New York City Form NYC-RPT is the Real Property Transfer Tax Return that every grantor (and sometimes grantee) must file with the NYC Department of Finance whenever real property, an economic interest in real property, or cooperative apartment shares change hands inside the five boroughs. The form reports the consideration, calculates the tax under NYC Administrative Code §11-2102, and locks in any exemptions claimed by the parties.
Filing the NYC-RPT wrong is expensive. The NYC Department of Finance reports that roughly 1 in 5 RPTT returns are flagged for correction or audit, and a late return triggers a 5% per month penalty (up to 25%), plus interest at the underpayment rate published by the NYC Department of Finance Interest Rates page.
Here is what you will learn in this guide:
- 📋 What NYC-RPT covers and who must sign Schedule 3
- 🏠 How to fill out every page, schedule, and box line by line
- 💰 How to calculate the base tax, the mansion tax, and the new Additional Tax tiers
- 🧾 Three full walkthroughs (Brooklyn home, Manhattan co-op, LLC transfer)
- ⚠️ The 10 most common NYC-RPT mistakes and how to avoid each one
What the Form Is and Who Must File It
NYC-RPT is the official return used to compute and pay the Real Property Transfer Tax (RPTT) imposed by the City of New York. The tax sits on top of the New York State Real Estate Transfer Tax reported on Form TP-584, and both forms are almost always filed together. The current NYC-RPT carries a revision date printed in the lower-left footer; always confirm you have the latest version from the NYC-RPT form and instructions page before signing.
Anyone who transfers a deed, lease, easement, or controlling economic interest in NYC real property must file. That includes individual sellers, estates, LLCs, partnerships, corporations, cooperative housing corporations issuing shares, and parties to gifts or family transfers. The grantor pays the tax, but if the grantor is exempt (for example, a federal agency), the obligation shifts to the grantee under NYC Admin Code §11-2102(b).
A return is required even when no tax is due. Transfers between spouses, gifts with no debt assumed, and transfers to wholly owned entities still require an NYC-RPT with the proper exemption box checked. Skipping the return because “there is no tax” is the single most common filer mistake, and it can void the recording of the deed in ACRIS.
The plain-English consequence of ignoring NYC-RPT is brutal. The City Register will refuse to record the deed, the buyer cannot get clean title, the title insurer will not issue a policy, and the seller remains personally liable for the tax plus penalties. A common misconception is that the closing attorney “handles it automatically”; in reality, the grantor signs the return under penalty of perjury and owns every number on it.
Before You Start: Documents and Information You Need
Gather everything below before you open the form. Missing one item often forces a re-recording fee of $250+ through ACRIS.
- Fully executed deed or assignment of shares. The grantor and grantee names must match the deed exactly; a typo here voids the recording.
- Contract of sale. You need the contract date, the consideration, and any seller concessions to compute the taxable base.
- Borough-Block-Lot (BBL). Pull the BBL from the NYC Digital Tax Map; a wrong BBL routes the tax to the wrong parcel.
- Federal Employer ID Number (EIN) or Social Security Number for every grantor and grantee; the Department of Finance cross-checks against IRS records.
- TP-584 and RP-5217NYC drafts; these three forms must agree on consideration and property type.
- Mortgage payoff letter or new loan amount. The buyer’s assumed debt is part of “consideration” under 19 RCNY §23-02.
- Smoke and carbon monoxide detector affidavit for one- to three-family homes; required before the deed records.
- Power of attorney if anyone signs for the grantor; the POA must be recorded with the deed.
- Prior deed to confirm the grantor’s vesting and any reserved life estates.
- Co-op stock certificate and proprietary lease for apartment transfers, since cooperative transfers use a separate schedule on NYC-RPT.
Each missing item creates a specific bottleneck. No EIN means the return cannot be e-filed in ACRIS. A wrong BBL means the tax payment posts to a stranger’s parcel. A missing smoke detector affidavit means the deed is rejected at intake even if the tax is paid in full.
Where to Get the Form and How to Access It
The official NYC-RPT is hosted on the NYC Department of Finance RPTT page as a fillable PDF. Always download a fresh copy at the start of each transaction because the Department of Finance pushes silent revisions to the schedules. The footer revision date confirms the version you are using.
