WHY NEW YORK OWNERS LIST PROPERTIES WITH US
OUR DUTY
By coordinating all aspects of the transaction, Prime Realty Luxury offers a fully integrated service when the client lists with us ensuring a smooth transaction.
WHAT WE BRING TO THE TABLE
Listing with us ensures owners' properties an optimal exposure to the market (advertised on over US 750 websites), including access to the whole brokerage community comprising over 16,000 brokers and asset managers.
Cutting-Edge Marketing
- An Internet marketing super-boost: your property will be advertised on no less than 750 of the most important online marketing channels in NYC and across the country.
- Print material: color flyers including HD photos are provided to all potential buyers during showings and open houses.
- Professional HD photographies taken for all listings and if needed touched up a little to highlight most important selling features.
- Access to brokers' database system, emailing campaigns.
Services
- Market Analysis: comps & valuation analysis based on current listings & recent sales are provided resulting in the marketing strategy.
- Inquiries: addressing all questions from cooperating brokers and potential customers pertaining to the property, the building, terms etc.
- Organizing open houses & private showings.
- Presentation of offers & negotiation of key deal points to maximize profitability.
- Preparation of term sheets, liaising with attorneys, banks.
- Board package preparation for smooth approval.
- Attend closing table with attorney and bank representatives.
CLOSING COSTS
The below closing costs are only designed to provide general cost estimations associated with the sale or purchase of a cooperative, condominium.
These are estimates ONLY and any potential sellers or buyers MUST consult their real estate attorney for specifics.
COOPS
- Attorney: $1,800 - $3,500+ (for units upto $4M)
- Managing Agent / Processing Fees: $250 - $800
- Broker Commission: 6% of closed sale price
- New York City (NYC) Real Property Transfer Tax:
If residential,
* 1% of purchase price if $500,000 or less;
* 1.425% of purchase price if over $500,000
If commercial,
* 1% of purchase price if $500,000 or less;
* 2.625% of purchase price if over $500,000
- New York State Transfer Tax: 0.4% of purchase price
- Flip Tax (Varies per coops): if applicable, 1-3 % of purchase price
- Move-Out Fees: $500 - $1,000
- Federal Withholding for Non-Exempt Foreign Seller (FIRPTA):
Consult with attorney for details
- Misc. : Stock Transfer Tax, UCC-3 Filing fees, Potential Capital Gains.
CONDOS
- Attorney: $1,800 - $3,500+ (for units upto $4M)
- Managing Agent / Processing Fees: $250 - $800
- Broker Commission: 6% of closed sale price
- New York City (NYC) Real Property Transfer Tax:
If residential,
* 1% of purchase price if $500,000 or less;
* 1.425% of purchase price if over $500,000
If commercial,
* 1.425% of purchase price if $500,000 or less;
* 2.625% of purchase price if over $500,000
- New York State Transfer Tax: 0.4% of purchase price
- Federal Withholding for Non-Exempt Foreign Seller (FIRPTA):
Consult with attorney for details
- NYC Administrative Fees:
* If Residential Deed Transfers: $125
* If Commercial Deed Transfers: $250
- Misc. : Condo Fees, Capital Gains (Consult with attorney for details)
