Why List with MCNY?

63%

The percentage of listings sold by MCNY that have been listed previously by a Broker and/or Homeowner.

84%

The percentage of listings sold by MCNY that are located throughout Midtown Manhattan and Turtle Bay.

89%

The percentage of listings sold by MCNY that have set sale records.

We’re Consistently Selling For More…

250 East 40th Street #10C

“We Achieved the Highest Price Per Sqft Ever At The Highpoint” – Midtown Mike

Built in 1988 and with hundreds of apartments sold over the last 28 years, not once has a sale reached $1,342 per square foot. Not until Midtown Mike had the opportunity to market and sell apartment 10C. We have once again achieved the highest price per square foot a building has attained and we are extremely proud. – “Midtown Mike”

When the time comes to sell your home, Michael Charles New York will put our proven track record and marketing prowess to work to attract the most qualified buyers, achieve the highest price, and make the overall experience enjoyable and satisfying.

When partnered with Michael Charles New York you will have a distinct advantage in the quality of both the service and overall results you receive. We know how to best showcase your property and will disseminate your property to over 500 websites and to the brokerage community alike. Partnering with MCNY you will receive 100 percent focus and dedication to ensuring you have a high sale price and a smooth transaction.

Once you sign a listing agreement to let Michael Charles New York represent your property exclusively, we will work extremely closely with you from start to finish of the sales process through to closing.

Price to Sell

A well-priced property, based on what the current market will bear, is the first and most important step to a successful sale and to ensuring that you get the best return on your investment. We draw upon our knowledge and conduct extensive research on current market conditions, over many platforms, to provide you with a complete market analysis of comparable properties for sale in your price range, neighborhood and property type category.

Customized Marketing

Once pricing is established, we will create a personalized marketing plan for your specific residence and lifestyle situation. MCNY will implement a targeted campaign to reach the widest possible pool of qualified buyers.

Presentation is Paramount

We help you prepare your property for viewings to maximize appeal as well as your sale price, and perform professional staging, if necessary, to bring out your property’s best features, and showcase it in the best possible light.

Getting the Word Out

MCNY immediately spreads the word about your property to the entire New York City brokerage community so they can come preview it and start showing it to their customers. We also announce the listing directly to well-qualified buyers in New York, the U.S. and abroad using our vast database and extensive industry contacts. Our aggressive and targeted marketing efforts include prominently displaying your listing with the best photographs in the industry and a professionally-written description on our website, in addition to syndicated marketing on some of the most visited search engine real estate and consumer sites as well as high end print advertising and building mailings.

Showing Your Home

When your property is ready for showing, MCNY arranges separate open houses for brokers and for customers which are widely publicized online and print. We coordinate and oversee all open houses. We arrange individual showings for brokers, their customers and ours, with all appointments scheduled at your convenience.

Constant Communication

We keep you constantly updated on feedback from brokers and their customers, as well as all developments regarding the sale of your property weekly, every Monday. Agents of Michael Charles New York have experience in all areas of the real estate transaction, from bid management to liaising with attorneys and keeping all information confidential and flowing to ensure a prompt contract signing and closing.

Expert Board Package Preparation

MCNY’s knowledge of buildings and boards is vital in our ability to assemble and submit surefire board packages for approval.

