As a Brooklyn seller, you pay two transfer taxes, your broker, your attorney, and in a co-op or condo, the building’s fees.
The two taxes alone take 1.825% of the price on most sales. In the last 12 months, 84.1% of Brooklyn home sales were over $500,000, where the higher city rate starts.

Stock photos of a home sale closing. Photos: Kindel Media, Mikhail Nilov, Pavel Danilyuk on Pexels.
The short version
- New York State transfer tax: 0.4% of the price, or 0.65% at $3 million or more.
- New York City transfer tax: 1% up to $500,000, 1.425% above it.
- Broker commission: negotiable. Each 1% on a typical Midwood house is $14,250.
- Your attorney: Hauseit puts a typical New York City flat fee at $2,000 to $3,000.
- Co-op or condo: a flip tax or transfer fee, a move-out deposit, and the managing agent’s fee.
- Not yours: the mansion tax and the NYC supplemental tax are the buyer’s.
On this page
Seller closing costs in NYC: the full list
The full list of seller closing costs in NYC: the state and city transfer taxes, your broker commission, your attorney fee, your mortgage payoff and, in a co-op or condo, the building’s fees. In total, Hauseit, a New York City brokerage, puts seller closing costs at 8% to 10% of the sale price, with a 6% broker fee as the largest part.
| Cost | How much | Who sets it |
|---|---|---|
| New York State transfer tax | 0.4% (0.65% at $3 million+) | State law |
| New York City transfer tax | 1% or 1.425% | City law |
| Broker commission | A share of the price | You and your broker |
| Buyer’s agent fee | Only if you agree to pay it | You and the buyer |
| Seller’s attorney | Often a flat fee | You and your attorney |
| Flip tax or transfer fee | About 1% to 2% (co-ops, some condos) | The building |
| Move-out deposit and fees | Set per building | The building |
| Managing agent closing fee | Set per building | The managing agent |
| Mortgage payoff | Your loan balance, plus the bank’s satisfaction fee | Your lender |
That total is Hauseit’s estimate, not a city figure. Your commission moves it the most.
Who pays what at a Brooklyn closing
Seller pays
New York State transfer tax, New York City transfer tax, your broker, your attorney, your mortgage payoff.
Co-op or condo seller also pays
The building’s flip tax or transfer fee, move-out deposit and fees, and the managing agent’s closing fee.
Buyer pays
The mansion tax from $1 million, the NYC supplemental tax from $2 million, the buyer’s own attorney and lender.
Can go either way
The buyer’s agent fee and credits toward the buyer’s closing costs: you agree these in the deal.
NYS Department of Taxation and Finance, NYC Department of Finance, National Association of Realtors settlement rules.
NYS and NYC transfer tax rates for sellers
These are the transfer tax rates a seller pays in 2026, by sale price, as published by the NYS Department of Taxation and Finance (updated June 1, 2026) and the NYC Department of Finance.
| Sale price | State | City | Total |
|---|---|---|---|
| $500,000 or less | 0.4% | 1% | 1.4% |
| Over $500,000, under $3 million | 0.4% | 1.425% | 1.825% |
| $3 million or more | 0.65% | 1.425% | 2.075% |
Rates for one to three family houses, condo units and co-op apartments.
The seller pays both. The state says its tax is “paid by the grantor (seller).” The city says the seller is normally liable for its tax too.
Most Brooklyn sellers land in the middle row. In the last 12 months, 84.1% of Brooklyn home sales were over $500,000, and 6.6% were $3 million or more.
The city tax is paid at closing. Its return is filed through ACRIS, the city’s property recording system, within 30 days, even when no tax is due.
What sellers paid in transfer tax at real Brooklyn prices
We took the median sale of the last 12 months from the city’s recorded sales and worked out both taxes. This is what a typical seller in each place paid.
Seller transfer taxes at real Brooklyn prices
New York State plus New York City transfer tax on the median sale of the last 12 months.
NYC Department of Finance rolling sales, Brooklyn, sales October 1, 2025 to September 30, 2026, $100,000 or more, package deals counted once. Houses are one to three family homes. Tax rates: NYS Department of Taxation and Finance and NYC Department of Finance.
| Typical sale | Price | State tax | City tax | Both | Each 1% of commission |
|---|---|---|---|---|---|
| Midwood house | $1,425,000 | $5,700 | $20,306 | $26,006 | $14,250 |
| Madison house | $1,244,000 | $4,976 | $17,727 | $22,703 | $12,440 |
| Marine Park house | $850,000 | $3,400 | $12,112 | $15,512 | $8,500 |
| Brooklyn co-op | $460,000 | $1,840 | $4,600 | $6,440 | $4,600 |
Houses are one to three family homes. Medians from NYC Department of Finance rolling sales, Brooklyn, sales October 1, 2025 to September 30, 2026, $100,000 or more, package deals counted once.
So a seller of a typical Midwood house paid $26,006 in transfer taxes. Add an attorney at Hauseit’s $2,000 to $3,000 and you are at $28,006 to $29,006 before any commission.
The co-op seller paid far less in tax, because a sale under $500,000 falls in the lower city rate. But a flip tax of 1% to 2% on that co-op would be $4,600 to $9,200, about as much as both taxes or more.

