Generally the buyer covers the transfer taxes when it comes to a sponsor sales. However, in the slowing market and large new development inventory( especially in Brooklyn) there are some sponsors that are open to covering the transfer taxes for the buyer. This will vary from a building to building or even a unit to unit in the same building. Some of the smaller sponsors for ex may be more open to the idea. If lets say the building is not selling as fast as they need or particular line in the building has a hard time selling then they may be willing to cover the transfer tax....They would much rather cover the transfer tax than to negotiate the price because that has no effect on the pricing of their other units. It does not to hurt to try.
All they can say is no. I have seen it done and as a matter of fact some sponsors are now offering to cover the transfer taxes as an incentive to the buyer.
Good luck.

Mon Apr 21 2008, 10:17

In a new building when you are buying from the sponsor the buyer does pay!! :(

Sun Apr 20 2008, 16:30