570 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.
$1,050,000
Condo429 Kent Avenue #632
Williamsburg
Active
$1,050,000
Co-op375 Clinton Street #GARDEN
Carroll Gardens
Active
$1,050,000
Condo194 BAINBRIDGE Street #206
Stuyvesant Heights
Active
$1,049,950
Multi Family2819 ALBEMARLE Road
Flatbush
Active
$1,049,888
Multi Family34 CORBIN Place
Brighton Beach
Active
$1,049,000
Condo17 Dodworth Street #1
Bushwick
Active
$1,049,000
Condo34 N 7th Street #5D
Williamsburg
Active
$1,049,000
Condo12 LAWTON Street #1
Bushwick
Active
$1,040,000
Condo445 5th Avenue #3-A
Park Slope
Active
$1,035,000
Condo445 5th Avenue #5-A
Park Slope
Active
$1,025,000
Condo1230 PUTNAM Avenue #1
Bushwick
Active
$1,025,000
Co-op195 WILLOUGHBY Avenue #1415
Clinton Hill
Active
$1,025,000
Condo1 HANSON Place #13C
Fort Greene
Active
$1,025,000
Condo701 PROSPECT Place #404
Crown Heights
Active
$1,025,000
Condo87 WINTHROP Street #3B
Prospect Lefferts Gardens
Active
$1,000,000
Co-op414 3RD Street #3R/4R
Park Slope
Active
$1,000,000
Multi Family170 E 96TH Street
Brownsville
Active
$1,000,000
Multi Family937 E 95TH Street
Canarsie
