Why this matters

The flip tax is one of the most-discussed operational policies at the closing table. The structural question — who pays, buyer or seller — materially affects both sides of every transaction. On a $5 million purchase, a 2% buyer-paid flip tax shifts $100,000 of cost onto the buyer; a 2% seller-paid flip tax shifts the same $100,000 onto the seller.

The Manhattan trophy prewar tier is heavily weighted toward buyer-paid flip taxes, anchoring the buyer's purchase cost. The minority of cooperatives with seller-paid flip taxes are structurally distinguishing — typically more buyer-accommodating, and they shape the corridor pricing context. This guide indexes them.

Seller-paid flip tax buildings on theroeblingteam.com

Park Avenue / Fifth Avenue

• 2 Sutton Place South — Emery Roth & Sons 1938; 2.5% seller-paid flip tax (Marilyn Monroe, Consuelo Vanderbilt Balsan, Michael Bloomberg)
• 140 Riverside Drive (The Normandy) — Roth 1939; seller-paid flip tax (NYC individual landmark; Herman Wouk)
• 870 Fifth Avenue — Hohauser 1949; 3% seller-paid flip tax

Carnegie Hill cross-streets

• 131 East 93rd Street — Braun 1923; 2% seller-paid flip tax (uncommon in Carnegie Hill where buyer-paid is the norm); permitted pied-à-terre

Split buyer/seller flip taxes

• London Terrace Towers (410 W 23rd Street) — Farrar & Watmough 1930; 2% flip tax split equally buyer/seller

No flip tax buildings

A smaller minority of buildings carry no flip tax at all:

• The Cherbourg (322 Central Park West) — Blum & Blum 1926; no flip tax
• Park Regis (50 East 89th) — Roth & Sons 1974; no flip tax; pied-à-terre NOT allowed
• Most condominiums — standard condominium structure carries no flip tax

Buyer-paid flip tax — the Manhattan trophy default

For context: the Manhattan trophy prewar tier is dominated by buyer-paid flip taxes. Standard structures include 2% buyer-paid, 2.5% buyer-paid, and 3% buyer-paid. Examples:

• 1125 Park Avenue — 2% buyer-paid
• 1115 Fifth Avenue — 2.5% buyer-paid
• 1125 Fifth Avenue — 3% buyer-paid
• 4 East 88th Street — 2% buyer-paid
• 19 East 88th Street — 2% buyer-paid
• 47 East 87th Street — 2% buyer-paid
• 17 East 89th Street — 2% buyer-paid
• 21 East 87th Street — 2% buyer-paid
• 1 East 66th Street — 3% buyer-paid
• 15 East 91st Street — 2.5% buyer-paid (higher than the 2% standard)
• The Saratoga (60 East 88th) — typical 2% buyer-paid

The Roebling Team — flip tax advisory

The flip tax structure is the single most consequential closing-cost variable beyond the mansion tax and transfer tax. We cross-reference the The Roebling Research Library offering plan and house rules for every building where we have documents — confirming the current flip tax structure and rate against the most recent Board resolution.

For sellers: a seller-paid flip tax must be modeled explicitly into the net-proceeds calculation before listing price strategy is set.

For buyers: a buyer-paid flip tax must be added to the all-in closing cost stack alongside mansion tax (1% to 3.9% depending on price band), title insurance, mortgage recording tax (for financed acquisitions), broker commission, attorney fees, and the standard NYC closing cost stack.

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Corey Cohen · The Roebling Team at Compass 646.939.7375 · c.cohen@compass.com

See also: NYC Mansion Tax Calculator · Buyer Closing Cost Calculator

Sources: The Roebling Research Library (offering plans, house rules, financial statements, board minutes, internal transaction records); publicly recorded NYC building data.