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
$1,395,000
Condo529 COURT Street #404
Carroll Gardens
Active
$1,395,000
Condo6917 SHORE Road #4A
Bay Ridge
Active
$1,395,000
Condo535 Dean Street #410
Prospect Heights
Active
$1,390,000
Condo757 Flatbush Avenue #601
Flatbush
Active
$1,390,000
Condop1 CITY Point #26D
Downtown Brooklyn
Active
$1,385,000
Multi Family354 MONTAUK Avenue
East New York
Active
$1,385,000
Condo133 Water Street #4E
Dumbo
Active
$1,385,000
Condo373 RUTLAND Road #4A
Prospect Lefferts Gardens
Active
$1,380,000
Multi Family324 WEIRFIELD Street
Bushwick
Active
$1,375,000
Condo10 Nevins Street #25-A
Downtown Brooklyn
Active
$1,375,000
Condo701 PROSPECT Place #301
Crown Heights
Active
$1,375,000
Condo695 Monroe Street #4
Bedford-Stuyvesant
Active
$1,375,000
Single Family Residence1016 71st Street
Dyker Heights
Active
$1,375,000
Condo179 20th Street #10-B
Greenwood Heights
Active
$1,375,000
Condo373 RUTLAND Road #3B
Prospect Lefferts Gardens
Active
$1,375,000
Single Family Residence176 10TH Street
Gowanus
Active
$1,370,000
Condo85 FLEET Street #58E
Downtown Brooklyn
Active
$1,360,000
Condo216 20th Street #1B
Greenwood Heights
Active
$1,355,000
Duplex2811 Brown Street
Sheepshead Bay
Active
$1,355,000
Condo85 FLEET Street #56A
Downtown Brooklyn
Active
$1,350,000
Co-op220 BERKELEY Place #6DE
Park Slope
Active
$1,350,000
Condo74 DIAMOND Street #3A
Greenpoint
Active
$1,350,000
Multi Family1250 E 57TH Street
Flatlands
Active
$1,350,000
Multi Family71 DE SALES Place
Bushwick
