Closing Cost Calculator
What you wire at closing in New York City is not the purchase price. Between the mansion tax, the mortgage recording tax and title insurance, a buyer typically needs another 1% to 6% on top — and which end of that range you land on depends mostly on two things nobody tells you until you are already in contract.
The contract price. The mansion tax is charged on this whole number, not on the amount above $1M.
Estimated closing costs
$24,000
1.6% of the purchase price
With a 20% down payment of $300,000, you need about $324,000 in cash at closing.
- Mansion tax1% of the full purchase price — NY State, paid by the buyer at $1M and above$15,000
- Your attorney(typical)flat fee per transaction, typically $3,500–$4,500$4,000
- Bank and financing fees(typical)appraisal, application, credit check and the bank's attorney$3,000
- Building application fees(typical)board application, credit check, move-in deposit — varies a lot by building$2,000
The same purchase as a condo would cost $26,850 more to close. Co-ops avoid the mortgage recording tax and title insurance entirely, because you are buying shares in a corporation rather than real property.
What this does not include
- Your broker's commission — in a standard resale the seller pays it.
- Monthly carrying costs: common charges, maintenance, and property tax.
- Anything specific to your building or your lender's rate sheet.
- Co-op flip tax — a real cost, but it is the seller's in most buildings, and every building sets its own.
- Seller-side transfer taxes — on a resale these are not yours to pay.
Tax rates verified August 2026 against NY State mansion tax and transfer tax rates and NYC mortgage recording tax. This is an estimate, not a quote. Tax rates below are statutory and current as of the date shown; the fee lines are typical New York City figures and will move with your building, your lender and your attorney. Confirm every number with your attorney before you rely on it.
The numbers are the easy part
Everything on this page is public, computable, and on the page for free. What no calculator has is the part that actually moves a New York number: what a specific board has approved before, why the line above just traded 12% under, which seller will take a February closing. That is the conversation.