For real property (deeds, leases, easements, life estates), you file electronically through ACRIS. ACRIS auto-generates the NYC-RPT cover pages once you key in the transaction, then asks you to attach supporting schedules. The system also produces the cover pages for the deed, the TP-584, and the RP-5217NYC at the same time.
For cooperative apartment transfers, ACRIS does not apply because co-op shares are personal property, not real property. You file a paper NYC-RPT directly with the Department of Finance using the address printed on the form, along with the Cooperative Coversheet. The same form is used; only the filing channel differs.
A common misconception is that you can fill the NYC-RPT in any PDF reader and email it. The Department of Finance only accepts the form through ACRIS or by mail with original signatures. Emailed returns are deleted unreviewed, and the deadline keeps running while you wait for a response.
Step-by-Step: How to Fill Out NYC-RPT Line by Line
The NYC-RPT has a cover section, Schedule 1 (details of consideration), Schedule 2 (computation of tax), Schedule 3 (transferor/transferee details and certifications), and additional schedules (Schedule A through Schedule M) used to claim specific exemptions. Each subsection below follows the official field names printed on the current revision posted at the NYC-RPT instructions page.
Condition of Transfer (Cover Page)
This is the checkbox grid at the top that tells the City what kind of transaction it is. You will see options like arm’s length sale, gift, transfer pursuant to a will, transfer in lieu of foreclosure, transfer between related parties, and transfer to a business entity.
Check every box that applies. Marcus Bell, selling his Bed-Stuy brownstone to an unrelated buyer for $1.4M, checks only “arm’s length sale.” A family gift transfer checks both “gift” and “transfer between related parties.”
The nuance is that some boxes (like “transfer pursuant to Section 1031”) trigger additional schedules later in the form. If you check the wrong condition, you cannot claim the matching exemption downstream.
The most common mistake here is leaving every box blank because the transaction “looks normal.” A blank Condition of Transfer grid puts the return into manual review, adding 4–6 weeks to recording. The misconception is that “arm’s length” is the default; it is not, and the City treats no answer as a refusal to certify.
Date of Transfer
Enter the date of delivery and acceptance of the deed, not the contract date and not the closing scheduled date. Use MM/DD/YYYY format.
Aisha Robinson closes on her Astoria condo on March 14, 2026; she writes 03/14/2026 in the Date of Transfer box. If the closing spans two days because the wire lands the next morning, use the day the deed was physically delivered.
The nuance is that for co-op transfers, the date of transfer is the date the cooperative board approves the new shareholder and re-issues the stock certificate, not the date of the contract. For economic interest transfers, it is the date control passes, which can be earlier than any closing document.
The most common mistake is using the contract date, which makes the return appear late by months. The late filing penalty then kicks in at 5% per month up to 25%. The misconception is that the “closing date” in the contract controls; only delivery of the deed controls.
Grantor and Grantee Name and Address
Enter each party’s full legal name exactly as it appears on the deed and on a government-issued ID or formation document. For entities, use the name on file with the New York Department of State Division of Corporations.
Brooklyn Heights Holdings LLC, a New York LLC, writes its name exactly as it appears in its Articles of Organization, then lists its principal office address on Court Street.
The nuance is that LLC grantors must also list every member with more than a 10% interest under the LLC transparency rules in 19 RCNY §23-03. Trusts must list the trustee, not the trust itself, as the signing party.
The most common mistake is using a “doing business as” name instead of the legal entity name; this voids the return. The misconception is that an LLC’s address can be the registered agent’s; it must be the principal office.
Type of Property Transferred
Pick one box: 1–3 family house, individual residential condominium unit, individual cooperative apartment, commercial condominium unit, 4-family dwelling or greater, vacant land, commercial, industrial, apartment building, or other.
Janet Liu transfers a 4-unit walk-up in Inwood; she checks “4-family dwelling or greater,” which is the boundary between residential and commercial tax rates.
The nuance is that the property type drives the rate tier. Residential under $500,000 pays 1%; residential at $500,000+ pays 1.425%; commercial under $500,000 pays 1.425%; commercial at $500,000+ pays 2.625%.
