Closing Costs

In New York, both buyers and sellers are responsible for closing costs. Below are the typical closing costs for both buyers and sellers in New York and New York City. Talk to your lender or attorney to get a better idea of how much you'll be responsible for at the closing. The numbers will vary based on a number of factors including location, type of loan, points, and even the time of year.

These Apply to Single Family Homes, Condos, and Townhouses


  • Attorney Fees
  • Bank attorney
  • Bank fees
  • Application fee
  • Processing fee
  • Appraisal fee
  • Recording fees
  • Fee title insurance
  • Mortgage title insurance
  • Municipal search
  • Credit report fee
  • Prorated Property Taxes
  • NYC mansion tax: 1% of purchase (Sales $1M or more)
  • NYC mortgage tax — paid by borrower
    • Mortgage of up to $500,000
    • Mortgage on other properties over $500,000
  • Miscellaneous condominium fees

Potential fees for co-ops

  • Lien search
  • UCC-1 filing fee
  • Recognition agreement fee
  • Miscellaneous co-op charges


  • Broker Fees
  • Attorney fee
  • Processing fee
  • New York City transfer tax
    • Commercial
      • Properties of up to $500,000
      • Properties of $500,000 or more
      • Residential
    • Properties of up to $500,000
    • Properties of $500,000 or more
  • Administrative fee
    • Residential deed transfers
    • Commercial deed transfers
  • New York State transfer tax
  • New York State equalization fee
  • Pickup or payoff fee
  • UCC-3 filing fee
  • Miscellaneous condominium fees

Potential fees for co-ops

  • Co-op attorney
  • Administrative fee for nondeed transfers
  • Flip tax (if applicable)
  • Stock transfer tax
  • Move-out fee
  • Miscellaneous co-op fees
Jack Mara

NYS Lic. Real Estate Salesperson


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