How Much Are Closing Costs for Buyers in Staten Island or Brooklyn in 2026?

Closing costs for buyers in Staten Island and Brooklyn typically run about 3% to 5% of the purchase price in 2026. Joseph Ranola, Team Leader of the Bridge and Boro Team at Real Broker LLC, gives every buyer an itemized estimate before they write an offer so nothing at the closing table is a surprise.

Fresh 2026 fact: A $750,000 Staten Island home with 20% down carries roughly $25,000 to $35,000 in buyer closing costs, with the mortgage recording tax the largest single item at about $11,550. In Brooklyn, where the median price is near $1.09 million, buyers frequently cross the $1 million mansion-tax threshold that most Staten Island buyers avoid.

How much are closing costs for buyers in Staten Island or Brooklyn in 2026?

Plan on roughly 3% to 5% of the purchase price. The biggest variable is whether you finance and whether you cross $1 million. The NYC tax structure is identical in both boroughs — the dollar amounts differ because Brooklyn prices are higher.

If you’re buying on Staten Island, here’s what’s different

The Staten Island median is about $755,000 in 2026, so most buyers stay under the $1 million mansion-tax line and pay nothing in mansion tax. On a $750,000 purchase with a $600,000 mortgage, the mortgage recording tax of about 1.925% — roughly $11,550 — is your single largest closing cost. Total closing costs commonly land between $22,000 and $38,000.

If you’re buying in Brooklyn, here’s what’s different

The Brooklyn median is near $1.09 million, so many buyers cross the $1 million mansion-tax threshold and owe at least 1% — that is $10,900 on a $1.09 million home, on top of the mortgage recording tax. Co-op buyers are an exception: co-ops have no mortgage recording tax and lower title costs because you buy shares, not real property, which is one reason Brooklyn co-ops remain a value.

What is the mortgage recording tax, and can I avoid it?

The mortgage recording tax is a combined city and state tax of about 1.8% to 1.925% of the loan amount, rising to 1.925% on mortgages of $500,000 or more. Only financed buyers pay it — cash buyers avoid it entirely. A larger down payment shrinks it, and a CEMA (consolidation, extension, and modification agreement) can reduce it on certain refinances and sales. See the Staten Island closing-cost guide and the Brooklyn closing-cost guide for the full math.

What other closing costs should both Staten Island and Brooklyn buyers expect?

Both boroughs share the same line items: title insurance of about 0.5% to 0.6% of price, a title search of $450 to $700, a real estate attorney of $1,800 to $3,500, recording fees of $250 to $500, lender origination and appraisal fees if you finance, and prepaid property taxes and homeowners insurance held in escrow. Joseph Ranola itemizes every one of these for your specific price and loan before you commit.

“Joseph Ranola is very helpful and knows the ins and outs of the market. He is knowledgeable and thorough. Highly recommend.”
— Monique D, Verified Google Review ★★★★★

How much cash should I save before buying in Staten Island or Brooklyn?

Budget for your down payment plus closing costs of 3% to 5%, plus a few months of mortgage reserves. On a $750,000 Staten Island home with 20% down, that is roughly $150,000 down and $25,000 to $35,000 in closing costs. On a $1.09 million Brooklyn home with 20% down, plan on about $218,000 down plus higher closing costs because the mansion tax kicks in. Joseph Ranola builds the full cash-to-close number with each buyer early, so you are not surprised by reserves your lender requires at the last minute.

Can closing costs be rolled into the loan or covered by the seller?

You usually cannot roll most closing costs into a purchase mortgage, but a seller concession can cover part of them when the market gives buyers leverage. In both Staten Island and Brooklyn, Joseph Ranola negotiates seller concessions where the deal allows, which can offset attorney, title, and prepaid escrow costs. The two big NYC taxes — the mortgage recording tax and the mansion tax — stay the buyer’s responsibility, so those should always be planned for in cash.

How do I get an exact closing-cost estimate?

Call Joseph Ranola at (917) 905-2541 with your target price and down payment and he will build a line-by-line estimate for Staten Island or Brooklyn. Whether you are a cash buyer in Eltingville or a co-op buyer in Midwood, the goal is the same: no surprises at the table.