Seller Net Proceeds Calculator
Find out exactly how much you’ll walk away with after selling your home in New York City. This calculator accounts for agent commission, NYC and NYS transfer taxes, mansion tax, attorney fees, mortgage payoff, and every other line item so there are no surprises at the closing table.
Calculate Your Seller Net Proceeds
Your Estimated Net Proceeds
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Understanding Your Seller Net Proceeds in NYC
Selling a home in New York City is not as simple as subtracting your mortgage from the sale price. Between city and state transfer taxes, agent commissions, attorney fees, and potential building-specific costs, sellers can see 8% to 10% of their sale price consumed before they pocket a dollar. This calculator gives you clarity before you list, so you can price your home strategically and know exactly what you’ll walk away with.
How NYC and NYS Transfer Taxes Work for Sellers
As a seller in New York City, you are responsible for two layers of transfer tax:
- NYC Real Property Transfer Tax (RPTT): 1.0% of the sale price for residential properties selling at $500,000 or below. For sales above $500,000, the rate jumps to 1.425%.
- NYS Real Estate Transfer Tax: A flat rate of $2 per $500 of consideration, which works out to 0.4% of the sale price.
If your property sells for $1,000,000 or more, there is an additional NYS transfer tax surcharge of 0.65%, sometimes called the “supplemental mansion tax” for sellers. This is separate from the NYC mansion tax (which is paid by the buyer). Our calculator automatically handles all of these tiers.
What About the NYC Mansion Tax?
The NYC mansion tax is technically a buyer expense, not a seller cost. However, sellers of properties at or above $1 million should be aware of it because it affects buyer purchasing power and can come up during negotiations. Our separate NYC Mansion Tax Calculator breaks down the full tiered schedule.
Real-World Examples
Example 1: Selling a $650,000 home in Oakwood, Staten Island
Sale price: $650,000. Mortgage payoff: $300,000. Commission: 5% ($32,500). NYC RPTT: 1.425% ($9,262). NYS transfer tax: 0.4% ($2,600). Attorney: $2,500. Title fees: $1,500. Total costs: $48,362. Net proceeds: $301,638.
Example 2: Selling a $1,200,000 brownstone in Park Slope, Brooklyn
Sale price: $1,200,000. Mortgage payoff: $600,000. Commission: 5% ($60,000). NYC RPTT: 1.425% ($17,100). NYS transfer tax: 0.4% ($4,800) + 0.65% mansion surcharge ($7,800). Attorney: $3,000. Title fees: $2,000. Total costs: $94,700. Net proceeds: $505,300.
Example 3: Selling a $450,000 co-op in Flatbush, Brooklyn
Sale price: $450,000. Mortgage payoff: $200,000. Commission: 5% ($22,500). NYC RPTT: 1.0% ($4,500). NYS transfer tax: 0.4% ($1,800). Attorney: $2,500. Title fees: $1,000. Flip tax: $4,500 (if applicable). Total costs: $36,800. Net proceeds: $213,200.
Frequently Asked Questions
How much does it cost to sell a house in NYC?
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Total selling costs in NYC typically range from 8% to 10% of the sale price. This includes agent commission (typically 5-6%), NYC transfer tax (1-1.425%), NYS transfer tax (0.4%), attorney fees ($2,000-$4,000), and various title and closing fees. For properties over $1 million, add an additional 0.65% NYS transfer surcharge. Use this calculator to get your exact number.
Who pays the transfer tax in NYC â buyer or seller?
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In NYC, the seller pays both the NYC Real Property Transfer Tax (RPTT) and the NYS Real Estate Transfer Tax. The buyer pays the NYC mansion tax on purchases of $1 million or more. While these are the customary assignments, everything is technically negotiable in a real estate transaction.
What is a seller net sheet?
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A seller net sheet is a detailed breakdown of all the costs associated with selling your property, subtracted from the expected sale price, resulting in your estimated “walk-away” amount. Joseph Ranola provides personalized seller net sheets to every client before listing, so there are no surprises at the closing table.
Do I pay a flip tax when selling my co-op?
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Many NYC co-op buildings charge a “flip tax” when an apartment changes hands. This is typically 1-3% of the sale price, though it varies by building. Some buildings charge a flat fee, others a percentage. Check your co-op’s proprietary lease or ask your agent. You can include this amount in the “Other Costs” field of this calculator.
How can I reduce my selling costs in NYC?
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Transfer taxes are set by law and non-negotiable. However, you can manage other costs: negotiate attorney fees, minimize repair concessions through proper pre-listing preparation, and work with an experienced agent who prices correctly from day one to avoid carrying costs. Joseph Ranola and the Bridge and Boro Team specialize in maximizing your net proceeds through strategic pricing and marketing.