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Licensed Real Estate Associate Broker
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25+ years experience · 1,000+ transactions · 5-star reviews
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Co-ops, condos, and townhouses each carry different fees. Enter your numbers and see the full breakdown before you sign.
Estimates only. Numbers vary by lender, attorney, and building. Consult a qualified attorney for your specific transaction.
Mansion Tax Applies
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Schedule a Free Consultation| Purchase Price | Mansion Tax Rate | Tax on That Amount |
|---|---|---|
| Under $1,000,000 | None | $0 |
| $1,000,000 - $1,999,999 | 1.00% | $10,000 - $19,999 |
| $2,000,000 - $2,999,999 | 1.25% | $25,000 - $37,499 |
| $3,000,000 - $3,999,999 | 1.50% | $45,000 - $59,999 |
| $4,000,000 - $4,999,999 | 1.75% | $70,000 - $87,499 |
| $5,000,000 - $9,999,999 | 2.25% | $112,500 - $224,999 |
| $10,000,000 - $14,999,999 | 2.50% | $250,000 - $374,999 |
| $15,000,000 - $19,999,999 | 2.75% | $412,500 - $549,999 |
| $20,000,000 - $24,999,999 | 3.25% | $650,000 - $812,499 |
| $25,000,000 and above | 3.90% | $975,000+ |
Co-op buyers skip title insurance and mortgage recording tax, which can save $8,000-$20,000 on a $750,000 purchase. But co-ops add flip taxes when you sell (typically 1-3% of price or profit), and buildings vary widely on application and move-in fees. Condos cost more to buy but offer more flexibility: no board approval, subletting without restriction, and no flip tax obligation. In my 25+ years of NYC transactions, the right choice almost always depends on how long you plan to hold the property.