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You will need to pay NYC income tax on the gain, if any, resulting from the property sale. If you are not a NYC resident you will not need to pay other NYC taxes. I will check on the NYC UBT and return momentarily.
Based on the following, if your only business activity in NYC last year was the rental building you are not required to file the UBT or pay the UBT:
Unincorporated Business Tax (UBT)
A tax is charged to every individual or unincorporated entity carrying on a trade, business, or profession - in whole or part - in New York City.
What Activities are Subject to This Tax?By Law, What Activities and Unincorporated Entitiesare Exempt from this Tax?Conformity with State LawsTax CreditsTax Forms & Filing InformationTax RatesLegal AuthorityFrequently Asked QuestionsContact Us
What Activities are Subject to This Tax?Note: The Metropolitan Commuter Transportation Mobility Tax does not need to be added back when filing UBT returns for the 2009 tax year.
Unincorporated Businesses include: trades, professions, and certain occupations of an individual, partnership, limited liability company, fiduciary, association, estate or trust. The business can be active or in the process of being liquidated.
If a person carries on two or more Unincorporated Businesses, all are treated as one for the purpose of this tax.
By Law, What Activities and Unincorporated Entities are Exempt from this Tax?