Selling a co-op or condo in Riverdale typically costs the seller between 1.4% and 1.825% of the sale price in government transfer taxes, before commission, legal fees and any flip tax. New York City charges a Real Property Transfer Tax of 1% on sales of $500,000 or less and 1.425% above that, and New York State adds 0.4%, according to Hauseit's guide to NYC transfer taxes. For a co-op that sells at Riverdale's recent median of about $315,000, transfer taxes come to roughly $4,400.
The bigger variable in Riverdale is the building. Most of the neighborhood's homes are co-ops, and many of those buildings charge a flip tax on top of the city and state taxes. Knowing your building's rules before you price is the single most useful thing you can do for your net.
The transfer taxes every Riverdale seller pays
Unlike much of Westchester, Riverdale is inside New York City, so sellers pay two transfer taxes.
NYC Real Property Transfer Tax. For residential sales, including co-ops, condos and one- to three-family houses, the city rate is 1% when the price is $500,000 or less and 1.425% when it is more. The seller typically pays it. The threshold matters in Riverdale because so many co-ops trade just below or just above $500,000.
New York State transfer tax. The state charges 0.4% on most sales, rising to 0.65% on NYC residential sales of $3 million or more. Very few Riverdale apartments reach that level, but some Fieldston houses do.
Here is what the two taxes look like at price points I see often in Riverdale:
| Sale price | NYC transfer tax | NYS transfer tax | Total transfer taxes |
|---|---|---|---|
| $315,000 (co-op median) | $3,150 (1%) | $1,260 | $4,410 |
| $425,000 (condo median) | $4,250 (1%) | $1,700 | $5,950 |
| $650,000 | $9,263 (1.425%) | $2,600 | $11,863 |
| $1,200,000 (house median) | $17,100 (1.425%) | $4,800 | $21,900 |
The costs that depend on your building
Flip tax. Many Riverdale co-ops charge a flip tax when an apartment sells, typically 1% to 3% of the sale price. Some buildings calculate it on the gross price, others on profit or as a fixed amount per share. On a $315,000 co-op, a 2% flip tax is $6,300, more than the city and state transfer taxes combined. Your proprietary lease or managing agent will have the exact terms, and I ask for them at the first meeting.
Managing agent and processing fees. Co-op and condo buildings charge fees to process the sale, review the buyer's application and prepare closing documents. Amounts vary by building and managing agent.
Loan payoff and lien search. If you have a share loan or mortgage, your lender's payoff letter sets the amount. Co-op sales also require a lien search and the release of the lender's lien on your shares.
Seller's attorney. New York closings are handled by attorneys. Most charge a flat fee for a residential sale.
Brokerage commission. Commission is negotiable and set in your listing agreement. I put every cost in writing before you sign, so nothing about your net is a surprise.
What you do not pay. The mansion tax, 1% on residential purchases of $1 million or more, is the buyer's cost, as is the buyer's own financing and title cost on a condo.
What this means for sellers in Riverdale
Riverdale's market rewards accurate pricing and punishes guesswork. According to Redfin, Riverdale's median sale price was about $383,000 over the three months through September 2026, roughly flat year over year, homes took a median of 82 days to sell, and 39.3% of listings had a price drop. That is a market where buyers take their time, compare buildings carefully, and walk away from apartments that look overpriced against the building's last few sales.
In my experience working with sellers in Riverdale, the costs above rarely change the decision to sell. They change the strategy. A seller who knows their flip tax and transfer taxes early can price with confidence, decide what preparation is worth it, and negotiate from a clear bottom line. A seller who learns those numbers at contract tends to negotiate defensively.
How to protect your proceeds
- Get your building's documents now. The proprietary lease, house rules, recent financial statements and the flip tax policy. Buyers and their attorneys will ask for them, and having them ready shortens the process.
- Ask for a written net sheet before choosing a price. It should start from recent sales in your building and line, and subtract every cost above.
- Watch the $500,000 line. The NYC transfer tax rate jumps from 1% to 1.425% above $500,000. On a sale near that number, the difference is worth discussing when you set the price.
- Prepare the board package early. Most Riverdale co-op deals that fall apart do so at the board stage. I review every buyer's financials before their package goes to the board.
- Talk to your accountant about capital gains. Many long-time owners qualify for the federal home-sale exclusion, but the details matter.
If you would like a written net sheet for your apartment or house, I prepare one for Riverdale sellers at no cost, along with a comparative market analysis built from live MLS data. You can also run your own numbers with the net proceeds calculator.
Sources: Hauseit, NYC and NYS Transfer Tax for Sellers; Redfin, Riverdale housing market, September 2026. Riverdale medians compiled by Rafael Barbosa from MLS data, September 2026. General information only, not legal or tax advice.
Frequently asked questions
What are seller closing costs in the Bronx?
Bronx sellers pay the NYC Real Property Transfer Tax of 1% on sales of $500,000 or less and 1.425% above that, plus the New York State transfer tax of 0.4%. On top of transfer taxes come the seller's attorney, brokerage commission, any co-op flip tax and building processing fees.
Do co-op sellers pay NYC transfer tax?
Yes. The NYC Real Property Transfer Tax applies to co-op sales as well as condos and houses, and the seller typically pays it. Co-op sellers in Riverdale should also budget for their building's flip tax if it has one.
How much is the flip tax in Riverdale co-ops?
Many Riverdale co-ops charge a flip tax of 1% to 3% of the sale price, though each building sets its own policy and some calculate it differently. Your managing agent or the proprietary lease will state the exact terms.
Does the seller pay the mansion tax in NYC?
No. New York's mansion tax applies to residential purchases of $1 million or more and is paid by the buyer, not the seller.
How do I estimate what I will net from selling my Riverdale apartment?
Start with a price from recent sales in your building, then subtract transfer taxes, flip tax, commission, attorney fees, building fees and your loan payoff. Rafael Barbosa prepares a written net sheet for Riverdale sellers before listing, at no cost.
Rafael Barbosa is a Licensed Real Estate Salesperson with Compass with 14+ years of experience and 500+ closed transactions in Riverdale, East Harlem, Yonkers, Colonial Heights, Tuckahoe and Bronxville, with deep experience guiding sellers through the co-op board process. He works in English and Spanish. Reach him at 914-430-0440 or rafael@compass.com.
