NYC Closing Costs
- Co-ops
For the Seller
- Broker:
- Typically 6% of purchase price
- Own Attorney:
- Consult your attorney
- Co-op Attorney:
- $450+
-
Flip Tax:Transfer Tax:
-
Typically 1% to 3% of price (if applicable)$0.05 per share
- Move-out Deposit:
- Varies by building 1
- NYC Transfer Tax:
- 1% of price up to $500,000; or 1.425% of price if > $500,000
- NY State Transfer Tax:
- $4 per $1,000 of price
- Pick-up / Payoff Fee:
- $250-$500
- UCC-3 Filing Fee:
- $100
- Miscellaneous Co-op Charges:
- Vary by building
For the Purchaser
- Buyer’s Attorney:
- Consult your attorney
- Bank Fees:
- $350-$750
- Application Fee:
- $350
- Processing Fee:
- $280
- Appraisal Fee:
- $300-$1,500 (depending on sales price)
- Credit Report Fee:
- $9.80 single/$14.60 joint
- Bank Attorney:
- $750-$850
- Lien Search:
- $250-$350
- UCC-1 Filing Fee:
-
$1001% of entire purchase price where price is > $1,000,000
Additional Real Estates Expenses
- Miscellaneous Co-op Charges:
- Vary by building
- Recognition Agreement Fee:
- $200+
- Maintenance Adjustment:
- Pro-rated for the month of closing
- Short Term Interest:
- Equal to interest for balance of month in which you close
For the Seller
- ********Broker:
- Typically 6% of purchase price
- Own Attorney:
- Consult your attorney
- Co-op Attorney:
- $450+
-
Flip Tax:Transfer Tax:
-
Typically 1% to 3% of price (if applicable)$0.05 per share
- Move-out Deposit:
- Varies by building 1
- NYC Transfer Tax:
- 1% of price up to $500,000; or 1.425% of price if > $500,000
- NY State Transfer Tax:
- $4 per $1,000 of price
- Pick-up / Payoff Fee:
- $250-$500
- UCC-3 Filing Fee:
- $100
- Miscellaneous Co-op Charges:
- Vary by building
For the Purchaser
- Buyer’s Attorney:
- Consult your attorney
- Bank Fees:
- $350-$750
- Application Fee:
- $350
- Processing Fee:
- $280
- Appraisal Fee:
- $300-$1,500 (depending on sales price)
- Credit Report Fee:
- $9.80 single/$14.60 joint
- Bank Attorney:
- $750-$850
- Lien Search:
- $250-$350
- UCC-1 Filing Fee:
-
$1001% of entire purchase price where price is > $1,000,000
Additional Real Estates Expenses
- Miscellaneous Co-op Charges:
- Vary by building
- Recognition Agreement Fee:
- $200+
- Maintenance Adjustment:
- Pro-rated for the month of closing
- Short Term Interest:
- Equal to interest for balance of month in which you close
