It can be nerve-wracking to buy real estate in NYC. One of the constituents can be caused by the mansion tax: A real estate transfer tax imposed by New York State in 1989 is imposed on sale prices of $1 million or more. Thankfully, there are a lot of luxurious homes on the market for under $1M that don’t trigger that tax and offer tons of options for buyers looking to spend the end of the year in their own NYC pad.

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