Estimate the combined NYC and New York State transfer tax due on a sale.
Customarily paid by the seller, but negotiable — for new-development sales the sponsor often passes these to the buyer. Does not include the buyer's mansion tax (residential $1M+) or mortgage recording tax. Co-op transfers follow different RPTT thresholds. Estimate only.
NYC imposes a transfer tax on all sales or transfers of real property:
New York State also imposes a transfer tax:
By NYC custom, the seller typically pays the NYC RPTT and NYS transfer tax. However, for new development sales, the buyer often pays both as the sponsor passes through these costs. Co-op sales have different rules: NYC RPTT applies but at different thresholds.
Certain transfers are exempt or partially exempt: transfers to government entities, transfers to or from certain nonprofits, transfers pursuant to court order, and transfers between related entities (with limitations). Consult a real estate attorney for specific exemption applicability.
NYC RPTT is 1.0-1.425% for residential properties and 1.425-2.625% for commercial, depending on the sale price. Combined with NYS transfer tax (0.4%), total transfer taxes range from about 1.4% to 3.0% of the sale price.
Customarily, the seller pays both NYC and NYS transfer taxes. However, for new development purchases, the buyer often pays as the sponsor passes through costs. The allocation is negotiable.
This is an estimate. Look up any NYC address for the actual assessed value, tax class, zoning, and FAR — free, no account needed.