Want more space, but don’t want to pay the mansion tax? Then do what these crafty buyers have done: buy something in Brooklyn or Queens for just under $1M and save yourself the $10,000 you would owe the state for crossing the mansion tax threshold.
If you can manage tenants, buy a multi-family property like many of the buyers here, and rent out some of your units so your tenants help you pay down your mortgage.
Marketproof took a look at closings that took place between December 16, 2019, and January 16, 2020, and charted the results. Below we’ve provided the information behind the transactions shown in the chart, including the property’s address, unit number, sale price, size (Sq ft), property type, as well as who represented the seller, who provided financing. Click the link provided for even more information.
1187 Broadway
Neighborhood: Bushwick, Brooklyn
Price: $999,999
Size (Sq ft): 4,500
Type: Multi-family
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153 Taylor Street
Williamsburg, Brooklyn
$999,500
Size (Sq ft): 3,680
Type: Multi-family
Lender: TCF National Bank
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130 Whitman Drive
Neighborhood: Mill Basin, Brooklyn
Price: $995,000
Size (Sq ft): 3,220
Type: Single-Family
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1605 Nostrand Avenue
Neighborhood: Flatbush, Brooklyn
Price: $999,000
Size (Sq ft): 3,100
Type: Multi-family
Agent: Allison Mcnally
Financing: Empire State Bank
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3005 Bedford Ave
Neighborhood: Flatbush, Brooklyn
Price: $995,000
Size (Sq ft): 2,918
Type: Multi-family
Financing: FM Home Loans
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630A East 31st Street
Neighborhood: Flatbush, Brooklyn
Price: $999,999
Size (Sq ft): 2,840
Type: Multi-family
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405 East 29th Street
Neighborhood: Flatbush, Brooklyn
Price: $995,000
Size (Sq ft): 2,772
Type: Multi-family
Agents: Linh Ho, Nicholas Ho
Financing: Citizens Bank
Link >>
2657 East 28th Street
Neighborhood: Sheepshead Bay, Brooklyn
Price: $999,000
Size (Sq ft): 2,560
Type: Multi-family
Agent: Daniel Stelatos
Financing: Contour Mortgage
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1449 70th street
Neighborhood: Bensonhurst, Brooklyn
Price: $998,000
Size (Sq ft): 2,415
Type: Multi-family
Financing: Cathay Bank
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15440 10th Avenue
Neighborhood: Beechhurst, Queens
Price: $999,000
Size (Sq ft): 2,346
Type: Single-family
Agent: Maureen Ramsbottom
Financing: TD Bank
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10413 92nd Avenue
Neighborhood: Richmond Hill, Queens
Price: $999,000
Size (Sq ft): 2,340
Type: Multi-family
Agent: Maureen Ramsbottom
Financing: First IC Bank
Link >>
11118 39th Avenue
Neighborhood: North Corona, Queens
Price: $999,000
Size (Sq ft): 1,881
Type: Multi-family
Agents: Ming Zheng, Maggie Yeung
Financing: East West Bank
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1784 West 5th Street
Neighborhood: Bensonhurst, Brooklyn
Price: $998,000
Size (Sq ft): 1,878
Type: Single-family
Agents: Billy E. Apter, Vito Angelo
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4814 39th Street
Neighborhood: Sunnyside, Queens
Price: $998,000
Size (Sq ft): 1,832
Type: Multi-family
Agent: John W. Keane
Financing: Navy Federal Credit Union
Link >>
1531 85th Street
Neighborhood: Bensonhurst, Brooklyn
Price: $999,999
Size (Sq ft): 1,824
Type: Multi-family
Agent: Lawrence Wong
Financing: Citibank
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73 87th Street
Neighborhood: Fort Hamilton, Brooklyn
Price: $999,999
Size (Sq ft): 1,564
Type: Single-family
Financing: JP Morgan Chase
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197 Spencer St, Apt 1A
Neighborhood: Bedford Stuyvesant, Brooklyn
Price: $999,000
Size (Sq ft): 1,500
Type: Condo
Agent: Susie Park, Andrew Chung
Financing: Wells Fargo
Link >>
2011 West 12th Street
Neighborhood: Gravesend, Brooklyn
Price: $998,000
Size (Sq ft): 1,440
Type: Multi-family
Agent: Jan Ha, Minh Duong
Link >>
1172 79th Street
Neighborhood: Dyker Heights, Brooklyn
Price: $999,000
Size (Sq ft): 1,440
Type: Multi-family
Link >>
2136 57th Street
Neighborhood: Mapleton, Brooklyn
Price: $999,000
Size (Sq ft): 1,392
Type: Single-family
Link >>
637 78th Street
Neighborhood: Bay Ridge, Brooklyn
Price: $995,000
Size (Sq ft): 1,368
Type: Single-family
Agent: Michael Davis
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14112 Cronston Avenue
Neighborhood: Belle Harbor, Queens
Price: $999,000
Size (Sq ft): 1,276
Type: Single-family
Financing: CMG Mortgage
Link >>
555 West 23rd Street, Apt N10F
Neighborhood: West Chelsea, Manhattan
Price: $999,000
Size (Sq ft): 1,080
Type: Condo
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404 Grand Street, Apt 2
Neighborhood: East Williamsburg, Brooklyn
Price: $995,000
Size (Sq ft): 1,008
Type: Condo
Agents: Philip Fatta, Ryan Serhant, Alexandra Fatta
Link >>
100 West 39th street, Apt 36H
Neighborhood: Midtown South, Manhattan
Price: $999,000
Size (Sq ft): 922
Type: Condo
Agents: Lee B. Sender, Hui-wen Milligan
Financing: Centennial Bank
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480 West 65th Street, Apt 20A
Neighborhood: Lincoln Square, Manhattan
Price: $995,000
Size (Sq ft): 914
Type: Condo
Agents: Alexandra Bellak, Abe Botha
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4 West 4th Street, Apt 215C
Neighborhood: Greenwich Village, Manhattan
Price: $998,500
Size (Sq ft): 900
Type: Co-op
Agent: Joshua Lieberman
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44 East 72nd Street, Apt 2D
Neighborhood: Lenox Hill, Manhattan
Price: $995,000
Size (Sq ft): 850
Type: Condo
Agent: Michael S. Lorber, Alexander Boriskin
Link >>
11-12 44 Drive, Apt 5C
Neighborhood: Hunter’s Point, Queens
Price: $995,000
Size (Sq ft): 804
Type: Condo
Agents: Alexander Pereira, Juan E. Rosa
Financing: Wells Fargo
Link >>
220 Riverside Blvd, Apt 4D
Neighborhood: Lincoln Square, Manhattan
Price: $999,999
Size (Sq ft): 775
Type: Condo
Link >>
720 9th Ave, Apt 5OO
Neighborhood: Clinton, Manhattan
Price: $999,000
Size (Sq ft): 769
Type: Condo
Financing: Wells Fargo
Link >>
Link to Chart: https://www.amny.com/wp-content/uploads/2020/01/No-Mansion-Tax-Here-What-Sold-for-Just-Under-1M.png
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