RE SALESPERSON - Compass
Manhattan, New York
Affordability and Closing Costs for 244 Madison Avenue, Apt 5-H
244 Madison Avenue is a two-bedroom Midtown South Co-op that is selling for $1,099,000. Purchasing a NYC co-op can be a tricky proposition which can involve high closing costs and lots of money down. Generally speaking, you’ll be required to put down at least 20% or $54,950 for a property like this one. Luckily for you, Co-op closing costs are typically going to be quite a bit lower than those for condos, townhouses, or other types of real property.
As this apartment at 244 Madison Avenue is priced at $1,099,000 you’ll also need to pay a mansion tax of $10,990 if you purchase this co-op. NYC recently introduced a new progressive mansion tax, which applies to all properties that sell above $1 million. For homes selling between $1 and 1.99 Million the rate is only 1%, but that goes up to 3.9% for properties that sell for more than $25 Million.
Are you interested in saving a boatload of money when you purchase 244 Madison Avenue, Apt 5-H? You can save up to $21,980 with a 2% buyer broker commission rebate when you find your home on PropertyClub.
This 1000 sqft two-bedroom co-op in Midtown South is brought to you by Jeff, a licensed salesperson with Compass. To schedule a private showing or to get more information on 244 Madison Avenue, Apt 5-H you can reach Jeff at +19175338540.