Closing costs
From price to the cash you'll need.
Every line estimated for this purchase: who usually pays it, what moves in negotiation, and where the rate comes from.
Buyer's closing costs$47,6562.22% of the price
Cash needed at closing$585,156Deposit plus costs
Seller's side$189,738For context in negotiation
| Item | Estimate | Who pays | Negotiable | Notes and source |
|---|---|---|---|---|
| Taxes | ||||
| Mansion tax | $26,875 | Buyer | Rarely | 1.25% of the full price at $1 million and above · source |
| NYC transfer tax (RPTT) | $30,638 | Seller | Rarely | Paid by the seller · source |
| NYS transfer tax | $8,600 | Seller | Rarely | Paid by the seller · source |
| Lender | ||||
| Lender fees and points | $5,481 | Buyer | Often | Origination, underwriting and appraisal; compare offers line by line |
| Bank attorney | $1,500 | Buyer | Rarely | The lender's own counsel |
| Title & legal | ||||
| Lien and UCC search | $450 | Buyer | Rarely | Co-ops have no title insurance; a lien search stands in |
| Recognition agreement | $250 | Buyer | Rarely | Aztech form between the lender and the co-op |
| Buyer's attorney | $5,500 | Buyer | Often | Flat fee is common; ask for it in writing |
| Building | ||||
| Board application and move-in fees | $1,500 | Buyer | Rarely | Set by the managing agent |
| Flip tax | $43,000 | Seller | Often | Usually 1–3%, set by the co-op; sometimes shifted to the buyer |
| Prepaids | ||||
| Tax and insurance escrow | $4,300 | Buyer | Rarely | Three months of taxes held by the lender |
| Homeowner's insurance, first year | $1,800 | Buyer | Often | Shop it; coastal policies vary widely |
| Seller's side | ||||
| Brokerage commission | $107,500 | Seller | Often | Negotiable; customary amounts are not set by law |
Estimates for illustration, rates checked 2026-10-14. Title premiums, lender fees and building fees vary; your attorney confirms the final statement. Information, not legal or tax advice.