Closing Costs for the Chelsea Mercantile

Co-Operative Apartments

Seller Side

 

Own Attorney

$1,200 & up *

Stock Transfer Stamps

$.05 per share

NYC RPT Tax

1% of purchase price if $500,000 or less of the entire amount
1.425% of purchase price if over $500,000 of the entire amount

NYS Transfer Tax

$4 per $1,000 of purchase price

UCC-3 Filing

$75 + up

Flip Tax (if applicable)

Determined by cooperative building

Payoff Bank Fees (if applicable)

$300 + up

Managing Agent Fee

$500 - $750

Move-Out Deposit

$500 - $1,000 (usually refundable if no damage)

Broker Comission

6% of purchase price

Purchaser Side

 

Own Attorney

$1,200 + up*

Managing Agent Application Fee

$250 - $500

Credit Report Fee

$50 - $100 per applicant

Lead Based Paint Disclosure Fee

$0 - $50

Mansion Tax

1% of purchase price where $1 million and over

Move-in Deposit

$500 - $1,000 (usually refundable if no damage)

Mortgage Associated Fees:

Origination Costs – points

0 - 3% value of loan

Application, Credit Check, etc.

$500 + up

Appraisal

$275 + up

Bank Attorney

$500 + up

UCC-1 Filing

$50 + up

Recognition Agreement Fee

$200 + up

Lien Search

$250 - $350

Condominium Apartments/Townhouses

Seller Side

 

Own Attorney

$1,200 & up *

NYC RPT Tax

1% of purchase price if $500,000 or less of the entire amount
1.425% of purchase price if over $500,000 of the entire amount

NYS Transfer Tax

$4 per $1,000 of purchase price

UCC-3 Filing

$75 + up

Payoff Bank Fees (if applicable)

$300 + up

Managing Agent Fee

$500 - $750

Move-Out Deposit

$500 - $1,000 (usually refundable if no damage)

Broker Comission

6% of purchase price

 

Purchaser Side

 

Own Attorney

$1,200 + up*

Managing Agent Application Fee

$250 - $500

Credit Report Fee

$50 - $100 per applicant

Lead Based Paint Disclosure Fee

$0 - $50

Mansion Tax

1% of purchase price where $1 million and over

Move-in Deposit

$500 - $1,000 (usually refundable if no damage)

Mortgage Associated Fees:

Origination Costs – points

0 - 3% value of loan

Application, Credit Check, etc.

$500 + up

Appraisal

$275 + up

Bank Attorney

$500 + up

UCC-1 Filing

$50 + up

Mortgage Recording Tax

up to $500,000 is 1.8% of mortgage; over $500,000 is 1.925% of mortgage

Title Insurance, Title Search & Recording Fees

not more than 0.5% of purchase

Building Searches

$200 - $400

Recording Charge

$17 per document plus $5 per page

If Purchased Directly from Sponsor

NYC RPT Tax

1% of purchase price up to $500,000
1.425% of purchase price over $500,000

NYS Transfer Tax

$4 per $1,000 of purchase price

 

 

Costs can vary for some transactions. All information is subject to errors, omissions and changes in facts or circumstances.
Always consult your attorney.