Kings County (Brooklyn), New York · Seller net sheet

Kings County (Brooklyn) seller net sheet calculator

Brooklyn sellers pay two transfer taxes: New York State's 0.40% and New York City's Real Property Transfer Tax of 1.0% or 1.425%. Combined, that is roughly 1.825% of the sale price before commissions — one of the heaviest seller tax loads in the country.

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Single offer

One set of terms, full itemized net sheet.

Estimated Net Proceeds

$205,200

Property label

Shown on the PDF report and used in the file name.

Sale price

Estimated closing date

Seller agent commission3%

Buyer agent commission2.5%

Outstanding mortgage payoff

Your Estimated Net Walkaway Cash

$205,200

Closing on Sep 13, 2026 · $319,800 in payoff, commissions & costs

Where the gross sale goes

$525,000 sale price broken down

Mortgage Payoff
$285,000
54.3% of gross sale
Total Commissions
$28,875
5.5% of gross sale
Closing/Agent costs
$5,925
1.1% of gross sale
Your Net Cash
$205,200
39.1% of gross sale

Itemized breakdown

Every line, and the share you pay as the seller

Itemized seller closing cost breakdown
Item	Full	Your share
Sale price	—	$525,000
Mortgage payoff	—	−$285,000
Listing agent commission(3%)	—	−$15,750
Buyer agent commission(2.5%)	—	−$13,125
Title Insurance Policy(Seller)	$1,800	−$1,800
Transfer Tax	$2,100	−$2,100
Recording Fees	$150	−$150
Escrow / Settlement Fee(50/50)	$950	−$475
Prorated Property Taxes	$1,400	−$1,400
Estimated net proceeds		$205,200

Selling a primary residence? Read our capital gains tax on home sale guide to estimate any federal tax owed on top of these net proceeds.

What Kings County (Brooklyn) sellers should know

Local transfer tax

Brooklyn sits inside New York City, so the seller pays the NYC Real Property Transfer Tax on top of the state transfer tax: 1.0% on residential sales of $500,000 or less, and 1.425% above that.

Title & closing custom

In New York the buyer pays for title insurance. The seller's own attorney fee (typically $2,000–$3,500 in Brooklyn) is the seller-side legal cost.

Property taxes

Kings County's effective property tax rate averages roughly 0.98% of market value, though NYC's class-based assessment system makes individual bills vary widely.

Kings County (Brooklyn) seller FAQs

How much is the transfer tax when selling a home in Brooklyn?

You pay the New York State transfer tax of 0.40% plus the NYC Real Property Transfer Tax of 1.425% on residential sales over $500,000 (1.0% at or below $500,000). On a $1,000,000 Brooklyn sale that is roughly $18,250 combined, and the state rate rises to 0.65% on sales at $3M and above.

Who pays the mansion tax on a Brooklyn sale?

The buyer pays the mansion tax on purchases of $1,000,000 or more — it starts at 1% and rises progressively above $2M. It does not come out of your proceeds, but it absolutely affects what buyers are willing to bid at prices just over the thresholds.

Do I need an attorney to sell a house in Brooklyn?

In practice, yes. New York is an attorney-closing state and every Brooklyn residential transaction runs through seller's and buyer's counsel. Budget roughly $2,000 to $3,500 for the seller's attorney, plus co-op or condo transfer and flip-tax fees where they apply.

Seller guide

Understanding Closing Costs & Net Proceeds in New York

New York sellers face one of the most layered closing-cost stacks in the country — state transfer tax, an extra NYC transfer tax if you're in the five boroughs, and sometimes a Mansion Tax paid by your buyer that can still affect what price they're willing to offer.

Key local custom breakdown

Transfer tax: The state charges 0.40% of the sale price on residential sales under $3M, rising to 0.65% above that. Sellers pay this at closing.
NYC RPTT: Properties inside New York City add a 1.0% Real Property Transfer Tax (1.425% on residential sales over $500K), also paid by the seller.
Mansion Tax: Sales of $1M or more trigger a 1% – 3.9% Mansion Tax that the buyer pays — but it's a real factor in what price the market will bear.

How the New York transfer tax is calculated

Base Transfer Tax = Sale Price × 0.004

Example: $750,000 × 0.004 = $3,000

Sales of $1M+ add a 1.0%–3.9% progressive Mansion Tax (paid by the buyer).

Frequently asked questions (New York real estate)

What are the New York State real estate transfer tax brackets?: New York State charges a base transfer tax of $2.00 per $500 (0.40%) for residential sales under $3 Million. For luxury residential sales of $3 Million or more, the base rate increases by an additional $1.25 per $500, making the rate 0.65%.
How does the New York Mansion Tax scale?: The NY Mansion Tax begins at 1.0% for residential purchases of $1 Million or more. It scales progressively up to a maximum rate of 3.9% for ultra-luxury properties priced at $25 Million or higher. Unlike standard closing costs, the buyer is customarily responsible for paying this tax.
What additional fees apply to sales within New York City limits?: Properties sold within NYC are subject to the additional NYC Real Property Transfer Tax (RPTT). The RPTT rate is 1.0% for residential sales of $500,000 or less, and jumps to 1.425% for residential sales above $500,000, creating an extensive closing fee stack for city sellers.

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