Mansion or not, you can't escape the so-called mansion tax

… mansion tax which kicks in when you purchase a property for $1 million or moreeven if the place you are buying is an apartment Thats because the fee is based on the sales prices not the type of property and it starts at 1 … with a one bedroomso its a closing cost that is shouldered by many buyers The mansion tax aka New York State Tax 1402a …

By Jennifer White Karp |April 14, 2025 - 10:00AM
The buyer's and seller's guide to NYC closing costs

… Whether youre buying or selling real estate in New York City you face … tableincluding some that you may expect and others unique to New York  For sellers closing costs take a serious bite … have flip taxes ranging from 1 to 5 percent or as high as 10 percent of the purchase price  How buyers can lower …

By Evelyn Battaglia |January 6, 2025 - 10:00AM