What is the difference between a co-op and a condo in NYC?

Co-ops (approximately 75% of NYC apartment inventory): You buy shares in a corporation that owns the building and receive a proprietary lease. Board approval is required. Condos (approximately 25% of inventory): You own your individual unit with a deed. No board approval is required. Co-ops typically have stricter financial requirements and higher monthly fees that include property taxes, while condos offer more subletting flexibility and different closing costs.

What are typical financial requirements for buying a co-op in NYC?

Co-ops typically require a 20-50% down payment plus post-closing liquidity (cash reserves often equal to 1-2 years of maintenance). Condos are more flexible, with 10-20% down payment options common. Both property types require lenders to evaluate debt-to-income ratios and credit history. Individual buildings may have additional requirements, so always verify with the listing agent before making an offer.

How long does it take to close on a property in NYC?

Closing timelines vary by property type. Condos and townhouses typically close in 30-45 days from signed contract. Co-ops take longer: 60-90 days or more, because the board package must be assembled and submitted, the board must review it, and an interview must be scheduled before approval. All-cash purchases close faster than financed purchases regardless of property type.

What closing costs should I expect when buying in NYC?

NYC closing costs for buyers range from approximately 2-6% of the purchase price depending on property type and financing. Condo buyers pay title insurance, NYC/NYS transfer taxes paid by the seller, mortgage recording tax (if financing), and mansion tax on purchases over $1M. Co-op buyers do not pay title insurance or mortgage recording tax but do pay attorney fees, application fees, and the mansion tax on purchases over $1M. Both need a real estate attorney, which typically costs $3,000-4,500 in NYC.

Can I see NYC homes before they hit the market?

Yes. Through the RLS Coming Soon listing status and Keller Williams pre-market tools, Milton Coste can show buyers properties before they officially go active on the MLS. Coming Soon listings appear on RLS, Zillow, Trulia, and StreetEasy with full photos, details, and pricing. Showings and offers cannot be accepted until the listing goes active, but buyers get early access to prepare their offer strategy before competition arrives.

What is the FARE Act and how does it affect NYC renters?

The FARE Act (Fairness in Apartment Rental Expenses Act) took effect June 11, 2025. It requires that whoever hires a broker, typically the landlord, pays the broker fee. Tenants can no longer be required to pay broker fees on landlord-engaged broker listings. Tenant-engaged brokers can still charge tenants. The FARE Act applies to rental transactions only, not to buying or selling.

What is a flip tax in an NYC co-op?

A flip tax is a fee some co-op buildings charge when a unit is sold. It typically ranges from 1-3% of the sale price, though some buildings calculate it per share. The seller usually pays it, though some buildings assign it to the buyer or split it. On a $1.2M sale with a 2% flip tax, the seller owes $24,000 to the building before taking proceeds. Always verify flip tax policies before making an offer or listing.

Do I need a real estate attorney to buy or sell in NYC?

Yes. Unlike most US states, New York real estate closings are attorney-driven. Both the buyer and seller are represented by licensed real estate attorneys who review the contract, negotiate riders, handle due diligence, coordinate with the lender and title company, and attend the closing table. Attorney fees in NYC typically run $3,000-4,500 per side. Title companies play a secondary role compared to states with escrow-based closings.

South Harlem Condos for Sale | South Harlem Condo Listings 2026

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Why Buy a Condo in South Harlem?

What makes condos stand out in this market

No Board Interview

Condo purchases close without co-op board approval, making the process significantly faster from contract to keys.

Financing Flexibility

Most NYC condos allow up to 90% financing with fewer lender restrictions than co-op buildings.

Fee-Simple Ownership

You own your unit with a deed, not shares in a corporation. Greater flexibility for resale, subletting, and estate planning.

Subletting Freedom

Condos typically allow unrestricted subletting, making them suitable for pied-a-terre or investment purchases.

Know Before You Buy

Higher Entry Price

Condos command a 15-30% premium over equivalent co-ops in the same building class.

