Selling a Manhattan or Brooklyn apartment: strategy, pricing and what you’ll net.

Selling an NYC apartment usually runs in six stages: valuation and pricing, preparing the home (repairs, staging, photography), listing and marketing, negotiating an accepted offer, signing a contract drafted by your real estate attorney, and closing. For a co-op, the buyer must also be approved by the building's board between contract and closing, which adds weeks. Before you list, gather your deed or stock certificate and proprietary lease, recent maintenance or common-charge statements, building financials and any renovation approvals, because buyers' attorneys will ask for them. Hiring your attorney early avoids delays once an offer arrives.

Plan for several months from listing to closing, though well-priced homes can move much faster. In Q3 2026 Manhattan homes averaged 99 days on market and Brooklyn homes 82 days, according to Compass's Q3 2026 market reports. Once you accept an offer, contract signing typically takes one to three weeks. Condos often close within 30 to 60 days of contract, while co-ops commonly take 60 to 90 days because of the board package, review and interview. All-cash co-op deals can close faster. Overpricing is the most common reason a sale stretches out.

Price from recent closed sales of comparable units, not from asking prices or online estimates. In NYC, comparables should match building type (co-op vs condo), size, floor, light, views, outdoor space, condition and monthly carrying costs, since high maintenance or common charges lower what buyers can pay. Active and in-contract listings show your competition right now. Many sellers aim to price where the first weeks generate multiple showings; starting too high tends to produce price cuts and a stale listing history. A comparative market analysis from an experienced agent, ideally with an honest range rather than one flattering number, is the usual starting point.

Usually yes, at least light staging: declutter, depersonalize, repaint scuffed walls, fix small defects and improve lighting. Most NYC buyers first see a home in listing photos, so space and light matter more than expensive furniture. Vacant apartments often benefit from full staging or virtual staging so buyers can read the scale of rooms; if you use virtual staging, disclose it. Costs vary widely by size and duration, so get quotes. Some brokerages offer programs that front the cost of pre-sale work and are repaid at closing, such as Compass Concierge; read the terms first.

NYC sellers should budget roughly 8% to 10% of the sale price in total when a full brokerage commission is included. The largest items are the brokerage commission, the NYC and NYS transfer taxes (together 1.4% to 2.075% of price), any co-op or condo flip tax, and your attorney's fee. Smaller items include managing agent and move-out fees, lien payoffs and filing costs. Because commissions are negotiable and flip taxes vary by building, your actual total can be meaningfully higher or lower.

In a typical NYC resale, the seller pays both the NYC Real Property Transfer Tax and the New York State transfer tax. Legally both parties are responsible, and if the tax goes unpaid, the city can pursue either one. The main exception is new development: sponsors commonly require buyers to pay transfer taxes by contract. The buyer, not the seller, pays the separate state mansion tax on homes of $1 million or more. Who pays can be negotiated in the contract, which is why your attorney should review the tax allocation before you sign.

For a one- to three-family house, condo unit or co-op apartment, the NYC Real Property Transfer Tax (RPTT) is 1% of the price if it is $500,000 or less and 1.425% if it is more than $500,000, according to the NYC Department of Finance. The rate applies to the whole price, not just the portion above $500,000. For example, a $1.5 million sale carries $21,375 in city transfer tax. The return must be filed and the tax paid within 30 days of the transfer, which your attorney handles at closing.