Homes Under A Million To Avoid The Real Estate Transfer Tax
It can be nerve-wracking to buy real estate in NYC. One of the constituents can be caused by the mansion tax: A real estate transfer tax imposed by New York State in 1989 is imposed on sale prices of $1 million or more. Thankfully, there are a lot of luxurious homes on the market for under $1M that don’t trigger that tax and offer tons of options for buyers looking to spend the end of the year in their own NYC pad.
Below are a few great options:
400 East 56th Street, Apt 17M
1 bedroom, 1 bath at, listed by Andrea E. Wernick of Warburg for $649,000. This beautifully spacious home located in Midtown Manhattan will have you in awe. The dining and living room areas are separated from the bedroom by French doors giving a more elegant vibe. The apartment also has a marble windowed bathroom, beautiful custom moldings, new wood floors and 4 large walk in closets. Amenities, along with electricity and gas, are included. A beautiful rooftop and pool are great for hosting parties. This super luxurious apartment is listed as $649,000.
200 East 65th Street, Apt. 16B
1 bedroom, 1 bath listed by John Gomes and Fredrik Eklund of Douglas Elliman for $945,000. Another Upper East Side condo located on the 16th floor with windows that offer great sunlight, high ceilings, good closet space, washer and dryer that are also on the floor. This luxurious condo has a reputation of being one of the most sought after and upscale condos offering many amenities such as a private driveway, garage, concierge, doorman, health club with a year-round glass-domed swimming pool and roof deck.
235 East 87th Street, Apt 11B
1 bedroom, 1 bath, by Rachel Ostow Lustbader of Warburg for $995,000. This newly renovated build located on the upper east side features a spacious living room and bedroom that face south with sunny open views. The eye-catching bathroom features a new sink, bathtub, toilet, and vanity, ceramic floor tiles and porcelain wall tiles. Electricity is included in the maintenance, and the building is conveniently located around the corner from Whole Foods, movie theater, and the Second Avenue subway, and is close to the 4,5,6 lines, all the restaurants, boutiques and goods and services that the Upper East Side has to offer.
464 West 44th, Unit 4J
1 bedroom, 1 bath, listed by Michael Franco of Compass for $749,000. Close to Central Park, this listing is placed in the middle of Hell’s Kitchen where you will have access to tons of new and established resautrants, the theater district and all modes of transportation.This modern build has a spacious living/dining, and bedroom. The oversized windows have great views of Manhattan and leaves the space feeling bigger and brighter. The construction of the bathroom gives a spa-like feeling. This bright but quiet south facing apartment will make it hard to leave home.
30 Orchard Street, Apt. 5E
1 bedroom, 1 bath at by Linda Ho at Nest Seekers for $940,000. This condo located on the Lower East Side is a rarity. It is a stylish, bright condo with a large balcony that faces east with floor-to-ceiling windows with lovely neighborhood views, extra high ceilings, deep window sills, and a large terrace. Designed by an award-winning team from Ogawa Depardon Architects, the lovely condo has crystallized glass countertops and a spa-like Zuma soaking tub. It is in the middle of a lovely residential street yet surrounded by on-trend restaurants, cafes, galleries, and shops.
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