NYC Condo Closing Costs Calculator

Property Details

Purchase Price

Mortgage Amount

Broker Commission (%)

Buyer/Seller Attorney Fee Both buyer and seller are responsible for engaging their respective attorneys and negotiating legal fees. Real estate attorneys in NYC typically operate on a flat fee basis depending on the complexity of the transaction.

Building Flip Tax Specify the condo flip tax payable by the seller, if applicable. This closing cost is often referred to as a transfer fee or resale fee, and it varies by building. The majority of condo buildings in NYC do not levy a flip tax.

Capital Contribution Fee Specify the buyer capital contribution fee payable to the condominium, if applicable. A building may levy both a seller flip tax and buyer capital contribution fee, one or the other, or neither.

Estimated Buyer Closing Costs
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Buyer's Attorney Fee
Capital Contribution Fee
Loan Application Fee
Bank Attorney Fee
Loan Appraisal Fee
Board Application Fee
+ Recording Fees
Move-In Fee
FinCen Prep Fee Only applicable if the buyer is an LLC.
Estimated Buyer Closing Costs:
Estimated Seller Closing Costs
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NYS Transfer Tax
Seller's Attorney Fee
Building Flip Tax
Managing Agent Closing Fee
Move-out Fee
Mortgage Payoff Fees Only appilcable if the seller has an outstanding mortgage. Includes both a bank loan satisfaction fee and a municipal recording fee.
Seller's POA Recording Fee A seller's power of attorney is only necessary in the case of a remote closing if the seller is not an LLC.
Estimated Seller Closing Costs
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Reduce your closing costs when buying in NYC with a Hauseit Buyer Closing Credit.

NYC Condo Closing Costs FAQ

How much are condo buyer closing costs in NYC?

Condo buyer closing costs in NYC are approximately 4% if you’re financing and 2% if you’re paying cash. New development closing costs are slightly higher. You can reduce your buyer closing costs in NYC by requesting a commission rebate.

How much are condo seller closing costs in NYC?

Condo seller closing costs in NYC are 8% to 10%. Closing costs include a traditional 6% broker fee, NYC & NYS Transfer Taxes of 1.4% to 2.075%, building closing fees and attorney expenses. Save up to 6% when selling with Hauseit Agent Assisted FSBO or consider 1% Full Service.

How much are condo new development closing costs in NYC?

New development buyer closing costs in NYC are 4% to 6%. Closing costs are higher for new construction condos because it’s customary for the buyer to pay NYC & NYS Transfer Taxes, sponsor attorney expenses and building fees. New construction closing costs are often negotiable, and you can also save money by requesting a commission rebate.

Reduce your commission bill when selling in NYC with Hauseit Agent Assisted FSBO or 1% Full Service.

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