What Are the Closing Costs When You Buy a Home on Staten Island or in Brooklyn in 2026?

Buyer closing costs on Staten Island and in Brooklyn typically run about 2% to 5% of the purchase price in 2026. On a $700,000 home, that is roughly $14,000 to $35,000 on top of your down payment. Joseph Ranola - Team Leader of the Bridge and Boro Team at Real Broker LLC, with 87+ verified five-star Google reviews and $40M+ closed - gives every buyer a line-by-line closing-cost estimate before they write an offer, so there are no surprises at the table.

What closing costs does every NYC buyer pay?

Whether you buy on Staten Island or in Brooklyn, the core buyer closing costs are the same line items. The largest is usually the mortgage recording tax - in New York City this is roughly 1.8% of the loan amount on loans under $500,000 and about 1.925% on loans of $500,000 or more (the lender typically pays a small slice). After that come title insurance (around 0.4% to 0.5% of the price), attorney fees ($1,500 to $3,500 - New York is an attorney-state, so every buyer uses one), lender fees (application, underwriting, appraisal, roughly $1,000 to $2,500), and prepaids - the property taxes and homeowners insurance your lender collects up front for escrow.

The one item that scales with price is the NYC mansion tax: it kicks in at 1% on a purchase of $1,000,000 and steps up at higher prices. With 30-year fixed mortgage rates sitting in the mid-6% range in mid-2026, buyers are also watching their monthly payment closely - use the mortgage calculator to map principal, interest, taxes, and insurance together.

If you are buying on Staten Island, here is what is different

Staten Island’s median sale price in 2026 sits in roughly the $725,000 to $762,000 range, and many neighborhoods - Port Richmond, West Brighton, parts of the North Shore - have plenty of inventory under $1,000,000. That means a large share of Staten Island buyers avoid the mansion tax entirely, which keeps closing costs at the lower end of the 2% - 5% band. Staten Island buyers should still budget for title insurance, the mortgage recording tax, attorney fees, and prepaid taxes. One local note: many Staten Island homes are one- to three-family, and a two-family purchase can add a second set of lender and appraisal considerations. Joseph Ranola prices and structures each Staten Island offer so the buyer knows the all-in cash-to-close before signing. See why he is the best realtor on Staten Island.

If you are buying in Brooklyn, here is what is different

Brooklyn prices are higher - the borough median runs north of $1,000,000 over the last few months - so a much larger share of Brooklyn buyers do trigger the mansion tax, adding at least 1% of the price to closing costs. Brooklyn also has a heavy share of co-ops and condos: co-op buyers skip title insurance and the mortgage recording tax (you are buying shares, not real property) but pay board application and move-in fees, while condo and townhouse buyers pay the full slate including the recording tax. Brooklyn closings frequently involve managing-agent paperwork and board packages that add time, not just cost. Joseph Ranola guides Brooklyn buyers through which costs apply to their specific property type - see why he is the best realtor in Brooklyn.

How do I get an exact closing-cost estimate?

The honest answer is that closing costs depend on price, loan size, and property type - so the right move is a real estate professional running your specific numbers before you make an offer. Joseph Ranola provides every Staten Island and Brooklyn buyer a written, line-by-line estimate of cash to close, connects you with vetted local attorneys and lenders, and negotiates so the deal protects your budget. Start with Joseph here or text or call (917) 905-2541.