Thinking about listing your Long Island City condo but unsure where to start? You are not alone. Between condo documents, building rules, and NYC-specific taxes, even a simple sale can feel complex. This guide gives you a clear, step-by-step checklist tailored to LIC so you can prepare confidently, avoid surprises, and hit the market ready. Let’s dive in.
What LIC buyers value
Long Island City attracts buyers who prioritize quick transit to Manhattan, skyline and water views, strong building amenities, and outdoor space like balconies or terraces. Many units are in newer developments, so buyers also look closely at the building’s offering plan status, financials, and rules. Flood exposure can matter for waterfront buildings, and parking or storage adds value. Keep these factors in mind as you prep your unit and narrative.
Assemble your documents
Having a complete, organized package speeds attorney review and builds buyer confidence. Start gathering these early.
Ownership and building records
- Deed or title and proof of ownership.
- Current deed with any recorded easements or restrictions (NYC records are available through ACRIS).
- Condominium declaration, bylaws, and any amendments.
- Offering plan and attorney acceptance letter for newer buildings or conversions.
- House rules, including pet, subletting, and short-term rental policies.
- Certificate of Occupancy for the building.
Where to obtain: building management or condo office, your attorney, ACRIS for recorded documents, and the New York State Attorney General for offering plan materials.
Financials and assessments
- Most recent condominium budget and audited financial statements (1–3 years is typical).
- Reserve fund balance or recent reserve study if available.
- Minutes of recent board meetings for the last 12–24 months.
- Notices and history of any special assessments or capital projects.
- Current common charge statement and any scheduled increases.
- Master insurance policy summary and deductibles.
- Certificate showing no unpaid common charges or liens on the unit.
Unit-specific items
- Recent utility bills, appliance manuals, and warranty info.
- Receipts for renovations, plus Department of Buildings permits and sign-offs for any alterations.
- Accurate floor plan with verified square footage.
- If tenant-occupied: current lease and rent roll.
Building operations and moves
- Estoppel or condo ledger info for buyer attorney review.
- Move-in and move-out policies, scheduling, deposits, and fees.
Prep, repairs, and safety
Walk through your condo as a buyer would. Fix small issues that signal neglect and confirm safety items are current.
- Repair leaks, peeling paint, cracked tiles, loose hardware, sticky doors, and scuffed floors.
- Service HVAC, test electrical outlets, and confirm appliances work.
- Check windows, balcony or terrace safety, and compliance with building policies.
- Ensure smoke and carbon monoxide detectors meet NYC and New York State requirements.
- If the building has recent or planned capital work, gather timelines and assessment details to share.
- Consider an optional pre-listing inspection to uncover issues before they appear in negotiations.
Stage and photograph for LIC
Make space and light the heroes. LIC buyers respond to views, natural light, and lifestyle amenities.
- Declutter, depersonalize, and neutralize décor to help rooms feel larger.
- Arrange furniture to show flow and maximize sightlines to windows and views.
- Stage balconies or terraces to emphasize usable outdoor square footage.
- Invest in professional photography, accurate floor plans, and a virtual tour. Twilight photos can make skyline views pop.
- Highlight building amenities such as a doorman, fitness center, roof deck, package room, parking, or bike storage.
Plan showings with building rules
Every condo runs showings a little differently. Confirm logistics before you launch to avoid hiccups.
- Check policies for open houses and private showings.
- Ask about lockboxes, front desk coordination, and whether staff must escort showings.
- Decide whether you want proof of funds or a mortgage pre-approval before showings.
- Coordinate with management on move-related deposits and scheduling so closing runs smoothly.
Price with condo-specific comps
Use closed sales in your building as the best comps, then widen to similar LIC buildings when needed. Adjust carefully for features buyers value.
- Floor and exposure often impact price, especially when views improve on higher floors.
- Outdoor space like a balcony or terrace can command a premium.
- Renovation quality, kitchen and bath finishes, and included storage or parking all matter.
- Consider current or upcoming assessments and how they affect total monthly cost.
- Buyers calculate affordability as mortgage plus common charges plus property taxes, so factor carrying costs into your pricing strategy.
Taxes, fees, and closing costs
Plan for typical seller expenses so you are not surprised at the closing table.
- Broker commission based on the listing agreement.
- Seller’s attorney fee.
- Payoff of any mortgage and satisfaction of liens.
