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$329,6555.32% of the price

Cash needed at closing$1,879,655Deposit plus costs

Seller's side$334,800For context in negotiation

Item	Estimate	Who pays	Negotiable	Notes and source
Taxes
Mansion tax	$62,000	Buyer	Rarely	1.00% of the full price at $1 million and above · source
Mortgage recording tax	$37,200	Buyer	Rarely	0.80% of the loan, after the lender's 0.25%; co-op share loans are not taxed · source
Peconic Bay CPF and housing fund tax	$155,000	Buyer	Rarely	2.5% of the full price; no exemption above $2 million · source
NYS transfer tax	$24,800	Seller	Rarely	Paid by the seller · source
Lender
Lender fees and points	$13,075	Buyer	Often	Origination, underwriting and appraisal; compare offers line by line
Bank attorney	$1,250	Buyer	Rarely	The lender's own counsel
Title & legal
Owner's title insurance	$26,040	Buyer	Often	Rates are filed with the state, but endorsements and the title company's fees vary
Lender's title policy	$7,440	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	$5,000	Buyer	Often	Flat fee is common; ask for it in writing
Prepaids
Tax and insurance escrow	$12,400	Buyer	Rarely	Three months of taxes held by the lender
Homeowner's insurance, first year	$9,500	Buyer	Often	Shop it; coastal policies vary widely
Seller's side
Brokerage commission	$310,000	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.