The most common mistake is calling a mixed-use building “residential” because the owner lives in one unit; mixed-use is commercial for RPTT. The misconception is that a co-op is “real property” for RPTT; it is taxed at residential rates but treated as personal property for filing.
Schedule 1 – Details of Consideration
Schedule 1 lists everything of value the grantor receives. Cash, assumed mortgages, purchase-money mortgages, accrued interest, unpaid taxes, liens, and the value of any property exchanged all belong here. The form lists items (a) through (j); fill in only the lines that apply, then total.
Marcus Bell sells his brownstone for $1,400,000 cash plus the buyer’s assumption of a $300,000 mortgage; he writes 1,400,000 on line (a) and 300,000 on line (b), totaling 1,700,000.
The nuance is that seller concessions (closing-cost credits) generally do not reduce consideration; they are still part of the taxable base under Finance Memorandum 00-6.
The most common mistake is reporting only the cash on line (a) and ignoring assumed debt; this understates the tax by thousands and triggers audit interest. The misconception is that “consideration” equals the sale price on the contract; the statute defines it far more broadly.
Schedule 2 – Computation of Tax
Schedule 2 is the math. You bring down the consideration from Schedule 1, multiply by the correct rate, add the NYC Additional Tax for $2 million+ residential transfers under NYC Admin Code §11-2102(b)(2), and subtract any partial exemption claimed on a later schedule.
Aisha Robinson’s condo sells for $1,750,000. She enters 1,750,000, multiplies by 1.425% to get 24,937.50, and writes that figure as her base RPTT.
The nuance is that the Additional Tax on residential transfers tiers from 0.25% at $2M up to 2.9% at $25M+. Many filers forget that the Additional Tax is in addition to the base 1.425% and to the State mansion tax that flows through TP-584.
The most common mistake is using the wrong rate tier because the filer rounded the consideration. The misconception is that the mansion tax appears on NYC-RPT; it does not — it lives on TP-584, but the NYC Additional Tax does live here.
Schedule 3 – Certification of Transferor and Transferee
Schedule 3 is where the parties sign under penalty of perjury that every number is correct. Both grantor and grantee sign and date; entity signers list their title.
Brooklyn Heights Holdings LLC signs through its managing member, who prints “Sarah Cohen, Managing Member” and dates the signature 03/14/2026.
The nuance is that an attorney-in-fact may sign only if a recorded power of attorney accompanies the deed. Co-op transfers also require the cooperative housing corporation’s authorized officer to sign the share-transfer certification.
The most common mistake is one party signing and the other leaving the line blank; an unsigned Schedule 3 makes the return a nullity. The misconception is that the attorney’s signature substitutes for the party’s; it never does.
Schedule A – Computation of Tax on Real Property
Schedule A is the worksheet that proves the Schedule 2 number. It restates the consideration, the rate, the Additional Tax, and any apportionment between residential and commercial portions of a mixed-use building.
Janet Liu’s 4-unit walk-up has one ground-floor laundromat; she apportions 75% residential and 25% commercial on Schedule A and applies each rate to its share.
The nuance is that apportionment must be based on fair market value, not square footage, when the values differ materially. The Department of Finance can demand a third-party appraisal if the split looks aggressive.
The most common mistake is using square footage when value differs from area (e.g., a high-rent retail unit on a small footprint). The misconception is that any reasonable split is accepted; the Department audits apportionments on returns over $5M.
Schedule B – Transfers of Economic Interest
Schedule B covers transfers of a controlling interest (50% or more) in an entity that owns NYC real property. List the entity, its BBL holdings, and the percentage interest transferred.
A 60% LLC member sells her units to a new investor; the LLC owns one Midtown office building, and Schedule B reports the 60% transfer plus the building’s fair market value.
The nuance is that aggregation rules under 19 RCNY §23-04 combine multiple transfers within a three-year look-back. Two 30% transfers nine months apart trigger RPTT on the second one.
The most common mistake is treating sequential minority transfers as exempt; aggregation catches them. The misconception is that LLC interests are “intangible”; for NYC RPTT, a controlling interest is taxable.
Schedules C through M – Specific Exemptions
These schedules unlock partial or full exemptions for transfers to housing development fund companies (HDFCs), Mitchell-Lama buildings, Real Estate Investment Trusts (REITs), nonprofits, governmental entities, mere change of identity (same beneficial owner before and after), and certain estate transfers. Each schedule asks for the statutory basis, the supporting documents, and the math.
