212.864.4555

Sales

Purchaser Closing Costs
Co-operative Apartments

For The Purchaser
  • Real Estate Attorney:
  • $1,500 – $3,000+
  • Mansion Tax:
  • 1% of total purchase consideration
    where $1 million and over
  • Managing Agent Application / Processing Fees:
  • $500 – $1,000+
  • Credit Report Fee:
  • $50 – $100+ per applicant
  • Move-In Deposit / Fee:
  • $500 – $1,000+ (varies by building)

 

If Purchasing Directly From Sponsor
  • New York City (NYC) Real Property
    Transfer Tax:
  • 1% of purchase price if $500,000 or less;
    1.425% of purchase price if over $500,000
  • New York State (NYS) Transfer Tax:
  • 0.4% of purchase price
  • Sponsor’s Real Estate Attorney:
  • $1,500 – $3,000+
  • Reserve Fund Contribution:
  • 2+ months of maintenance

 
 

Mortgage Related Fees
  • Origination Fees / Points:
  • 0% – 3%+ of the mortgage amount
  • Mortgage Application, Credit Check & Processing:
  • $500 – $1,000+
  • Appraisal:
  • $400 – $600+
  • Bank Attorney:
  • $500 – $750+
  • Recognition Agreement Fee:
  • $200+
  • Lien Search Fee:
  • $250 – $500+
  • UCC-1 Filing Fee:
  • $100+
  • Miscellaneous:
  • Lead paint disclosure fee, maintenance adjustment,
    filing fees, Co-op charges, etc.