Property Spotlight
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New York For Sale
$900,000
2 Beds / 2 Baths
| Fireplace, Terrace and Washer & Dryer, Plus Elevator! The main amenities that any lucky buyer would be happy to have one of, and here you get them all!.. more >>
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Sutton Area For Sale
$600,000
1 Beds / 1 Baths
| Rarely available floor-through apartment in top drawer established coop on beautiful tree lined block. Living room faces sunny South onto 52nd Street and bedroom faces into quiet back yards... more >>
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New York For Sale
$585,000
1 Beds / 1 Baths
| Best priced one bedroom in the incomparable Plaza 400. Updated kitchen and bathroom, amazing closets and sunny South exposure. This full service luxury building offers every amenity imaginable... more >>
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New York For Sale
$568,000
1 Beds / 1 Baths
| Move right into this beautifully renovated junior two bedroom facing south onto gorgeous tree-lined block. Building is cooped since 1968 and has wonderful planted roofdeck and amazing staff... more >>
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New York For Sale
$499,000
1 Beds / 1 Baths
| Newly renovated one bedroom has brand new kitchen and has been refurbished throughout. Pleasant North and West views are quiet and overlooking back yards of brownstones... more >>
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New York For Sale
$410,000
0 Beds / 1 Baths
| Alcove studio in wonderful established doorman coop has open North views. Renovated kitchen, original bath in good condition. Gorgeous tree-lined block, wonderful full-time doorman and coop since 1968... more >>
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New York For Sale
$4,100
1 Beds / 1 Baths
| South facing into gorgeous planted garden of the Parc Vendome, this totally renovated apartment is exceptionally large and beautifully appointed. Top of line kitchen with window... more >>
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New York For Sale
$3,800
1 Beds / 1 Baths
| The Westmore is a white glove building with 24 hour services... more >>
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New York For Sale
$3,800
1 Beds / 1 Baths
| The Westmore is a white glove building with 24 hour services... more >>
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This closing cost guide is designed to give you the general costs associated with the purchase or sale of a cooperative, condominium or townhouse property. Please note that these are estimates and that potential buyers and sellers should consult their real estate attorney or financial advisor for specifics. Please take note we do not represent that these are the entirety of potential costs, but are only to be used as a guide. Mortgage closing cost estimates have been furnished by our affiliate, Preferred Empire Mortgage Company.
Condominiums
| For the Seller
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For the Purchaser
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| Broker: Typically 6%
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Buyer s Attorney: Consult your attorney
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| Own Attorney: Consult your attorney
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Bank Fees: $750
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| Processing Fee: $450+
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Application Fee: $500
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NYC Transfer Tax:
1% of price up to $500,000; or,
1.425% of price if $500,000 and over.
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Appraisal Fee: $300-$1,500 (depending on sales price)
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| NY State Transfer Tax: $4 per $1,000 of price
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Credit Report Fee: $9.80 single/$14.60 joint
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| Miscellaneous Title Fees: $200-$500
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Bank Attorney: $750-$850
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| Payoff Fee to Title Closer: $100-$300
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Tax Escrows: 2 to 6 months
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| Miscellaneous Condominium Charges: Vary by building
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Recording Fees: $250-$750
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| Note: For condominiums in new developments, the Purchaser will pay costs normally paid by the Seller. These include Seller attorney fees as well as NY and NYC Transfer Taxes.
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Mortgage Tax: 1.80% of amount of mortgage on loans under $500,000; or 1.925% of amount of mortgage on loans of $500,000 and over
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Fee Title Insurance: Approx. $450 per $100,000 of sales price under 1m - +15% on 1M or more
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Mortgage Title Insurance: Approx. $130 per $100,000 of mortgage amount
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Municipal Search: $350-$500
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Mansion Tax: 1% of entire purchase where price is $1,000,000 or more.
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ADDITIONAL REAL ESTATE EXPENSES
Common Charge Adjustment: Pro-rated for the month of closing
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Real Estate Tax Adjustment: Pro-rated depending on when the tax is collected
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Miscellaneous Condominium Charges: Vary by building
Short Term Interest: Equal to interest for balance of month in which you close
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Co-ops
| For the Seller
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For the Purchaser
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| Broker: Typically 6% |
MORTGAGE CLOSING COSTS
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| Own Attorney: Consult your attorney |
Buyer s Attorney: Attorney: Consult your attorney
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| Co-op Attorney: $450+ |
Bank Fees: $350-$750
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| Flip Tax: Typically 1% to 3% of price (if applicable) |
Application Fee: $350
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| Stock Transfer Tax: $0.05 per share |
Processing Fee: $280
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| Move-out Deposit: Varies by building |
Appraisal Fee: $300-$1,500 (depending on sales price)
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| Flip Tax: Typically 1% to 3% of price (if applicable) |
Application Fee: $350
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| NYC Transfer Tax: 1% of price up to $500,000; or 1.425% of price if $500,000 and over. |
Credit Report Fee: $9.80 single/$14.60 joint
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| NY State Transfer Tax: $4 per $1,000 of price |
Bank Attorney: $750-$850
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| Pick-up / Payoff Fee: $250-$500 |
Lien Search: $250-$350
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| UCC-3 Filing Fee: $100 |
UCC-1 Filing: $100
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| Miscellaneous Coop Charges: Vary by building |
Mansion Tax: 1% of entire purchase price where price is $1,000,000 or more.
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ADDITIONAL REAL ESTATE EXPENSES
Miscellaneous Co-op Charges: Vary by building
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Recognition Agreement Fee: $200+
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Maintenance Adjustment: Pro-rated for the month of closing
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Short Term Interest: Equal to interest for balance of month in which you close
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Equal Housing Opportunity