A nonprofit transfers its Bronx clinic to a wholly owned title-holding subsidiary; the parties claim “mere change of identity” on Schedule M and attach the organizational chart proving identical beneficial ownership.
The nuance is that “mere change of identity” requires identical proportional ownership before and after; even a 1% shift voids the exemption. Estate transfers under a will use Schedule I, not Schedule M.
The most common mistake is claiming an exemption without attaching the supporting schedule; the Department of Finance treats the box-check as unsupported and bills the full tax. The misconception is that a transfer between affiliated LLCs is automatically exempt; the ownership must be perfectly proportional.
Three Filled-Out Examples Using Real Scenarios
Scenario 1: Marcus Bell – Brooklyn Brownstone Sale
Marcus Bell sells his Bed-Stuy brownstone for $1.4M cash plus a $300K assumed mortgage. The buyer is unrelated.
| Form Section | What Marcus Enters |
|---|---|
| Condition of Transfer | Arm’s length sale (only) |
| Date of Transfer | 03/14/2026 |
| Grantor Name | Marcus T. Bell |
| Grantee Name | Daniel and Rosa Ortiz |
| Type of Property | 1–3 family house |
| Schedule 1 Line (a) Cash | $1,400,000 |
| Schedule 1 Line (b) Assumed Mortgage | $300,000 |
| Schedule 1 Total Consideration | $1,700,000 |
| Schedule 2 Rate | 1.425% |
| Schedule 2 RPTT Due | $24,225 |
| Schedule 3 Signature | Marcus T. Bell, 03/14/2026 |
Scenario 2: Aisha Robinson – Manhattan Co-op Purchase
Aisha buys a Manhattan co-op apartment for $1,750,000 cash. The cooperative housing corporation reissues 250 shares to her.
| Form Section | What Aisha Enters |
|---|---|
| Condition of Transfer | Arm’s length sale |
| Date of Transfer | 04/02/2026 (board approval date) |
| Grantor Name | Estate of Harold Greene |
| Grantee Name | Aisha N. Robinson |
| Type of Property | Individual cooperative apartment |
| Schedule 1 Cash | $1,750,000 |
| Schedule 1 Total Consideration | $1,750,000 |
| Schedule 2 Base Rate | 1.425% |
| Schedule 2 Base RPTT | $24,937.50 |
| NYC Additional Tax (residential ≥ $2M) | $0 (under threshold) |
| Filing Channel | Paper to NYC Department of Finance |
| Schedule 3 Signature | Aisha N. Robinson, 04/02/2026 |
Scenario 3: Brooklyn Heights Holdings LLC – Transfer to a Wholly Owned Subsidiary
Brooklyn Heights Holdings LLC transfers a $3.2M Court Street office condo to its wholly owned subsidiary, BHH Court LLC, for $0 cash. The parties claim “mere change of identity” on Schedule M.
| Form Section | What the LLC Enters |
|---|---|
| Condition of Transfer | Transfer to a business entity; mere change of identity |
| Date of Transfer | 05/10/2026 |
| Grantor Name | Brooklyn Heights Holdings LLC |
| Grantee Name | BHH Court LLC |
| Type of Property | Commercial condominium unit |
| Schedule 1 Total Consideration | $3,200,000 (FMV) |
| Schedule 2 Rate Before Exemption | 2.625% |
| Schedule M Exemption | 100% mere change of identity |
| Net RPTT Due | $0 |
| Schedule 3 Signature | Sarah Cohen, Managing Member |
How to File the Completed Form
Filing Channel 1 – ACRIS (real property). Go to the ACRIS portal, create a cover-page package, attach the deed, NYC-RPT, TP-584, RP-5217NYC, and smoke detector affidavit. Pay the RPTT, the recording fees, and the State transfer tax by ACH or credit card. Processing usually takes 5–10 business days, and your proof of filing is the ACRIS Document ID and CRFN printed on the cover page.
Filing Channel 2 – Mail for cooperative transfers. Mail the signed NYC-RPT, the Cooperative Coversheet, and a check payable to the NYC Department of Finance to the address printed on the current form. Use certified mail with return receipt. Processing takes 6–8 weeks, and your proof of filing is the stamped return copy plus the certified mail green card.
