Tips for Selling Your NYC Apartment - 2025 Guide

When you took your first steps into the exclusive "apartment owner in NYC" club, the experience and effort you put in likely left a lasting impression.

All the hurdles you once crossed on the way to acquiring your first NYC apartment will be a cornerstone of helping you navigate the new hurdles on your way to selling that unit as you start a new chapter in your life, post-apartment sale.

How you sell and the steps you’ll go through can depend significantly on the type of apartment you’re selling and how you decide to sell. Want to go lone-wolf and handle everything as a For Sale By Owner listing while juggling co-op boards all on your own? The reward is a commission-free sale with potential for significant profit, but at the cost of heavyweight responsibilities. 

Or maybe you just want to kick back and relax while an expert NYC agent handles your condo sale for you, even if that means paying a potentially hefty commission?

Each seller's unique circumstances will determine the best route for them. But every apartment owner considering listing their unit for sale can benefit from having a step-by-step guide to help them organize what tends to be a tedious process.

Below, the team from Prevu Real Estate will guide any New York City seller through the most crucial details they’ll need to understand before selling their NYC apartment.

How to sell your apartment in NYC

• Understand the real estate market
• Selling a condo, co-op, or townhouse
• Deciding when to sell
• Work with an experienced NYC agent
• Price your apartment strategically
• Preparing your unit for sale
• Showings and open houses
• Get familiar with the rules of your building
• Be ready to negotiate
• Navigating the closing process

Understand the real estate market

With inventory that shifts block by block and seasonal fluctuations that can make or break a deal, understanding the nuances of the NYC real estate market is crucial. 

Start by looking at inventory trends in your neighborhood. Are apartments like yours selling quickly, or sitting on the market for months? Take note of the price points that are changing and which ones are remaining stable. You’ll also want to keep an eye on broader market trends, such as mortgage rates, buyer demand, and changes in remote work patterns—all of which can influence how quickly your apartment sells.

And don’t underestimate the power of seasonality in New York City. Spring and early fall are typically the hottest times to list, while the holidays and the dead of summer tend to be quieter. Timing your sale for peak buyer activity can mean the difference between multiple offers and a lonely listing.

Selling a condo, co-op, or townhouse

Not all NYC apartments (or homes) are created equal, and the way you sell your place depends heavily on what type of property you own. 

Selling a condo? You’ve got a bit more flexibility. Selling a co-op? Get ready for extra paperwork - and rules - lots of them. Townhouse? Welcome to the land of single-family charm and typically no board approval process.

Co-ops make up about 75% of NYC’s housing stock, and selling one means dealing with board approval, stringent qualifications for prospective buyers, and often, long application timelines and interviews. If your building is known for being picky or notoriously slow, it’s essential to set buyer expectations from the start. A great listing agent will help navigate the process and prep your board package in advance to avoid any hiccups.

Condos offer a more streamlined experience, with fewer hoops for buyers to jump through. However, condos often come with higher monthly common charges, so make sure to highlight the amenities and building perks in your listing.

If you’re selling a townhouse, congratulations—you’re in a special category. You typically won’t need board approval (unless the townhouse falls under the management of a homeowner’s association), and you can market to buyers who crave privacy and space. Just be sure to prepare for slightly longer listing times, as townhouse buyers tend to move more cautiously through the decision and inspection process.

Deciding when to sell

Figuring out the right timing starts with asking the right questions. 

Are you relocating for work? Need more space? Are market conditions just right? Am I economically prepared for relocation? Whatever the reason, make sure you’re truly ready to say goodbye to your apartment.

Financially, you’ll want to make sure you’ve built up enough equity to make the sale worthwhile. After factoring in commissions for real estate brokerage services, closing costs, and potential capital gains taxes, will the proceeds be enough for your next chapter? If the math isn’t quite adding up, it might make sense to wait and reassess in a few months or years.

Also, consider market conditions. If you bought at the top of the market and prices have since dipped, selling now might mean taking a loss. Conversely, if inventory is low and buyers are circling like hungry pigeons in Central Park, it could be your moment to maximize your potential gain. 

Consult with a trusted agent who understands your building and neighborhood—they can help you read the signs and make sure they align with your goals.

Work with an experienced NYC agent

Between co-op board packages, condo rules, and buyer financing nuances, it pays to have someone on your side who knows this concrete jungle inside and out. This is where a seasoned NYC real estate agent becomes your secret weapon.

Don’t rush into a partnership with the first agent you meet, however. You want someone with experience in your building type (e.g., co-op, condo), who understands your specific neighborhood, and knows how to price and market apartments like yours. Ask for their recent sales record, marketing approach, and how they plan to help you navigate board requirements.

And don’t forget to talk dollars and cents. With recent commission structure changes making headlines, you’ll want a clear understanding of your agent’s fee, what’s included, and how flexible they may be. Some brokerages even offer alternatives, such as flat-fee services or partial representation, worth exploring if you're trying to maximize your profits.

Price your apartment strategically

One of the most powerful levers in the selling process is setting a strategic listing price from the get-go. 

Price it too high, and you’ll scare off serious buyers. Too low, and you might leave money on the table. But get it just right? That’s when the magic can happen—multiple offers, competitive bidding, and potentially a higher final sale price.