Broker commission and who pays the buyer’s agent now
Commission is the biggest cost for most sellers, and it is negotiable. The National Association of Realtors says it plainly: “Agent compensation for home buyers and sellers continues to be fully negotiable.”
The rules changed on August 17, 2024. Sellers can no longer offer the buyer’s agent a fee on the listing system. You can still offer it in the deal itself, or offer the buyer a credit toward closing costs.
- Your broker: the rate you sign in the listing agreement, paid at closing.
- The buyer’s agent: paid by the buyer, unless you agree to pay it in the contract.
- Credits to the buyer: a way to help a buyer with their closing costs. Agree the amount up front.
Every 1% of commission on a typical Madison house is $12,440. That is why the rate matters more than any other line.
Co-op and condo extras: flip tax, managing agent, move-out
A co-op or condo adds the building’s own charges. Your offering plan, bylaws or the managing agent tells you the exact amounts.
- Flip tax or transfer fee: paid to the building, not the government. Brick Underground’s experts say most buildings charge about 1% to 2% of the price.
- Move-out deposit and fees: a building may charge both when you move out.
- Managing agent fee: paid to the managing agent for the closing.
Outside expert, not affiliated with The Behfar Team
Flip taxes and transfer fees are very common in NYC.
Richard Apell, controller at property manager Argo Real Estate, speaking to Brick Underground in April 2024.
A flip tax is not a tax at all, despite its name. Brick Underground notes there are no deductions to take for it.
Seller’s attorney fee and other fixed costs
In New York City, sellers usually hire a real estate attorney for the contract and the closing. Hauseit says: “A typical real estate attorney in NYC charges a flat fee of $2k to $3k for a sale or purchase transaction.”
- Mortgage payoff: your loan is paid off from the sale money at closing. Hauseit lists “a bank loans satisfaction fee if there’s an outstanding mortgage” as a cost.
- Buyer credits: only what you agree to in the contract.
The mansion tax is the buyer’s, not the seller’s
The mansion tax is a buyer cost. The state says: “The additional tax (mansion tax) and supplemental tax are paid by the buyer. If the buyer doesn’t pay the tax or is exempt, the seller must pay the tax.”
- Mansion tax: 1% of the price from $1 million.
- NYC supplemental tax: 0.25% to 2.9% from $2 million, also paid by the buyer.
Did the rates change in 2026? The state’s transfer tax page, updated June 1, 2026, still shows the same rates. Lawmakers proposed higher taxes on homes of $5 million or more in March 2026, and the state page shows no new tier.
Capital gains and the home sale exclusion
Capital gains tax is not a closing cost, but it changes what you keep. The IRS lets you exclude up to $250,000 of gain, or $500,000 on a joint return, on the sale of your main home.
To qualify you must have owned and lived in the home for at least two of the five years before the sale. Ask your CPA how it applies to you.
Where The Behfar Team fits
Before you list, we show you what your home is likely to sell for and what you would keep after these costs. We sell homes in Midwood, Madison and Marine Park, so we use what sold near you, not a borough average.
We are not your attorney or your accountant, and we do not give tax advice. We will tell you which questions to ask them. When you are ready, see how we sell a Brooklyn home.
Questions sellers ask about closing costs
How much are seller closing costs in NYC?
It depends mostly on your commission. Hauseit estimates 8% to 10% of the price in total with a 6% broker fee. The two transfer taxes alone are 1.825% on most Brooklyn sales.
Does the seller pay transfer tax in New York?
Yes. The seller pays both the state transfer tax and the city transfer tax. The buyer pays only if the seller does not pay or is exempt.
What is the NYC transfer tax rate in 2026?
1% for homes sold for $500,000 or less, and 1.425% above that. The state adds 0.4%, or 0.65% at $3 million or more.
Who pays the mansion tax in NYC?
The buyer. The mansion tax is 1% from $1 million, and the NYC supplemental tax starts at $2 million. The seller pays only if the buyer does not pay or is exempt.
How much transfer tax do you pay on a Brooklyn house?
On the typical Midwood house of the last 12 months, $1,425,000, the two taxes came to $26,006. On a typical Marine Park house, $850,000, they came to $15,512.
Does a co-op seller pay a flip tax?
Often, yes. It is set by the building, not the government. Brick Underground’s experts say most buildings charge about 1% to 2% of the price.
Sources
- NYS Department of Taxation and Finance, Real estate transfer tax (updated June 1, 2026).
- NYC Department of Finance, Real Property Transfer Tax and its 2025 report.
- NYC Department of Finance, rolling sales, Brooklyn, file dated October 13, 2026: sales October 1, 2025 to September 30, 2026.
- National Association of Realtors, What the NAR settlement means for home buyers and sellers.
- Hauseit, Seller closing costs in NYC; Brick Underground, Flip tax and transfer fee trends.
- The Real Deal, New York lawmakers pitch mansion tax in budget bills, March 2026.
- Internal Revenue Service, Topic 701, Sale of your home.
From The Behfar Team
We work from our office at 1524 East 23rd Street in Midwood and have closed 494 buyer and seller transactions. Our 142 Google reviews average 4.9 stars, and our agents speak six languages.
Know your number before you list
We will tell you what your home is likely to sell for, and roughly what you keep after taxes and fees. You can also call the office at 347-988-2526.
Tax rates come from New York State and New York City agencies. This is general information, not legal or tax advice. Talk to your attorney and accountant about your own sale.