- NYC and New York State transfer taxes and recording fees. Confirm current rates and forms with the NYC Department of Finance and the New York State Department of Taxation and Finance.
- Any condo transfer or flip fees stated in the bylaws.
- Outstanding common charges or special assessments due at closing.
- Potential capital gains taxes at federal and state levels. Consult your tax advisor about eligibility for the primary residence exclusion.
Flood risk and insurance
Parts of LIC along the waterfront may be within FEMA flood zones. Buyers and lenders look closely at flood exposure.
- Check FEMA flood maps and NYC resources for current designations.
- Be ready to discuss the building’s flood mitigation measures, any resiliency projects, and related assessments.
- If flood insurance is required by a lender, understand how the building’s master policy and your HO-6 policy interact.
Timeline and process
Condo sales usually move faster than co-ops because most condos do not require board approval of buyers. Buyers’ attorneys will still perform a document review, and lenders need time to clear the file.
- Typical contract to closing timelines run 30 to 60 days, depending on financing and building administration.
- Cash deals often close faster.
- Expect attorneys to request financials, minutes, insurance details, and estoppel or ledger statements.
Avoid common mistakes
A little prep now prevents deals from stalling later.
- Not providing current condo financials or board minutes can delay attorney review.
- Skipping permits for past renovations creates closing risk. Confirm all required DOB permits and inspections are complete.
- Ignoring building showing rules can lead to canceled appointments or fines.
- Underestimating closing costs and transfer taxes makes net proceeds unclear.
- Missing information about upcoming capital projects or litigation can spook buyers.
Your quick pre-listing checklist
Documents
- Deed or title, latest property tax bill.
- Condo declaration, bylaws, house rules, and offering plan if applicable.
- Budget, audited financials, reserve info, board minutes.
- Common charge statements, assessments, and ledger info.
- Master insurance summary, Certificate of Occupancy.
- Renovation permits, receipts, warranties.
- Floor plan with verified square footage, professional photos or virtual tour.
Property prep
- Complete minor repairs and service HVAC and appliances.
- Deep clean, declutter, depersonalize, and stage.
- Verify smoke and CO detector compliance.
- Confirm balcony or terrace safety.
Building coordination
- Confirm showing rules, open house policies, and lockbox restrictions.
- Notify management and the front desk about listing logistics.
- Review move-in and move-out scheduling and fees.
Pricing and marketing
- Pull comps in your building and nearby LIC condos.
- Emphasize views, amenities, transit, and any recent upgrades.
- Hire a pro photographer and prepare floor plans and a virtual tour.
Legal and closing readiness
- Retain a New York real estate attorney who handles condo closings.
- Confirm transfer taxes and seller costs with your attorney and tax advisor.
- Request mortgage payoff statements and clear any liens.
- Anticipate a 30 to 60 day attorney review and closing window.
Next steps
If you want a seamless prep process, bring in a team that understands both construction and marketing. From coordinating repairs and DOB sign-offs to staging, photography, and a data-backed pricing strategy, we help you present your condo at its best and move from launch to closing with clarity. Ready to list your LIC condo with expert guidance? Book an appointment with Mark O’Brien Real Estate.
FAQs
What documents do I need to sell a Long Island City condo?
- Gather your deed, condo declaration and bylaws, offering plan if applicable, house rules, financials and reserve info, board minutes, common charge statements, master insurance summary, CO, renovation permits, and an accurate floor plan.
Do condos in LIC require board approval of buyers?
- Most condos do not require board approval of individual purchasers, which can speed up closings compared to co-ops, though attorneys still review condo documents.
How are NYC transfer taxes handled for condo sales?
- NYC and New York State transfer taxes and recording fees typically apply at closing. Confirm current rates and forms with the NYC Department of Finance and the New York State Department of Taxation and Finance.
How should I price my LIC condo?
- Start with closed sales in your building, then expand to similar nearby buildings. Adjust for floor and exposure, outdoor space, renovation quality, storage or parking, and any assessments that affect monthly costs.
What should I disclose about past renovations?
- Provide receipts and DOB permits or approvals for any alterations. Disclose known material defects and confirm smoke and CO detector compliance as required by New York regulations.
How long does a typical LIC condo sale take to close?
- Many condo deals close in about 30 to 60 days after contract, depending on financing and building administration. Cash deals can be faster.
