NYC Closing Costs Calculator
Calculate your estimated closing costs for buying a property in New York City, including taxes, attorney fees, and title insurance.
Property Details
Includes additional transfer taxes
💡 About NYC Closing Costs
Closing costs in NYC typically range from 2-5% of the purchase price. Co-ops generally have lower closing costs since they don't require title insurance or pay mortgage recording tax.
Estimated Total Closing Costs
$19,950
1.99% of purchase price
Mansion Tax
$10,000
Buyer's Attorney Fee
$4,000
Move-In Deposit
$1,000
Board Application Fees
$500
Move-In Fee
$500
Building Questionnaire Fee
$350
Lien Search Fee
$300
Credit Check
$100
Bank's Attorney Fee
$1,000
Loan Application Fee
$1,000
Appraisal Fee
$750
Recognition Agreement Fee
$350
UCC-1 Filing Fee
$100
Co-op Savings: Co-ops don't require title insurance or mortgage recording tax, resulting in lower closing costs.
Detailed Cost Breakdown
| Fee Type | Amount |
|---|---|
| Mansion Tax | $10,000 |
| Buyer's Attorney Fee | $4,000 |
| Move-In Deposit | $1,000 |
| Board Application Fees | $500 |
| Move-In Fee | $500 |
| Building Questionnaire Fee | $350 |
| Lien Search Fee | $300 |
| Credit Check | $100 |
| Bank's Attorney Fee | $1,000 |
| Loan Application Fee | $1,000 |
| Appraisal Fee | $750 |
| Recognition Agreement Fee | $350 |
| UCC-1 Filing Fee | $100 |
| Total Closing Costs | $19,950 |
Purchase Summary
Purchase Price
$1,000,000
Down Payment
$200,000
Total Cash Needed
$219,950
Fee Glossary
Attorney Fees
Your real estate attorney handles document preparation and provides legal advice throughout the purchase process.
NYC Mansion Tax
A progressive transfer tax on properties $1M+, ranging from 1% to 3.9% based on purchase price tiers.
Title Insurance
Protects against loss of ownership due to legal defects. Required for condos and townhouses with mortgages, not applicable to co-ops.
Mortgage Recording Tax
1.8% on mortgages under $500K, 1.925% above. Applies to condos and townhouses only, not co-ops.
Frequently Asked Questions
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