# Sell by Owner in Manhattan: Pricing, Taxes and Steps

By Charles Botensten, Botensten Properties International · Approved 2026-10-21 · Published 2026-10-20 · Updated 2026-10-21
Canonical: https://ctbre.com/journal/fsbo/selling-by-owner-pricing-taxes-and-steps/
Topic: Selling by owner · Manhattan

Selling a Manhattan apartment by owner means handling pricing, marketing, showings and negotiation yourself. Price against recorded sales, not asking prices; according to StreetEasy's data dashboard, Manhattan's median sale price is $1.21M, days on market are 91 and the sale-to-list ratio is 96.5%.

The table below shows each neighborhood's current numbers from StreetEasy's data dashboard and NYC Department of Finance sales records.

| Neighborhood | Median sale | Days on market | Sale-to-list | Listings with a price cut | Recorded sales, 90 days |
|---|---|---|---|---|---|
| Chelsea | $1.55M | 87 | 95.9% | 10% | 189 |
| Gramercy | $1.09M | 101 | 96.3% | 8% | 132 |
| Upper East Side | $1.3M | 89 | 96.7% | 9% | 727 |
| Upper West Side | $1.28M | 83 | 97.5% | 9% | 589 |
| Financial District | $908K | 105 | 93.2% | 9% | 91 |
| Tribeca | $3.63M | 72 | 96.1% | 7% | 77 |
| East Village | $1.05M | 78 | 93.1% | 12% | 49 |
| West Village | $1.33M | 86 | 97.8% | 6% | 149 |
| Greenwich Village | $1.78M | 92 | 99.5% | 10% | 153 |
| Midtown East | $853K | 97 | 95.7% | 11% | 257 |
| Midtown West | $885K | 114 | 93.9% | 10% | 120 |
| Flatiron | $1.94M | 86 | 96.0% | 9% | 82 |
| **Manhattan** | $1.21M | 91 | 96.5% | 10% | — |

_StreetEasy Data Dashboard, three-month average through September 2026; recorded sales from NYC Department of Finance through September 30, 2026._

## What does selling without a broker involve in New York?

Brokers themselves must be licensed by the New York Department of State. Licensees must give buyers, sellers, landlords and tenants the state agency-disclosure and fair-housing disclosure forms, so if a buyer arrives with a licensed agent, that agent owes you those forms.

Selling without a broker doesn't mean selling without help. Hire a real estate attorney before accepting an offer, and let the attorney draft or review the contract and run the closing. Ask the attorney to confirm every rule in this guide against your specific sale.

One disclosure rule is worth knowing. New York requires sellers of one- to four-family houses to give the buyer a Property Condition Disclosure Statement before contract. Co-ops and condominium units are not covered by that requirement.

## How do I price a for sale by owner apartment in Manhattan?

Start with closed prices rather than asking prices.

According to StreetEasy's data dashboard, the Manhattan median sale price is $1.21M, up 8.0% year over year, while the median asking price is $1.34M, down 5.2%. The median co-op sale is $860K and the median condo sale is $1.7M, according to the same dashboard.

StreetEasy's data dashboard puts Manhattan's sale-to-list ratio at 96.5%, with 10% of listings showing a price cut. Homes for sale number 7,780, down 9.9% from a year earlier, and days on market are 91, down 2 days year over year, according to StreetEasy's data dashboard.

The neighborhood table shows how much those numbers move from one part of Manhattan to another. According to StreetEasy's data dashboard, Greenwich Village has the highest sale-to-list ratio of the 12 neighborhoods CTBRE covers, at 99.5%, and the East Village the lowest, at 93.1%. Days on market run from 72 in Tribeca to 114 in Midtown West, according to the same dashboard. According to NYC Department of Finance sales records, the Upper East Side had 727 recorded sales in the last 90 days, the most of the 12, while the East Village had 49, the fewest.

Build the price from the bottom up. Pull recorded sales in your own building first, then in comparable buildings nearby, and adjust for floor, light, layout and condition. Write down the three or four sales that best support your number, and be ready to show them to buyers. Before you list, set a date to revisit the price if showings are thin.

## How much can I save selling by owner in Manhattan?

Calculated from StreetEasy's Manhattan median sale price of $1.21M, each 1% of commission comes to $12,125. That figure is a starting point, not the whole picture.

Decide early whether you will offer a fee to a buyer's agent who brings a buyer, and put any agreement in writing.

Then account for taxes. The New York City Real Property Transfer Tax on residential sales is 1% of the price for sales of $500,000 or less and 1.425% above $500,000, and the seller normally pays it. New York State adds a transfer tax of 0.4% of the price, or 0.65% on residential sales of $3 million or more in New York City, which the seller also normally pays. Calculated from StreetEasy's Manhattan median sale price, those two taxes come to $22,128.

Know the buyer's side too before you negotiate. The buyer of residential property in New York City pays the state mansion tax: 1% from $1 million to under $2 million, rising in tiers to 3.9% at $25 million and above. Calculated from StreetEasy's medians, the mansion tax is $12,125 on the Manhattan median sale, $0 on the median co-op sale and $17,036 on the median condo sale.

New York City's mortgage recording tax on residential mortgages, including condominium mortgages, is 2.05% of the loan under $500,000 and 2.175% at $500,000 or more, city and state rates combined. Co-op share loans are not recorded mortgages and do not pay it. Calculated from StreetEasy's median condo sale, the tax on an 80% loan comes to $29,643.

