257 Central Park West, Apt 4FGH

257 Central Park West is a four-bedroom Upper West Side Co-op that is selling for $8,110,000.Buying a coop in NYC 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 $405,500 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 257 Central Park West is priced at $8,110,000 you’ll also need to pay a mansion tax of $182,475 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 257 Central Park West, Apt 4FGH? You can save up to $162,200 with a 2% buyer broker commission rebate when you find your home on PropertyClub.