |
| Flip tax | Common; 1–3% of sale | Rare / minimal | Does not apply |
| Transfer taxes | NYC 1.425% + NYS 0.4% (paid by seller) | NYC 1.425% + NYS 0.4% (paid by seller) | NYC 1.425% + NYS 0.4% (paid by seller) |
| Listing price vs. condo | Typically 10–20% lower | Between co-op & condo | Commands premium |
| Investor buyers | Rare; sublet rules deter investors | Some; verify sublet policy | Common; full investor market |
| Pied-à-terre buyers | Limited; boards often restrict | Generally allowed | Allowed, but new annual tax applies |
* A condop is legally a co-op but operates with condo-like rules, typically due to a commercial ground-floor unit. Condop sellers generally have a wider buyer pool and fewer restrictions than standard co-ops.
A new annual surcharge applies to NYC co-ops, condops, and condos that are not the owner’s primary residence. Phase 1 rates (2026 to 2028): 4% per year on units with a DOF assessed value of $1M to $3M; 5.25% on $3M to $5M; 6.5% on $5M or more. If your likely buyers are primary residents, this does not affect them. If your unit may attract second-home purchasers or investors, understanding this cost helps you position the listing and price for that audience.
Everyone at the table has their own interests
Each party has a specific role and their own interests. Knowing who is in the room and what they are focused on helps you follow the process with confidence.
What sellers ask most
Straightforward answers to the questions that come up in every listing conversation.
How do I price it correctly?
What does the co-op board look at when reviewing my buyer?
What happens if the board does not approve my buyer?
How does the 2026 co-op law help me as a seller?
Is now a good time to sell?
NYC Real Estate Advisor
Someday I might trade skyscrapers for a place by the ocean. Until then, New York is home.
Currently a resident of a Gramercy co-op, I have personally rented, bought and renovated in the city for more than a decade. Beyond real estate, I work on mobile apps, and have been part of the tech industry the past 15 years.
In my spare time, I enjoy exploring the NYC dining scene with friends and family, along with exploring new waters outside the city, drift diving with new friends.
Let’s chat!
Co-op, condop, or condo —
let’s figure out what’s right for you.