Filing Channel 3 – In person at a Business Center. You may walk a paper return into a Department of Finance Business Center. Bring two copies, a photo ID, and payment by certified check or money order. Cash is not accepted. The clerk stamps your copy on the spot.
The deadline is 30 days from the date of delivery of the deed (or the date the controlling interest passes). Filing one day late triggers the 5% per month penalty, capped at 25%, plus interest at the rate posted on the Department of Finance Interest Rates page.
What Happens After You File
Once ACRIS accepts the package, the City Register records the deed and assigns a CRFN (City Register File Number). The NYC-RPT data flows to the Department of Finance’s RPTT system, and the tax payment posts to the BBL within 10 business days. The grantee then appears as the new owner on the NYC Property Information Portal within one billing cycle.
If the Department of Finance finds a discrepancy, it issues a Notice of Determination with the additional tax, penalty, and interest. The grantor has 90 days to request a Conciliation Conference or to petition the NYC Tax Appeals Tribunal. Ignoring the notice converts the deficiency into a docketed judgment against the grantor.
For co-op transfers, the cooperative housing corporation will not issue new stock until it sees the stamped, paid NYC-RPT. The buyer cannot occupy the unit (in many buildings) until the board confirms tax payment.
A common misconception is that recording the deed ends the matter. The Department of Finance has three years from the filing date to audit, and six years if it believes the return understated tax by more than 25%.
Mistakes to Avoid When Filling Out the Form
- Reporting only cash on Schedule 1. Forgetting assumed mortgages or liens understates tax and triggers audit interest.
- Using the contract date as the Date of Transfer. This makes the return look late and starts the 5%-per-month clock.
- Wrong BBL. The tax posts to a stranger’s parcel and the deed gets rejected.
- Calling a mixed-use building “residential.” Mixed-use is commercial for RPTT, taxed at 1.425% or 2.625%.
- Skipping the NYC Additional Tax on $2M+ residential transfers; the Department of Finance bills the missing tier plus penalty.
- Claiming an exemption without filling the matching schedule. The box-check alone is treated as unsupported.
- Using a “doing business as” name instead of the legal entity name; this voids the return.
- One party signing Schedule 3 and the other not. Unsigned returns are nullities.
- Forgetting the smoke detector affidavit on 1–3 family homes; ACRIS rejects the package at intake.
- Splitting one transfer into two sub-50% economic interest deals within three years; aggregation under §23-04 catches it.
- Treating seller concessions as a reduction in consideration; they are not, under Finance Memorandum 00-6.
Do’s and Don’ts
Do confirm the form’s revision date in the footer before signing, because the schedules change quietly. Do match the grantor name on NYC-RPT, the deed, TP-584, and RP-5217NYC letter-for-letter, because any mismatch routes the package to manual review. Do keep a PDF copy of the stamped return for at least seven years, because the audit window can stretch to six. Do use the NYC Digital Tax Map to confirm the BBL before you key anything. Do attach every supporting schedule the moment you check an exemption box. Do wire the RPTT through ACRIS rather than paper-checking it, because checks slow recording.
Don’t rely on the closing attorney’s draft without recomputing the math yourself, because you sign under penalty of perjury. Don’t assume “no money changed hands” means “no return.” Don’t estimate the consideration; use the actual contract plus assumed debt. Don’t sign Schedule 3 before Schedule 1 and Schedule 2 are completed, because a blank middle invites fraud claims. Don’t mail a co-op transfer to ACRIS; it must go to the Department of Finance directly. Don’t ignore a Notice of Determination; you have 90 days, and the clock is short.
Pros and Cons of Filing on Your Own vs. With Help
Pros of pro se filing: You save $500–$2,500 in attorney fees on a routine sale. You learn the form, which helps with future transactions. You control the timeline directly through ACRIS. You can file simple gifts or spousal transfers in under an hour. You avoid relying on someone who may not know your exemption strategy.
Cons of pro se filing: The math on Schedule 2 plus the Additional Tax is unforgiving, and a small error costs thousands. Schedule B aggregation is hard to spot without legal training. The Department of Finance audits 1 in 5 returns, and you bear personal liability for errors. Co-op transfers involve a parallel cooperative-board process most filers do not know. You sign under penalty of perjury.
