New Development Closing Cost Calculator for NYC
Calculate estimated closing costs for new construction properties in NYC.
Property Details
NYC and NYS Transfer Taxes
1-2 months common charges
For larger buildings
💡 New Development Costs
We assume the buyer pays these (common in new dev). If your sponsor covers them, toggle ‘Sponsor pays’ above.
Estimated Total Closing Costs
$89,900
Typical range varies based on financing, price, and building fees.
NYC RPTT (Transfer Tax)
$28,500
NYS Transfer Tax
$8,000
Sponsor Attorney Fees
$2,500
Mansion Tax
$25,000
Title Insurance (Owner)
$9,000
Buyer's Attorney Fee
$3,000
Move-In Deposit
$1,000
Title Search
$600
Board Application
$500
Move-In Fee
$500
Title Endorsements
$250
Deed Recording
$200
Credit Check
$100
Mortgage Recording Tax
$7,200
Title Insurance (Lender)
$600
Bank Attorney
$1,000
Loan Application
$1,000
Appraisal Fee
$750
Mortgage Recording Fee
$200
New Development: In NYC new developments, buyers typically pay transfer taxes (normally paid by sellers) plus sponsor attorney fees.
Detailed Cost Breakdown
| Fee Type | Amount |
|---|---|
NYC RPTT (Transfer Tax) Common residential rates: 1% ≤ $500k, 1.425% > $500k. | $28,500 |
NYS Transfer Tax Base is $2 per $500 (0.4%). Additional tax for NYC deals > $3M typically applies. | $8,000 |
Sponsor Attorney Fees | $2,500 |
Mansion Tax | $25,000 |
Title Insurance (Owner) | $9,000 |
Buyer's Attorney Fee | $3,000 |
Move-In Deposit | $1,000 |
Title Search | $600 |
Board Application | $500 |
Move-In Fee | $500 |
Title Endorsements | $250 |
Deed Recording | $200 |
Credit Check | $100 |
Mortgage Recording Tax | $7,200 |
Title Insurance (Lender) | $600 |
Bank Attorney | $1,000 |
Loan Application | $1,000 |
Appraisal Fee | $750 |
Mortgage Recording Fee | $200 |
| Total Buyer Pays | $89,900 |
Purchase Summary
Purchase Price
$2,000,000
Down Payment
$1,600,000
Total Cash Needed
$1,689,900
Choose How You Want to Connect?
Licensed real estate broker in NYC & NJ with over 25 years of experience. Specializing in residential sales, new developments, and investment properties. Let me help you find your perfect home and maximize your rebate.