04 · Closing Costs
Every line item, none of the surprises.
Buyer-side NYC closing costs vary by property type. Condos and townhouses pay mortgage recording tax and title insurance; co-ops have UCC-1, lien search, recognition agreement, and stock transfer instead. Townhouses add survey, inspections, and water/sewer searches. We model each correctly.
Inputs
Property type
Professional + lender
Title
Building / board
Prorated adjustments at closing
Total closing
Cash needed at closing
$44,105
Plus your 20% down payment of $240,000. Refundable move-in deposit of $1,000 is collected at closing but not included above.
Mansion tax
Progressive 1.0% → 3.9% on residential ≥ $1M. Paid by buyer. 1.00% tier · $12,000.
$12,000
Mortgage recording tax
1.8% (<$500K) or 1.925% (≥$500K) of loan, less 0.25% the lender pays.
$16,080
Title insurance
~0.4–0.5% of price — protects your ownership.
$5,400
Mortgage title policy
$2,400
Title search & exam
$1,000
Attorney fee
$3,500
Bank / lender fees
Origination, appraisal, application.
$2,000
Condo application fee
$750
Move-in fee
Non-refundable
$500
Common charges adjustment
Prorated at closing.
$0
Real estate tax adjustment
Prorated at closing.
$0
Recording fees
$250–$500.
$400
UCC-1 filing
If applicable (~$75).
$75
Move-in deposit (refundable)
Returned after move-in if no damage. Not added to total.
$1,000
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