Review the Offering Plan

Every condo sale requires reviewing the offering plan. Milton reviews key financial terms and sponsor disclosures on your behalf.

Mansion Tax

NYC buyer mansion tax applies starting at 1% on purchases at $1M+, scaling to 3.9% above $25M.

Active Condos in South Harlem

55 listings · Updated every 15 minutes

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Active

$1,499,000

11 HANCOCK Place #406

2 bed 2 bath 1,172 sqft Condo

Listing by Brown Harris Stevens Residential Sales LLC

Active

$1,469,000

11 HANCOCK Place #304

2 bed 2 bath 1,281 sqft Condo

Listing by Brown Harris Stevens Residential Sales LLC

Active

$699,000

220 W 111TH Street #2B

2 bed 1 bath 610 sqft Condo

Listing by Corcoran Group

Active

$1,360,000

2280 FREDERICK DOUGLASS Boulevard #9F

2 bed 2 bath 1,225 sqft Condo

Listing by Brown Harris Stevens Residential Sales LLC

Active

$780,000

127 W 112TH Street #2A

1 bed 1 bath 702 sqft Condo

Listing by Douglas Elliman Real Estate

Active

$1,500,000

5 W 120TH Street #1

3 bed 3 bath 2,569 sqft Condo

Listing by Douglas Elliman Real Estate

This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., All rights reserved.

Recently Sold Condos in South Harlem

4 recent closings · Live RLS data

Closed

$780,000

300 W 122ND Street #6I

1 bed 1 bath 639 sqft Condo

Listing by Douglas Elliman Real Estate

Closed

$1,499,000

300 W 122ND Street #5K

2 bed 2 bath 1,094 sqft Condo

Listing by Douglas Elliman Real Estate

Closed

$570,220

300 W 122ND Street #9E

0 bed 1 bath 422 sqft Condo

Listing by Douglas Elliman Real Estate

Closed

$2,983,359

300 W 122ND Street #14D

4 bed 3 bath 1,885 sqft Condo

Listing by Douglas Elliman Real Estate

Condo Expert in South Harlem

25+ Years, 1,000+ Transactions
Former Managing Partner and Principal Broker. I know South Harlem's condos inside and out.

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Milton Coste

Licensed Real Estate Associate Broker

Keller Williams NYC | License #10401274378

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"He has a deep understanding of the value of apartments in NYC. Intelligent, professional, and always had my best interests in mind. This is the person you want on your side."

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Condos in South Harlem: FAQ

What is the median condo price in South Harlem?

The current median asking price for condos in South Harlem is $1,100,000, with prices trending +5.8% year-over-year. Contact Milton for a live comp analysis on specific buildings.

Do I need a board interview to buy a condo in NYC?

No. Condominium purchases do not require board approval or an interview. Some buildings retain a right of first refusal, but interviews are not required. This makes condo transactions 4-6 weeks faster than co-op purchases on average.

What is the NYC mansion tax on condos?

The NYC mansion tax starts at 1% for purchases at $1M, scaling up to 3.9% for purchases over $25M. It is paid by the buyer at closing. Milton provides a full net proceeds estimate before you make an offer.

Find Your South Harlem Condo

Live listings, off-market opportunities, and a free condo market analysis. No obligation.

Milton Coste

Licensed Associate Broker

Keller Williams NYC | Lic. #10401274378

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Condos for Sale in South Harlem

Why Buy a Condo in South Harlem?

No Board Interview

Financing Flexibility

Fee-Simple Ownership

Subletting Freedom

Know Before You Buy

Higher Entry Price

Review the Offering Plan

Mansion Tax

Active Condos in South Harlem

Recently Sold Condos in South Harlem

Condo Expert in South Harlem

Milton Coste

What Clients Say

Condos in South Harlem: FAQ

What is the median condo price in South Harlem?

Do I need a board interview to buy a condo in NYC?

What is the NYC mansion tax on condos?

Find Your South Harlem Condo

Milton Coste

Schedule with Milton

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