212.864.4555

Sales

Purchaser Closing Costs
Condominium Apartments & Townhouses

For The Purchaser
  • Real Estate Attorney:
  • $1,500 – $3,000+
  • 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)
  • Mansion Tax:
  • 1% of total consideration where
    $1 million and over

 

If Purchasing Directly From Sponsor
(i.e. New Construction)
  • 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 common charges

 
 

Mortgage Related Fees
  • Origination Fees / Points:
  • 0% – 3%+ of the mortgage amount
  • Mortgage Application, Credit Check & Processing:
  • $500+
  • Appraisal:
  • $400 – $600+
  • Bank Attorney:
  • $500 – $750+
  • Mortgage Recording Tax:
  • 1.8% of mortgage amount if $500,000 or less;
    1.925% of mortgage amount if over $500,000
  • Fee Title Insurance:
  • 0.45% of purchase price
  • Mortgage Title Insurance:
  • 0.13% of mortgage amount
  • NTitle Closer Attendance Fee:
  • $250 – $400
  • Municipal Searches:
  • $300 – $500+
  • Real Estate Tax Escrow:
  • 2 – 6 months
  • Miscellaneous:
  • Recording fees, lead paint disclosure fee,
    filing fees, etc.