NYC Closing Costs

NYC Real Estate Closing Costs

When purchasing or selling property in New York City, closing costs can be a difficult concept to understand. To assist you in navigating these fees, we have compiled a list of estimates and calculators that will help you plan for the costs associated with your transaction. It is mandatory for lenders to provide an accurate good faith estimate of all settlement costs when obtaining a mortgage loan. At your real estate closing, you will need a cashier’s check or bank wire to pay for the seller's closing costs. According to New York State Law, a written engagement letter is required if the legal fee exceeds $3,000. 

When dealing with seller closing costs in New York State, it is important to consider who will be responsible for the payment of these costs. By familiarizing yourself with the seller's closing costs associated with purchasing or selling property in New York City and using our available calculators and estimates, you will be better prepared for the costs associated with your real estate transaction.


Verify all closing expenses for a particular transaction with your real estate attorney or mortgage agent.


Closing Cost Calculator

Property Details



Closing Costs for Buyers


Your Attorney
Consult your attorney
0–3% of loan value
Bank Application, Credit Check, etc.
Bank Attorney
Board Package Processing Fee
Tax Escrow
2–6 months of taxes
Move-in Deposit
$500–$2,000 (refundable)
Recording Fees
Mortgage Tax (less than $500,000)
Mortgage Tax
($500,000+ on 1–3 family dwellings)
Mortgage Tax
(all other property types over $500,000)
Title Insurance
0.5%–0.8% depending upon the purchase price
Violation Search
Common Charges Adjustment
Pro-rated during for the month of closing
Real Estate Tax Adjustment
Pro-rated amount depends on when the tax is collected
Mansion Tax
1% of price for all sales over $1,000,000
Residential NYC Transfer Tax*:
up to $500,000
Residential Deed Transfers
NY State Transfer Tax*
$4 per $1,000 of price
Title Fee Closer