---
title: "NYC Closing Cost Calculator"
description: "Free NYC closing cost calculator for condos, co-ops & new developments. Estimate mansion tax, mortgage tax, title insurance & attorney fees."
url: "https://realestaterebatesnewyork.com/calculators/buyer-closing-cost-calculator"
source: "Real Estate Rebate Team"
---

Real Estate Rebate Team


Licensed Broker NY & NJ · License: 10491211335


Estimated Closing Costs

$19,950

Estimated Total Cash Needed

$219,950


1.99% of purchase price

Email My Estimate


Purchase Price

$1.0M


Down Payment

$200K


Amount Financed

$800K


Estimated Closing Costs

$20K


Total Cash Needed

$220K


### Key Cost Drivers


Mansion Tax

$10,000


Applies to qualifying purchases of $1M or more.


Attorney & Sponsor Fees

$4,000


Includes buyer attorney fees and sponsor-related legal/document fees.


Other

$5,950


Includes board application, move-in, title search, and other miscellaneous fees.


### Detailed Breakdown

“Co-op Savings: Co-ops do not require title insurance or mortgage recording tax, resulting in significantly lower closing costs.”

Fee TypeAmount
Mansion Tax$10,000
Buyer's Attorney Fee$4,000
Move-In Deposit$1,000

View Detailed Cost BreakdownTotal Estimated Closing Costs$19,950


## Frequently Asked Questions
What are buyer closing costs in NYC?
Do buyers pay broker fees?
How much is title insurance?


### Fee Glossary


#### Attorney Fees


Your real estate attorney handles document preparation and provides legal advice throughout the purchase process.


#### NYC Mansion Tax


A progressive transfer tax on properties $1M+, ranging from 1% to 3.9% based on purchase price tiers.


#### Title Insurance


Protects against loss of ownership due to legal defects. Required for condos and townhouses with mortgages, not applicable to co-ops.


#### Mortgage Recording Tax


1.8% on mortgages under $500K, 1.925% above. Applies to condos and townhouses only, not co-ops.


## Review Your Closing Costs Before You Make an Offer

Get private guidance on pricing, closing costs, and eligible Buyer Advantage structures before you move forward.
[Schedule a Private Consultation](https://calendly.com/real-estate-rebate-info/30min)[Estimate Your Buyer Advantage →](https://realestaterebatesnewyork.com/buyer-advantage)


Chat with us on WhatsApp

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