# Selling a Manhattan Apartment: Pricing, Prep and Closing Costs

By Charles Botensten, Botensten Properties International · Approved 2026-10-21 · Published 2026-10-20 · Updated 2026-10-21
Canonical: https://ctbre.com/journal/selling/sell-apartment-for-top-dollar-guide/
Topic: Selling · Manhattan

Selling a Manhattan apartment for full value comes down to three things: pricing against recorded sales, preparing the home before it lists, and negotiating from evidence. According to StreetEasy's data dashboard, the Manhattan median sale price is $1.21M, up 8.0% year over year, the sale-to-list ratio is 96.5%, and days on market stand at 91.

The table below shows each neighborhood's current numbers, including sale-to-list ratios and the share of listings with a price cut.

| 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._

## How much is my apartment worth in Manhattan?

Start with what buyers paid, not what sellers are asking. According to StreetEasy's data dashboard, the Manhattan median asking price is $1.34M, down 5.2% year over year, while the median sale price is $1.21M, up 8.0%. That gap is worth noticing: asking prices have softened while closed prices have risen.

Keep co-op and condo comparisons separate. According to StreetEasy's data dashboard, the median co-op sale is $860K, up 3.4%, and the median condo sale is $1.7M, up 11.8%.

Neighborhood medians vary widely. Among the 12 neighborhoods CTBRE covers, Tribeca has the highest median sale price at $3.63M and Midtown East the lowest at $853K, according to StreetEasy's data dashboard.

A neighborhood median is only a starting point. Compare your price with recorded sales in your own building and line, then adjust for floor, exposure, layout, condition and monthly charges. Recorded sales in the table are deeds recorded with the NYC Department of Finance, so they reflect closed prices rather than asks.

## How should I price my apartment to sell?

According to StreetEasy's data dashboard, Manhattan's sale-to-list ratio is 96.5%, and 10% of listings carry a price cut. Supply is tighter than a year ago: homes for sale total 7,780, down 9.9%, and days on market are 91, two fewer than last year, according to StreetEasy's data dashboard.

Sale-to-list ratios and days on market differ by neighborhood. According to StreetEasy's data dashboard, Greenwich Village has the highest sale-to-list ratio of the 12 neighborhoods at 99.5%, and East Village the lowest at 93.1%. Midtown West has the most days on market at 114, while Tribeca has the fewest at 72.

Set the asking price from closed sales of comparable apartments, not from neighboring asking prices. Before launch, agree with your agent on a date to review activity, and decide in advance what showing and offer numbers would prompt a change. Ask the listing agent for a written showing report each week, with buyer feedback in plain words.

## How do I prepare my apartment before it lists?

A New York broker must be licensed by the Department of State and must give you the state agency-disclosure and fair-housing disclosure forms. New York's Property Condition Disclosure Statement applies to sellers of one- to four-family houses, not co-op or condominium units.

A short pre-listing checklist:

1. Pull recorded sales for your building and nearby buildings from the past year.
2. Hire a real estate attorney before you accept an offer.
3. Ask your managing agent early which building documents are available for a buyer's review.
4. Fix small repairs, clear surfaces and closets, and repaint scuffed walls.
5. Commission professional photos and an accurate floor plan.
6. Confirm the listing shows the correct monthly charges and taxes.
7. Set a price review date with your agent before the first open house.
8. Keep the apartment show-ready for the first weeks of marketing.

## What are seller closing costs in Manhattan?

The seller normally pays the NYC Real Property Transfer Tax, which is 1% of the price for residential sales of $500,000 or less and 1.425% above $500,000. The seller also normally pays the New York State transfer tax of 0.4%, or 0.65% on residential sales of $3 million or more in New York City. On the Manhattan median sale, those two taxes come to $22,128. Each 1% of commission on the median sale equals $12,125.

The buyer, not the seller, pays New York State's mansion tax: 1% from $1 million to under $2 million, rising in tiers to 3.9% at $25 million and above. On the median sale, that's $12,125; on the median co-op sale it's $0, and on the median condo sale it's $17,036.

Condo buyers who finance also pay New York City's mortgage recording tax, 2.05% of a loan under $500,000 and 2.175% at $500,000 or more, while co-op share loans don't pay it. On an 80% loan at the median condo sale, that tax is $29,643. Keep buyer-side costs in mind when you compare offers.

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 every figure with a real estate attorney and an accountant before you sign.

## How do I compare offers and negotiate?

Look past the headline number. Ask each buyer's agent for proof of funds and a lender preapproval, and compare down payment, contingencies and proposed closing date side by side. For scale, 20% down on the Manhattan median sale is $242,500, and 20% down on the median co-op sale is $172,000, calculated from StreetEasy's data dashboard figures.

Respond to every offer in writing, and tie each counter to recorded sales rather than to feelings about the apartment. If a sale is part of an estate, the executor named in the will cannot sell estate property until the Surrogate's Court grants letters testamentary or preliminary letters testamentary. Line that up early with an attorney.

## How Charles Botensten can help

Charles Botensten, a licensed real estate broker and the owner of Botensten Properties International, offers a pricing review that compares your apartment against recorded sales. Botensten Properties International has closed 42 sales and 128 rentals across New York City since 2014, according to StreetEasy. Request a pricing review through the contact form at ctbre.com, and Charles will send a personal, written reply within one business day.

## More questions

### Is now a good time to sell in Manhattan?

According to StreetEasy's data dashboard, the Manhattan median sale price is up 8.0% year over year while homes for sale are down 9.9%. Whether it's the right time for you depends on your next move, your taxes and your building's recent sales, so review those with an attorney and an accountant.

### How long does it take to sell an apartment in Manhattan?

According to StreetEasy's data dashboard, days on market in Manhattan stand at 91, two fewer than a year ago. Among the 12 neighborhoods CTBRE covers, Tribeca has the fewest at 72 and Midtown West the most at 114.

### Should I sell or rent out my apartment in Manhattan?

According to StreetEasy's data dashboard, the Manhattan median asking rent is $4,995, up 6.1%, which works out to $59,940 a year. Compare that with your carrying costs and expected sale proceeds. If you're considering stays under 30 days, NYC Local Law 18 requires city registration, the host must live in the unit and be present, and no more than two guests are allowed.

## 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
- NYC Local Law 18 created a registration system for short-term rentals: an entire apartment or home may not be rented for fewer than 30 days, a short-term rental is allowed only when the host lives in the same unit with the guests, and there is a limit of two guests (not counting children under 4). https://www.nyc.gov/site/specialenforcement/hosting-STRs/what-is-local-law-18.page
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