Co-Op Cost Estimator for Sellers

Selling a co-op in Manhattan involves costs that differ meaningfully from a condo sale — most notably the Flip Tax, which is a building-specific charge that can be one of the largest expenses you'll face at closing. Understanding every line item well before you list helps you price accurately and plan your net proceeds without surprises.

Use this guide as an early planning reference. Your attorney will provide exact figures once you're under contract.

The Flip Tax — know yours before you list. Most Manhattan co-ops charge a Flip Tax (also called a transfer fee) on the sale of shares. The amount varies by building and can be significant — typically 1–3% of the sale price, or a fixed amount per share. This fee is set by the co-op's proprietary lease or house rules and is not negotiable.

Before you determine your list price or estimate net proceeds, contact your building's managing agent to confirm the exact Flip Tax formula for your unit.

Broker Commission

Fee	Estimated Cost
Listing broker commission Typically the largest single closing cost for a seller	Per listing agreement
Buyer's broker commission Per your listing agreement	Per listing agreement

Bank Fees

Fee	Estimated Cost
Payoff bank fees Charged by your lender to pay off and discharge your existing mortgage (stock loan) at closing	$500 – $1,000

Attorney

Fee	Estimated Cost
Your attorney Consult your attorney for their specific fee structure	~$2,500 – $5,000+

Building Fees

Fee	Estimated Cost
Flip Tax / Building Transfer Fee Set by your co-op's proprietary lease — confirm with your managing agent before listing	~1–3% of price or fixed $ per share
Co-op attorney / managing agent closing fee	$400 – $1,000
Admin fee	$250 – $1,000
Move-out fee Non-Refundable	$500 – $1,500
Move-out deposit Refundable Varies by co-op	$500 – $1,000

Government & Transfer Taxes

Fee	Estimated Cost
NYC Transfer Tax Paid by the seller	1.000% < $500,000 1.425% ≥ $500,000
NY State Transfer Tax Paid by the seller	0.400% < $3M 0.650% ≥ $3M
NY Stamp Tax Applied to the transfer of co-op shares — unique to co-op transactions	$0.05 per share
Transfer tax filing fee Administrative filing cost	Nominal
UCC-3 filing fee Terminates any existing UCC-1 financing statement on your co-op shares	$125

Unlike condos, co-op sellers do not pay a mortgage recording tax or title insurance — there is no deed transfer in a co-op transaction. However, the NYC and NYS Transfer Taxes apply at the same rates, and the NY Stamp Tax ($0.05 per share) is a small but co-op-specific cost that doesn't appear in condo closings.

Important Note

All figures on this page are estimates only and intended for planning purposes. Co-op closing costs — particularly the Flip Tax, admin fees, and building-specific charges — vary significantly from building to building. Always confirm your building's exact fees with the managing agent before listing, and obtain a precise closing cost statement from your attorney once under contract.

Thinking about selling your co-op? Let's talk through your numbers.