NYC-RPT vs. New York State TP-584
| Feature | NYC-RPT |
|---|---|
| Jurisdiction | NYC (five boroughs) under §11-2102 |
| Filed With | NYC Department of Finance via ACRIS |
| Base Residential Rate | 1% under $500K, 1.425% at $500K+ |
| Commercial Rate | 1.425% under $500K, 2.625% at $500K+ |
| Additional Tax | NYC tiered 0.25%–2.9% on residential $2M+ |
| Deadline | 30 days after delivery |
| Feature | New York State TP-584 |
|---|---|
| Jurisdiction | Statewide via NYS Tax Department |
| Filed With | County Clerk (NYC: through ACRIS) |
| Base Rate | 0.4% statewide, plus 0.25% NYC residential ≥ $3M |
| Mansion Tax | 1% on residential ≥ $1M, tiered up to 3.9% |
| Additional Tax | Separate from NYC’s Additional Tax |
| Deadline | 15 days after delivery |
FAQs
Do I file NYC-RPT if the sale price is under $25,000?
No. Transfers with consideration under $25,000 are exempt from RPTT, but you still file the return with the exemption claimed so the deed can record cleanly.
Do I write the contract date or the closing date as the Date of Transfer?
No. Use neither; use the date the deed is delivered and accepted, which is usually the closing date but can shift if the deed is held in escrow.
Do I include the buyer’s assumed mortgage in Schedule 1 consideration?
Yes. Assumed mortgages, purchase-money mortgages, and any liens the buyer takes subject to are part of consideration under §11-2102.
Do co-op transfers use ACRIS?
No. Co-op shares are personal property; file the paper NYC-RPT directly with the NYC Department of Finance using the Cooperative Coversheet.
Do I write my full legal name or my nickname in the Grantor box?
Yes to full legal name exactly as on the deed and government ID; a nickname or middle-initial mismatch voids the return at intake.
Do gifts between family members owe RPTT?
No, if no debt is assumed and no consideration changes hands; you still file NYC-RPT with the gift box checked and the proper exemption schedule attached.
Do I owe the NYC Additional Tax on a $1.9M condo?
No. The NYC Additional Tax starts at $2,000,000 in consideration for residential transfers; below that, only the base 1.425% applies.
Do I check “arm’s length” if I sold to my cousin at market price?
No. Sales between related parties are not arm’s length; check “transfer between related parties” even if the price is fair, because the Department of Finance audits relationship boxes.
Do I need to file if I transfer my house into my own revocable trust?
Yes. File NYC-RPT and claim the “mere change of identity” exemption on Schedule M; the deed will not record without the return.
Do seller concessions reduce my taxable consideration on Schedule 1?
No. Under Finance Memorandum 00-6, seller credits for closing costs do not reduce consideration for RPTT purposes.
Do I owe RPTT on the sale of a 49% LLC interest in a building?
No, unless aggregation applies; sales of less than 50% controlling interest are generally not taxable, but the three-year look-back can sweep them in.
Do I need to attach the deed to the NYC-RPT?
Yes, through ACRIS for real property and by mail (with the share certificate copy) for co-ops; the return cannot be processed without the underlying instrument.
Do I sign Schedule 3 before or after the closing?
Yes, sign at or immediately after delivery of the deed; signing before delivery is premature and exposes you to a perjury claim if the deal falls through.
Do I have to use the current revision of NYC-RPT?
Yes. The Department of Finance rejects superseded versions; always pull the latest PDF from the NYC-RPT instructions page at the start of each deal.
Related reading
- How to Fill Out New York Form RP-467 (w/Examples) + FAQs
- How to Fill Out New York Form RP-5217 (w/Examples) + FAQs
- How to Fill Out New York Form ST-810 (w/Examples) + FAQs
- How to Fill Out New York Form TP-584.1 (w/Examples) + FAQs
- How to Fill Out New York Form NYC-2 (w/Examples) + FAQs
- How to Fill Out New York Form NYC-3L (w/Examples) + FAQs
- How to Fill Out New York Form IT-558 (w/Examples) + FAQs