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NYC Closing Cost

CONDOMINIUMS

  • Broker’s Fee: Typically 6%
  • Attorney Fee: Consult Your attorney
  • Processing Fee: $450+
  • NYC Real Property Transfer Tax:
    • Up To $500,000 = 1% of purchase price
    • Over $500,000 = 1.425% of purchase price
  •  NYS Transfer Tax:
    • 0.4% for purchases under $3,000,000
    • 0.65% for purchases over $3,000,000
  •  NYS Equalization Fee: $75
  • UCC-3 Filing Fee: $100
  • Residential Deed Transfers: $75
  • Bank Loan Satisfaction Fee: $500
  • Move Out Deposit & Fee’s: Varies by building
  • Managing Agent Fee: Varies by building
  • Miscellaneous Condo Charges: Varies by building
  • Attorney Fee: Consult Your Attorney
  • Mansion Tax:
    • 1% of purchases $1,000,000-$1,999,999
    • 1.25% of purchases $2,000,00-$2,999,999
    • 1.5% of purchases $3,000,000-$4,999,999
    • 2.25% of purchases $5,000,000-$9,999,999
    • o 3.25% of purchases $10,000,000-$14,999,999
    • 3.5% of purchases $15,000,000-$19,999,999
    • 3.75% of purchases $20,000,000-$24,999,999
    • 3.90% of purchases $25,000,000 or greater
  •  Title Insurance: Amounts vary, please consult your attorney
  • Municipal Search: $350-$500
  • Move In Fee & Deposit: Varies by building
  • Recording Fees: $250-$750
  • Processing Fee: $330
  • Miscellaneous Condo Charge: Varies by building
    If Financing:
  • NYC Mortgage Tax:
    • Mortgage less than $500,000 = 1.8%
    • Mortgage over $500,000 = 1.925%
  • Bank Attorney Fees: $650-$750
  • Bank Fee: $350-$750

CO-OPS

  • Broker’s Fee: Typically 6%
  • Attorney Fee: Consult Your Attorney
  • NYC Real Property Transfer Tax
    • Up to $500,000 = 1%
    • Over $500,000 = 1.425%
  •  NYS Transfer Tax:
    • 0.4% for purchases under $3,000,000
    • 0.65% for purchases over $3,000,000
  •  NYS Equalization Fee: $75
  • UCC-3 Filing Fee: $100
  • Stock Transfer Tax: $0.05 per share
  • Move Out Deposit & Fee’s: Varies by building
  • Managing Agent Fee: Varies by building
  • Bank Loan Satisfaction Fee: $500
  • Co-op Flip Tax: Varies by building
  • Co-op Attorney: $450+
  • Residential Deed Transfers: $75
  • Miscellaneous Co-op Charges: Varies by building
  • Mortgage Closing Costs
  • Mansion Tax:
    • 1% of purchases $1,000,000-$1,999,999
    • 1.25% of purchases $2,000,00-$2,999,999
    • 1.5% of purchases $3,000,000-$4,999,999
    • 2.25% of purchases $5,000,000-$9,999,999
    • 3.25% of purchases $10,000,000-$14,999,999
    •  
      3.5% of purchases $15,000,000-$19,999,999
    • 3.75% of purchases $20,000,000-$24,999,999
    • 3.90% of purchases $25,000,000 or greater
  •  Attorney Fee: Consult Your Attorney
  • Move In Fee & Deposit: Varies by building
  • Processing Fee: $330
  • Lien Search: $250-$350
  • UCC-1 Filing: $100
  • Miscellaneous Co-op Charges: Varies by building
    If Financing:
  • Bank Fees: $350-$750
  • Bank Attorney: $650-$750

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