Finally, the gain. Federal tax law lets an owner exclude up to $250,000 of gain, or $500,000 for a married couple filing jointly, on the sale of a main home that meets the ownership and use tests. Confirm how the transfer taxes and the exclusion apply to your sale with a real estate attorney or an accountant.

## What are the steps to sell by owner in Manhattan?

Work through these in order.

1. **Hire a real estate attorney** before you list, and agree on fees and timing up front.
2. **Ask the building, in writing, what a sale requires**, including any application package, fees and approval steps, from the managing agent or board.
3. **Pull recorded sales** for your building and comparable buildings nearby, and set a price you can defend with closed sales.
4. **Prepare the apartment and the listing**: clean, repair, measure, and get a floor plan and good photographs.
5. **Write the listing about the home**: the apartment, the building, prices and transit, never who should live there.
6. **Decide your buyer's-agent policy** and put any fee agreement in writing.
7. **Screen buyers before second showings** by asking for a pre-approval letter or proof of funds.
8. **Keep every offer in writing**, and log each showing and the feedback you hear.
9. **Hand accepted terms to your attorney** to draft the contract and manage the deposit and closing.

For screening, know the down payment math. Calculated from StreetEasy's medians, 20% down is $242,500 on the Manhattan median sale, $172,000 on the median co-op sale and $340,729 on the median condo sale.

If the apartment belongs to an estate, the executor named in the will cannot sell estate property until the Surrogate's Court grants letters testamentary or preliminary letters testamentary. Have the estate's attorney confirm the paperwork before you set a listing date.

## How Charles Botensten can help

Charles Botensten, a licensed real estate broker and the owner of Botensten Properties International, offers a price check for owners selling on their own through ctbre.com. Send the address and unit through the contact form, and Charles will reply personally, in writing, within one business day.

## More questions

### Can I sell my co-op without a broker in Manhattan?

Ask the managing agent or board in writing what the building requires for a sale, and have a real estate attorney review it.

### How much can I save selling by owner in Manhattan?

Calculated from StreetEasy's Manhattan median sale price of $1.21M, each 1% of commission comes to $12,125. The seller normally still pays the city and state transfer taxes, which come to $22,128 on that median sale, by the same calculation. Confirm your own figures with a real estate attorney or accountant.

### How do I price a for sale by owner apartment in Manhattan?

Start with recorded sales in your building and comparable buildings nearby, then check market conditions. According to StreetEasy's data dashboard, Manhattan's sale-to-list ratio is 96.5% and 10% of listings carry a price cut. Charles Botensten offers a price check for owners selling on their own.

## Sources

- StreetEasy Data Dashboard (three-month average through 2026-09): https://streeteasy.com/blog/data-dashboard/
- NYC Department of Finance rolling sales (through 2026-09-30): https://data.cityofnewyork.us/d/usep-8jbt
- NYC Real Property Transfer Tax on residential sales: 1% of the price for sales of $500,000 or less, 1.425% above $500,000. The seller (grantor) is normally liable for it; the buyer is liable if the seller is exempt or does not pay. https://www.nyc.gov/site/finance/property/property-real-property-transfer-tax-rptt.page
- Federal tax law lets an owner exclude up to $250,000 of gain ($500,000 for a married couple filing jointly) on the sale of a main home owned and used as a residence for at least two of the five years before the sale. https://www.irs.gov/taxtopics/tc701
- New York requires sellers of one- to four-family houses to give the buyer a Property Condition Disclosure Statement before the buyer signs a binding contract (Real Property Law §462). Condominium units and co-op apartments are not covered. https://www.nysenate.gov/legislation/laws/RPP/462
- An executor named in a will has no power to sell or otherwise dispose of estate property before the Surrogate’s Court grants letters testamentary or preliminary letters testamentary, except to pay reasonable funeral expenses and preserve the estate (EPTL §11-1.3). https://www.nysenate.gov/legislation/laws/EPT/11-1.3
- No one may act as a real estate broker or salesperson in New York without a license (Real Property Law §440-a). In residential sales and rentals, licensees must give sellers, buyers, landlords and tenants the agency disclosure form (§443) and the Department of State’s Fair Housing and Anti-Discrimination Disclosure (19 NYCRR §175.28) at first substantive contact. https://dos.ny.gov/system/files/documents/2021/08/fair-housing-guidance-for-re-lic-holders.pdf
- New York State transfer tax: 0.4% of the price ($2 per $500); in New York City an additional 0.25% ($1.25 per $500) applies to residential sales of $3 million or more, for 0.65% in total. The seller (grantor) pays both. https://www.tax.ny.gov/bus/transfer/rptidx.htm
- Buyers of New York City residential property pay the 1% mansion tax at $1 million or more plus a supplemental tax at $2 million or more, for combined rates of 1% from $1 million, 1.25% from $2 million, 1.5% from $3 million, 2.25% from $5 million, 3.25% from $10 million, 3.5% from $15 million, 3.75% from $20 million and 3.9% at $25 million and above. https://www.tax.ny.gov/bus/transfer/rptidx.htm
- Mortgage recording taxes in New York City on residential mortgages (one- to three-family homes and individual condominium units), city and state combined, total 2.05% of a loan under $500,000 and 2.175% at $500,000 or more. Loans on individual co-op apartments do not pay mortgage recording tax. https://www.nyc.gov/assets/finance/downloads/pdf/reports/reports_mrt/2022-mrt-report.pdf
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