NYC Buyer Closing Cost Calculator
Buying an apartment in NYC means more than the purchase price. Buyers routinely face closing costs of 3–6% on top — mansion tax, mortgage recording tax, title insurance, building fees, and attorney. Run the number live and see exactly where it lands.
A $1,500,000 condo purchase in Manhattan
Resale condo, 25% down ($1,125,000 loan), $4,500 attorney fee. Computed with the calculator above; each line shows the rate or basis it uses.
Taxes
$36,656- NYC mansion tax (1.00%)
- $15,000
- Mortgage recording tax (1.925%)
- $21,656
Paid by the buyer on residential purchases of $1 million or more; the rate steps up by price bracket (table below).
On the loan amount, condo and townhouse purchases only. A co-op loan is secured by shares, not a recorded mortgage.
Title, lender and legal
$18,125- Title insurance (0.45%)
- $6,750
- Buyer's attorney (estimate)
- $4,500
- Lender fees (estimate)
- $5,625
- Lender's attorney (estimate)
- $1,250
Building and closing
$9,200- Building fees (estimate)
- $3,500
- Working capital contribution (estimate)
- $900
- Property tax escrow (estimate)
- $4,500
- Recording and filing (estimate)
- $300
Buyer closing costs at $1,500,000, by property type
| Property type | Total | % of price |
|---|---|---|
| Condo | $63,981 | 4.27% |
| Co-op | $29,175 | 1.94% |
| Townhouse | $63,981 | 4.27% |
Estimates only. Taxes follow the published rates; lines marked as estimates vary by provider. Verify every line with your attorney before contract.
NYC mansion tax brackets
The rate applies to the whole price, not just the amount over the threshold, so a purchase just over a bracket line pays noticeably more tax than one just under it. The calculator flags a price within $100,000 of the next line.
| Purchase price | Rate | Tax at the bracket floor |
|---|---|---|
| Under $1,000,000 | None | — |
| $1,000,000 to under $2,000,000 | 1.00% | $10,000 |
| $2,000,000 to under $3,000,000 | 1.25% | $25,000 |
| $3,000,000 to under $5,000,000 | 1.50% | $45,000 |
| $5,000,000 to under $10,000,000 | 2.25% | $112,500 |
| $10,000,000 to under $15,000,000 | 3.25% | $325,000 |
| $15,000,000 to under $20,000,000 | 3.50% | $525,000 |
| $20,000,000 to under $25,000,000 | 3.75% | $750,000 |
| $25,000,000 and above | 3.90% | $975,000 |
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