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New York Buyer Closing Costs

Condominiums

Closing cost estimates for the purchaser

Attorney  
Your Attorney Consult your attorney ~$2,500 - $5,000+
Bank  
Points ~0 - 3% of the loan value
Bank Application, Credit Check, etc $400 - $600
Bank Attorney $900 - $1,500
Appraisal $300 - $1,500
Tax Escrow ~ 2 - 6 months of property taxes
Mortgage Recording Tax 1.8% of mortgage amount < $500,000
1.925% of mortgage amount > $500,000+
Mortgage Origination Fee ~0 - 3% of loan amount
Building  
Board Package Processing Fees $500 - $2,000
Move-in Fee $250 - $1,000
Move-in Deposit $500 - $1,500 (refundable)
Common Charges Adjustment Pro-rated during the month of closing
Condo Credit Check $300 - $500 per buyer
New Development  
Residential NYC Transfer Tax* 1% < $500,000
1.425% > $500,000+
Progressive NY State Transfer Tax* 0.4% for Residential transactions < $3M
0.65% for Residential transactions > $3M

Condominiums

Closing cost estimates for the purchaser

Government & Title  
Recording Fees ~$250
Title Insurance ~0.45% of purchase price
Municipal Searches $350 - $500
Real Estate Tax Adjustment Pro-rated amount depends on when the tax is collected
Mansion Tax $1M to < $2M: 1.00%
$2M to < $3M: 1.25%
$3M to < $5M: 1.50%
$5M to < $10M: 2.25%
$10M to < $15M: 3.25%
$15M to < $20M: 3.50%
$20M to < $25M: 3.75%
$25M or more: 3.90%
Residential Deed Transfers Title $75
Fee Closer $100 - $500
Lenders Policy Title Insurance Rates may vary
Commission  
Buyer Agent Per your buyer representation agreement

Co-ops

Closing cost estimates for the purchaser

Attorney  
Your Attorney Consult your attorney ~$2,500 - $5,000+
Lien Search Fee ~$350
Bank  
Points ~0 - 3% of the loan value
Bank Application, Credit Check, etc $400 - $600
Bank Attorney $900 - $1,500
Mortgage Origination Rate ~0 - 3% of the loan value
UCC 1 Filing $125
Appraisal ~$300 - $1,500
Building  
Board Package Processing Fees $500 - $2,000
Credit Check Fee $100 - $300 per buyer
Move-in Fee $250 - $500
Move-in Deposit $500 - $1,000 (refundable)
Maintenance Adjustment Pro-rated for the month of closing
Recognition Agreement Fee $200 - $300
Miscellaneous Co-op Charges Varies by building. Consult the co-op's transfer agent & board package
Government  
Transfer Tax Filing Fee $125
Mansion Tax $1M to < $2M: 1.00%
$2M to < $3M: 1.25%
$3M to < $5M: 1.50%
$5M to < $10M: 2.25%
$10M to < $15M: 3.25%
$15M to < $20M: 3.50%
$20M to < $25M: 3.75%
$25M or more: 3.90%
Commission  
Buyer Agent Per your buyer representation agreement

Townhouses & Multi Family Homes

Closing cost estimates for the purchaser

Attorney  
Your Attorney Consult your attorney ~$2,500 - $5,000+
Bank  
Points ~0 - 3% of the loan value
Bank Loan Application Fees $400 - $600
Bank Attorney $900 - $1,500
Appraisal ~$300 - $1,500
Tax Escrow ~2 - 6 months of property taxes
Lenders Policy Title Insurance Rates may vary
Mortgage Origination Fee ~0 - 3% of loan value
Mortgage Recording Tax 1.8% of mortgage amount < $500,000
1.925% of mortgage amount > $500,000+
Government  
Recording Fees ~$250
Municipal Search 0.4% of purchase price
Miscellaneous Title Fees $100
Real Estate Tax Adjustment $125
Mansion Tax $1M to < $2M: 1.00%
$2M to < $3M: 1.25%
$3M to < $5M: 1.50%
$5M to < $10M: 2.25%
$10M to < $15M: 3.25%
$15M to < $20M: 3.50%
$20M to < $25M: 3.75%
$25M or more: 3.90%
Commission  
Buyer Agent Per your buyer representation agreement

Let's Work Together

Craig operates at the intersection of two of the most competitive real estate markets in the country — New Jersey and New York. For sellers, his foundation in marketing and sales translates into precise positioning, commanding attention from qualified buyers. For buyers, he brings the market intelligence and negotiating instincts to move decisively — and land on the right terms. Discreet, strategic, and unconditionally in your corner.

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