578 properties priced between $1M and $2M
Buying a $1M to $2M apartment in NYC puts the purchase in the first mansion tax bracket: 1.00% of the full price, paid by the buyer at closing, so a $1,000,000 contract owes $10,000 and a $1,500,000 contract owes $15,000. A contract at exactly $2,000,000 moves into the 1.25% bracket and owes $25,000, while a $999,999 purchase owes no mansion tax at all.
Co-ops and condos in this band follow different rules. A co-op purchase is a transfer of shares that needs board approval, and the board reviews the buyer's full financial package before it votes; a condo generally requires no board approval and allows more flexibility for investors and pied-a-terre buyers. The mansion tax applies to both, since there is no co-op exemption.
| Purchase price | Mansion tax rate | Arithmetic | Mansion tax (buyer) |
|---|---|---|---|
| $999,999 | 0% | Below the $1,000,000 threshold | $0 |
| $1,000,000 | 1.00% | $1,000,000 x 0.0100 | $10,000 |
| $1,500,000 | 1.00% | $1,500,000 x 0.0100 | $15,000 |
| $1,990,000 | 1.00% | $1,990,000 x 0.0100 | $19,900 |
| $2,000,000 | 1.25% | $2,000,000 x 0.0125 | $25,000 |
The $1M to $2M band is the deepest segment of the Brooklyn sale market, spanning one and two bedroom condos in full-service buildings, larger pre-war co-ops, and some townhouse units. Every purchase at or above $1M triggers the NYC mansion tax, which starts at 1% of the purchase price in this band and is paid by the buyer at closing.
I work with buyers across all five boroughs at this price point. Read the mansion tax guide, or use the form below to start a private search.
Tell me the price range and what you are after in Brooklyn. I read every request myself, and nothing you write here is shared with a listing broker without your say.
Active
$1,475,000
Condo170 WEST Street #302
Greenpoint
Active
$1,475,000
Condo319 SCHERMERHORN Street #18B
Downtown Brooklyn
Active
$1,475,000
Mixed Use1452 FLATBUSH Avenue
Flatbush
Active
$1,470,000
Condo386 KOSCIUSZKO Street #1B
Stuyvesant Heights
Active
$1,455,000
Condo85 FLEET Street #55H
Downtown Brooklyn
Active
$1,450,000
Condo482 HANCOCK Street #1GDN
Stuyvesant Heights
Active
$1,450,000
Condo42 MAIN Street #2B
DUMBO
Active
$1,450,000
Condo440 Kent Avenue #18E
Williamsburg
Active
$1,450,000
Rental20 AVE T #BLDG
Gravesend
Active
$1,450,000
Condo29 HURON Street #8GW
Greenpoint
Active
$1,450,000
Multi Family326 IRVING Avenue
Bushwick
Active
$1,450,000
Single Family Residence217 E 96th Street #Multi
Brownsville
Active
$1,450,000
Condo383 CARLTON Avenue #7S
Fort Greene
Active
$1,450,000
Co-op654 CARROLL Street #4L
Park Slope
Active
$1,450,000
Condo701 PROSPECT Place #601
Crown Heights
Active
$1,450,000
Single Family Residence131 87TH Street
Fort Hamilton
Active
$1,450,000
Condo87 Smith Street #9D
Boerum Hill
Active
$1,450,000
Condo91 Diamond Street #PHB
Greenpoint
Active
$1,448,000
Multi Family149 LOTT Street
Flatbush
Active
$1,445,000
Condo100 Scholes Street #4-A
Williamsburg
Active
$1,445,000
Condo271 McDonald Avenue #3B
Windsor Terrace
Active
$1,445,000
Condo34 N 7th Street #8-L
Williamsburg
Active
$1,425,000
Condo85 FLEET Street #70E
Downtown Brooklyn
Active
$1,425,000
Condo104 Clifton Place #2C
Clinton Hill
