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Kips Bay prices are up 29.6 percent year over year, seven new condo buildings have opened in five years, a 14-story tower just broke ground,

Financial District just posted a 46.7 percent surge in buyer searches, a 28 percent jump in median prices, and the number one spot on StreetEasy’s

What is the secret to a fast sale of a property? This is a question several different types of homeowners have. Some need to sell fast because they need the funds from the proceeds. Others might be looking to take advantage of a favorable market. But the main goal is not to sell fast. It’s selling fast at the best possible price.

Who pays the NYC real property transfer tax? The seller pays the NYC real property transfer tax or RPTT. It applies to all real estate transactions, including co-ops that are technically not considered real property but rather personal property, since what you actually buy are shares of a co-operative and the right to live in one of the units.

Who pays property taxes when closing in New York? The seller – who owned the property during the time the taxes were incurred, is typically responsible for paying property taxes at the time of closing. However, the responsibility can be shifted to the buyer with mutual agreement. If the buyer receives a tax bill for the period the seller occupied the property, they may be responsible as current owners of that property. They can reach out to the seller to pay the bill or even have this as part of the contract at the time of closing (so the seller can leave money in the escrow).
Then there are taxes specific to the transaction itself, i.e., property changing hands. Both buyers and sellers have their own taxes.