How DOF Values a Co-op Unit for the Pied-a-Terre Surcharge

Facts checked October 9, 2026. Roll data: Department of Finance supplemental roll of July 24, 2026.

The Department of Finance supplemental roll publishes 36,677 individual co-op apartment values across 743 co-op developments, and 5,586 of those apartments are valued at $1,000,000 or more, which is where the pied-a-terre surcharge starts. Those 5,586 co-op apartments carry about $347 million a year in Phase 1 exposure, roughly a fifth of the $1.67 billion on the whole roll. The other 5,738 co-op developments on the roll appear only as a single building-level record, with no apartment values at all.

Across my 25+ years selling NYC real estate, this is a cost line co-op buyers and sellers now have to price, and the first question is always the same: what number does the city have for the apartment, and where do I see it. The easiest mistake on this roll is reading a building's total value as if it were an apartment's value, because both appear in the same file.

Two kinds of co-op record on the roll

A building-level record is a whole-development figure. Of the 7,073, 6,897 show a value of $1,000,000 or more, simply because a building is worth more than $1,000,000. That says nothing about any one apartment in it, and the roll does not test those records against the surcharge line.

What the apartment values show

All but 26 of the 5,586 over-the-line apartments are in Manhattan; the 26 are in Brooklyn. Across the roll, 665 co-op developments have at least one apartment over the line. The Department of Finance values co-op apartments on a rental-income method that generally runs below what an apartment sells for, so a roll value under $1,000,000 does not mean a sale price under $1,000,000.

Nearly all of them, 5,398 of 5,586, sit in the lowest band, and the pile-up is just over the line: 1,169 co-op apartments carry a value between $1,000,000 and $1,099,999. I come back to that pattern in my piece on the $1,000,000 cliff.

The fallback question I cannot answer for you

For the 5,738 developments with only a building record, a reader will want to know how the city arrives at an apartment's number. I looked for a published Department of Finance explanation of an allocation based on each apartment's share of the building, and I did not find one in the roll layout or the surcharge page. I am not going to guess at a method and print it as fact. If you own in one of those buildings, the notice and your property tax bill are the places where the city's number for your apartment shows. Read the valuation off the bill, and call the Department of Finance if the notice and the bill disagree.

NYC Co-ops $1M and Up

Manhattan and Brooklyn co-ops in the price range the surcharge reaches

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Active NEW

$1,150,000

625 Main Street #1432

Roosevelt Island

2 bd 2 ba 1,376 sf

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Co-op · 1975 RLS #RLS20112667

Active NEW

$1,545,000

575 Main Street #1109

Roosevelt Island

3 bd 3 ba 1,656 sf

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Co-op · 1975 RLS #RLS20110048

Listing information provided courtesy of the Real Estate Board of New York's Residential Listing Service (RLS). Information is deemed reliable but not guaranteed. Sale listings verified. ©2026 REBNY. RLS data displayed by Keller Williams NYC.

Why co-op boards care

Attorneys have told Inman that co-op boards are asking whether to amend proprietary leases or hold escrows from sellers whose apartments may owe the surcharge, because the city can pursue the tax for years after a sale. One of the lawsuits filed in late September argues the tax burdens cooperative buildings, since a co-op corporation can be held liable for a surcharge tied to one shareholder's apartment. That is a claim in a complaint, not a ruling. The suits are covered in my report on the ruling.

If you are in a building with a value on the roll, the next step is the same for everyone: check what DOF has on record, gather the primary-residence proof, and file by October 13 if you hold a notice. The pied-a-terre tax hub lists every co-op building on the roll with its count of apartments over the line.

This is general information, not legal or tax advice. Confirm your own filing with a New York real estate attorney or your CPA.

Sources

Facts on this page were checked against these sources on October 9, 2026.

• NYC Department of Finance, Supplemental Market Value Roll, tax year 2027, published July 24, 2026, analyzed by miltoncoste.com, apartment and building-level records
• NYC Department of Finance, non-primary residence surcharge, thresholds, rates and the valuation method
• Inman, September 29, 2026, attorney commentary on co-op boards and the claim in the REBNY-supported complaint