Closing Costs

For Coop

Broker: Typically 6%.
Own Attorney: Typically start at $1500. Consult your own attorney
Co-op Attorney (Transfer Agent): $500
Flip Tax: Varies. Usually 1%-3.5% of purchase price (if applicable)
Stock Transfer Tax: $0.05 per share
Move-out Deposit: $500.00+ (sometimes refundable)
NY City Transfer Tax: 1% of price up to $500,000.00; or,
1.425% of price if $500,000.00 and over. Add $25 for filing fee.
NY State Transfer Tax: $2.00 per $500.00 of price, or 0.4% of purchase price
Payoff Bank Fee: $300
UCC-3 Filing Fee: $30

For Condo/Townhouse

Broker: Typically 6%.
Own Attorney: Typically start at $1500. Consult your own attorney.
Managing Agent Processing Fee: $450+
Move-out Deposit: $500+ (sometimes refundable)
NY City Transfer Tax: 1% of price up to $500,000; or,
1.425% of price if $500,000 and over. Add $25 administrative fee.
NY State Transfer Tax: $2.00 per $500.00 of price, or 0.4% of purchase price
Miscellaneous Title Fees: $200
Payoff Fee to Title Closer: $300+

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