What are the New York State real estate transfer tax brackets?

New York State charges a base transfer tax of $2.00 per $500 (0.40%) for residential sales under $3 Million. For luxury residential sales of $3 Million or more, the base rate increases by an additional $1.25 per $500, making the rate 0.65%.

How does the New York Mansion Tax scale?

The NY Mansion Tax begins at 1.0% for residential purchases of $1 Million or more. It scales progressively up to a maximum rate of 3.9% for ultra-luxury properties priced at $25 Million or higher. Unlike standard closing costs, the buyer is customarily responsible for paying this tax.

What additional fees apply to sales within New York City limits?

Properties sold within NYC are subject to the additional NYC Real Property Transfer Tax (RPTT). The RPTT rate is 1.0% for residential sales of $500,000 or less, and jumps to 1.425% for residential sales above $500,000, creating an extensive closing fee stack for city sellers.

New York · Investor ROI

Underwrite your next New York rental property.

Cash flow, cap rate, cash-on-cash, and long-term ROI — with New York-specific closing-cost guidance below.

Property label

Shown on the PDF report and used in the file name.

Purchase price

Closing/Agent costs

Down payment20%

Interest rate6.75%

Loan term

yrs

Hold period

yrs

Gross monthly rent

Vacancy rate5%

Property tax (annual)

Insurance (annual)

HOA (monthly)

Maintenance8% of rent

Management8% of rent

Appreciation3% / yr

State guide

Understanding Closing Costs & Net Proceeds in New York

Calculating your take-home cash or net investment returns requires an accurate understanding of local state statutes, tax brackets, and real estate customs. While national real estate platforms give vague averages, RealCalc uses hyper-localized financial calculations to evaluate your exact transaction costs.

Key local custom breakdown

State transfer taxes: Calculated automatically based on New York's tax codes.
Title insurance custom: Set to match New York local custom, but completely adjustable.
Commission structure: Fully compliant with decoupled representation structures to prevent equity overpayment.

How the New York transfer tax is calculated

Base Transfer Tax = Sale Price × 0.004

Example: $750,000 × 0.004 = $3,000

Sales of $1M+ add a 1.0%–3.9% progressive Mansion Tax (paid by the buyer).

Frequently asked questions (New York real estate)

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