Closing Costs

For the Seller

Application/Waiver Fee $500 – $1,000
Fee for Mortgage Pay-Off $175 – $250
Real Estate Tax and Common Charge Adjustment Not really a “closing cost”. Seller reimburses Purchaser for the portion of maintenance and/or Real Estate Taxes that the Seller failed to pay prior to Closing
General
Brokerage Commission 6% of Sales Price
Seller’s Attorney’s Fee Consult your attorney
Move-Out Deposit – refundable $500- $1,000
Move-Out Fee – non-refundable $250- $1,000
NYC Real Property Transfer Tax 1% of Sales Price – $500,000 or less
1.425% of Sales Price – greater than $500,000
Commercial/Bulk Sales Rate If 2 or more un-attached units are sold simultaneously to the same buyer, the commercial transfer tax rate applies – 1.425% of the Sales Price if $500,000 or less or 2.625% of Sales Price if greater than $500,000
NYS Transfer Tax 0.4% of Sales Price
NYS Estimated Capital Gains Tax 8.97% of estimated gain – paid at closing unless (i) Seller is a NY State resident at time of sale, or (ii) property was Seller’s primary residence for 2 out of the last 5 years, or (iii) Seller has set up a 1031 Tax-Deferred Exchange (investment property only)
Transfer Tax Filing Fee $75
Federal Withholding Tax (FIRPTA) 10% of Sale Price if Seller is a non-resident foreigner
Title Insurance – Owner’s Policy Approximately $4 per $1,000 of insurance (fee regulated by statute) plus various search and recording fees totaling an additional $1,000
Title Insurance – Mortgage Only applies if the Purchaser is obtaining financing – variable depending on loan amount
Real Estate Tax and Common Charge Adjustment Not really a “closing cost”. Purchaser reimburses Seller for the portion of common charges and/or Real Estate Taxes that the Seller has pre-paid
New York State Mortgage Recording Tax 1.80% if mortgage amount is less than $500,000
1.925% if mortgage amount is greater than $500,000
Title Closer Gratuity $250
Bank Fees (only applicable if Purchaser is obtaining a loan)
Includes items such as discount points, appraisal fee, origination fee, credit report fee, document preparation fee, courier fee, application fee Variable depending on lender and loan product
Bank Attorney fee $700- $950
General
Move-In Deposit – refundable $500- $1,000
Move-In Fee – non-refundable $250- $1,000
Purchase Application Fee $500- $1,000
Mansion Tax 1% of Purchase Price if $1,000,000 or more
Purchaser’s Attorney Fee Consult your attorney
New Construction
Sponsor Attorney’s Fee Consult your attorney
Sponsor’s NYC and NYS Transfer Taxes Calculated and added to the Purchase Price (to arrive at the tax) and then recalculated based upon the grossed-up price (may trigger Mansion Tax)
Working Capital Fund Contribution 1 – 2 months of Common Charges

For The Seller

Flip Tax Variable depending on the building (if applicable)
Stock Transfer Tax $0.05 per share
Transfer Agent Fee (Coop Attorney’s Fee) $500 – $750
Maintenance Adjustment Not really a “closing cost”. Seller reimburses Purchaser for the portion of maintenance that the Seller failed to pay prior to Closing
Brokerage Commission 6% of Sales Price
Seller’s Attorney’s Fee Consult your attorney
Move-Out Deposit – refundable $500- $1,000
Move-Out Fee – non-refundable $250- $1,000
NYC Real Property Transfer Tax 1% of Sales Price – $500,000 or less1.425% of Sales Price – greater than $500,000
Commercial/Bulk Sales Rate If 2 or more un-attached units are sold simultaneously to the same buyer, the commercial transfer tax rate applies – 1.425% of the Sales Price if $500,000 or less or 2.625% of Sales Price if greater than $500,000
NYS Transfer Tax 0.4% of Sales Price
NYS Estimated Capital Gains Tax 8.97% of estimated gain – paid at closing unless (i) Seller is a NY State resident at time of sale, or (ii) property was Seller’s primary residence for 2 out of the last 5 years, or (iii) Seller has set up a 1031 Tax-Deferred Exchange (investment property only)
Transfer Tax Filing Fee $100
Federal Withholding Tax (FIRPTA) 10% of Sale Price if Seller is a non-resident foreigner
Payoff Bank Attorney Fee $375 – $500
UCC-3 Filing Fee $75 – $125

For The Buyer

Cooperative Application Fee $500 – $1,000
Judgment and Lien Search $250 – $350
Recognition Agreement Fee $150 – $250
Maintenance Adjustment Not really a “closing cost”. Purchaser reimburses Seller for the portion of maintenance that the Seller for
Bank Fees (only applicable if Purchaser is obtaining a loan)
Includes items such as discount points, appraisal fee, origination fee, credit report fee, document preparation fee, courier fee, application fee Variable depending on lender and loan product
Bank Attorney fee $700- $950
UCC-1 Filing fee $75- $125
General
Move-In Deposit – refundable $500- $1,000
Move-In Fee – non-refundable $250- $1,000
Purchase Application Fee $500- $1,000
Mansion Tax 1% of Purchase Price if $1,000,000 or more
Purchaser’s Attorney Fee Consult your attorney
New Construction
Sponsor Attorney’s Fee Consult your attorney
Sponsor’s NYC and NYS Transfer Taxes Calculated and added to the Purchase Price (to arrive at the tax) and then recalculated based upon the grossed-up price (may trigger Mansion Tax)
Working Capital Fund Contribution 1 – 2 months of Maintenance