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$199,7564.12% of the price
Cash needed at closing$1,412,256Deposit plus costs
Seller's side$343,138For context in negotiation
| Item | Estimate | Who pays | Negotiable | Notes and source |
|---|---|---|---|---|
| Taxes | ||||
| Mansion tax | $72,750 | Buyer | Rarely | 1.50% of the full price at $1 million and above · source |
| Mortgage recording tax | $70,022 | Buyer | Rarely | 1.925% of the loan, after the lender's 0.25%; co-op share loans are not taxed · source |
| NYC transfer tax (RPTT) | $69,113 | Seller | Rarely | Paid by the seller · source |
| NYS transfer tax | $31,525 | Seller | Rarely | Paid by the seller · source |
| Lender | ||||
| Lender fees and points | $10,544 | Buyer | Often | Origination, underwriting and appraisal; compare offers line by line |
| Bank attorney | $1,500 | Buyer | Rarely | The lender's own counsel |
| Title & legal | ||||
| Owner's title insurance | $20,370 | Buyer | Often | Rates are filed with the state, but endorsements and the title company's fees vary |
| Lender's title policy | $5,820 | Buyer | Rarely | Issued at the same time as the owner's policy |
| Recording and filing fees | $750 | Buyer | Rarely | Deed, mortgage and transfer forms |
| Buyer's attorney | $5,500 | Buyer | Often | Flat fee is common; ask for it in writing |
| Building | ||||
| Move-in and application fees | $1,000 | Buyer | Rarely | Refundable deposits are excluded |
| Prepaids | ||||
| Tax and insurance escrow | $9,700 | 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 | $242,500 | 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.