To arrive at that "just right" number, start with a comparative market analysis (CMA). Your agent should pull comps—recent sales of similar apartments in your building and neighborhood. But don’t stop at raw numbers. NYC pricing is nuanced. A renovated kitchen, a better view, higher floor, lower monthly maintenance, or an in-unit washer/dryer can mean thousands of dollars in difference in value.

Once you’ve set a price, be open to reassessing. If traffic is low after the first few weeks on the market, or if you receive feedback that the price seems steep, it may be time for an adjustment. Don’t let your apartment linger. The longer it sits, the more buyers start to wonder why it hasn’t sold, which can become a problem of its own.

Preparing your unit for sale

Buyers aren’t just evaluating square footage when they first see an apartment; they’re considering a lifestyle. So, before you even think about scheduling showings, your space needs to be an open canvas that buyers can use to envision their future home. And for that to happen, you need to create a balanced, neutral staging for your apartment.

Start by decluttering every room. Remove personal items, excess furniture, and anything that doesn’t make the space feel open and inviting. In tiny NYC spaces, even a few too many books or bulky furniture can make your apartment feel cramped. Consider renting a storage unit to tuck away anything you don’t need until after the sale.

Once decluttered, it’s time to clean. And we don’t mean a quick vacuum and dusting—we mean an all-hands-on-deck, baseboards-sparkling, windows-gleaming deep clean. If there was ever a time to call in a professional cleaning crew, this is it. After that, think about staging. 

Whether you hire a pro or rearrange your furniture with a bit of creativity, the goal is to make your apartment feel neutral, spacious, and welcoming. Don’t underestimate the power of a few well-placed plants, soft lighting, and freshly laundered linens.

Showings and open houses

It’s really up to you as the seller if you want to be present at every showing or open house, particularly if you are selling on your own. But if you want buyers to feel more comfortable, your agent should handle the responsibility of showing your property and hosting all open houses. 

Create a showing schedule that offers enough flexibility to accommodate buyer demand. Your strategy should include evening weekday showings, weekend open houses, and private tours. Avoid turning down showings—more eyeballs equal more chances to sell.

During open houses, your agent should handle all the logistics, greet potential buyers, and collect feedback. That feedback is invaluable. If multiple buyers say the apartment feels "dark" or "overpriced," it may be time to tweak your lighting or pricing strategy. Always be willing to pivot based on what the market tells you.

Get familiar with the rules of your building

Yes, it’s a drag, but rules are rules. If you’re selling a condo, your building will likely have rules to follow as you get through the selling process. This can mean specific hours for scheduling property tours, restrictions on particular renovations or fixes, (this can be a roadblock if you need to remodel as you prepare your unit for sale), and other requirements that vary from building to building.

If you’re selling a co-op apartment, you must be up to date on how the board operates during a sale. 

Boards can be notoriously meticulous when reviewing potential buyers. While the buyer will carry the burden of putting together the packet, you’ll play a supporting role in ensuring everything goes smoothly.

If requested, expect to provide building documents, financial records, maintenance history, renovation disclosures, and possibly a personal reference for the buyer. The goal is to present a clean, easy-to-review case for why your buyer is financially sound, reliable, and ideally not someone who throws drum-circle parties at midnight.

Timing matters here. Even if you’ve accepted an offer, your deal won’t close until the board gives its blessing, which could take weeks. That means prepping as early as possible, staying responsive, and working with your agent and possibly an attorney to ensure your buyer has all the necessary pieces to get the green light.

Be ready to negotiate

You may have priced your apartment thoughtfully and staged it like a page out of Architectural Digest, but odds are your buyer will still come in with an offer that's not quite in line with what you were hoping for.

This is where your agent’s expertise will shine the most. An experienced broker will know how to handle the back-and-forth: when to stand firm, make a counteroffer, and throw in a little sweetener (like covering a few months of maintenance fees) to close the deal. 

Evaluating the buyer’s financial profile as part of the offer is also essential. A slightly lower bid from an all-cash buyer with no contingencies might be stronger than a higher offer that depends on financing approval or a co-op board’s approval. 

Navigating the closing process

Understanding seller closing costs can be indispensable to pricing your apartment right from the start and understanding your potential proceeds from the real estate transaction.

Let’s start with the big-ticket item: real estate broker commission - typically ranging from 3% to 6%, depending on what you agree to with your listing agent and/or your willingness to offer buyer agent compensation during offer negotiations.

If you’re selling a condo or co-op in a luxury building, you may also face a flip tax imposed by your building, often ranging from 1% to 3% of the sale price depending on the building. And yes, they call it a "flip tax," but really, it’s more of a transaction fee for exiting the building.

Then come the smaller, yet still unavoidable costs: real estate attorney fees, move-out deposits (co-op and condo boards love those), and the NYC transfer tax. 

Sellers of properties over $500,000 will typically pay the city 1.425% of the sale price. On top of that, there’s the New York State transfer tax (0.4%).

Make sure you’re working with a real estate agent and attorney who both know NYC like the back of their hands and can break down your closing cost estimate before you list. In advance of listing, you can also estimate your potential transaction fees with a NYC seller closing cost calculator.

In addition to estimating transaction costs paid at the closing table, sellers should also speak to their accountant to understand the tax implications of real estate capital gains, if applicable. 

Interested in selling your NYC apartment this year? Learn how you can save thousands on commission with Prevu’s seller services.