34 properties priced between $2M and $3M
Buying a $2M to $3M apartment in NYC puts the purchase in the second mansion tax bracket: 1.25% of the full price, paid by the buyer at closing, so a $2,000,000 contract owes $25,000 and a $2,500,000 contract owes $31,250. A contract at exactly $3,000,000 moves into the 1.50% bracket and owes $45,000, while a $1,999,999 purchase stays in the 1.00% bracket.
Co-ops and condos in this band follow different rules. A co-op purchase is a transfer of shares that needs board approval, and the board reviews the buyer's full financial package before it votes; a condo generally requires no board approval and allows more flexibility for investors and pied-a-terre buyers. The mansion tax applies to both, since there is no co-op exemption.
| Purchase price | Mansion tax rate | Arithmetic | Mansion tax (buyer) |
|---|---|---|---|
| $1,999,999 | 1.00% | $1,999,999 x 0.0100 | $19,999.99 |
| $2,000,000 | 1.25% | $2,000,000 x 0.0125 | $25,000 |
| $2,500,000 | 1.25% | $2,500,000 x 0.0125 | $31,250 |
| $2,990,000 | 1.25% | $2,990,000 x 0.0125 | $37,375 |
| $3,000,000 | 1.50% | $3,000,000 x 0.0150 | $45,000 |
The $2M to $3M band in Queens covers two and three bedroom condos in full-service buildings, larger pre-war co-ops, and some townhouses. Every purchase in this band pays the NYC mansion tax at 1.25% of the purchase price, a cash cost at closing that a mortgage will not cover.
I work with buyers across all five boroughs at this price point. Read the mansion tax guide or schedule a consultation to plan your search.
Active
$2,299,000
Single Family Residence99-35 74th Avenue
Forest Hills
Active
$2,199,000
Condo78-29 AUSTIN Street #TH14
Forest Hills
Active
$2,185,000
Condo21-11 31st Street #PH-2A
Ditmars Steinway
Active
$2,180,000
Condo45-40 VERNON Boulevard #12F
Hunters Point
Active
$2,130,000
Condo45-40 VERNON Boulevard #15D
Hunters Point
Active
$2,100,000
Condo27-21 44TH Drive #1502
Long Island City
Active
$2,095,000
Multi Family17-17 Madison Street
Ridgewood
Active
$2,075,000
Condo45-40 VERNON Boulevard #3O
Hunters Point
Active
$2,060,000
Condo5-12 51st Avenue #1
Long Island City
Active
$2,015,000
Condo11-50 45TH Road #2J
Flushing
