Closing Costs for the Buyer of a Manhattan Co-op
New York State Law requires a written letter of engagement if the legal fee will exceed $3,000. Non New York State residents should procure exemption for state transfer tax forms (TP-584) . These are only estimates. Please confirm closing costs for specific transactions with your attorney and/or mortgage representative.

Attorney$2,000 - $5,000*
Managing Agent Application Fee$500- $750
Credit Report Fee$50 - $100 per applicant
Lead-Based Paint Disclosure Fee$0 - $50
Mansion Tax1% of purchase price when priced over $1 million
Move-In Deposit$500 - $1,000 (usually refundable if no damage)
Origination Costs -Points 0 - 3% value of loan
Application , Credit Checks, etc.$500 & up
Appraisal$275 & up
Bank Attorney$500 & up
UCC-I Filing$50 & up
Recognition Agreement Fee$200 & up
Lien Search$350
Maintenance AdjustmentProrated for month of closing

* Check with bank/mortgage broker for additional fees . 

Revised 04-16
Lee Presser
Lee Presser
Licensed Associate Real Estate Broker