Condo, New Construction (or any Sponsor Sale)

In addition to the costs of a normal coop or condo closing, the buyer typically pays the following builder or sponsor costs:

City transfer tax of 1% of sales price, if price is $500,000 or less.
City transfer tax of 1.425% of sales price, if price is over $500,000.

State transfer tax of 0.4% of sales price.

Sponsor’s legal fees of approximately $1750.00

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