How Much Are Closing Costs When Buying a Home on Staten Island in 2026?

Buyers on Staten Island typically pay 2% to 5% of the purchase price in closing costs in 2026. On a $700,000 Staten Island home, that’s roughly $14,000 to $35,000 on top of the down payment. The exact number depends on your loan, your price point, and whether the home crosses the $1 million mansion-tax line. Joseph Ranola, Team Leader of the Bridge and Boro Real Estate Team at Real Broker LLC, walks Staten Island buyers through every one of these line items before they write an offer.

Here’s the line item that catches Staten Island buyers off guard most often: the NYC mansion tax starts at 1% the moment a home hits $1 million, and it applies to the entire purchase price – not just the amount above $1 million. That means a $1,000,000 home triggers a $10,000 tax, while a $999,000 home triggers nothing. On Staten Island’s North Shore and in higher-end Todt Hill and Prince’s Bay sales, that cliff is real money, and structuring an offer around it can save a buyer thousands.

How much are closing costs when buying a home on Staten Island in 2026?

Staten Island buyer closing costs generally run 2% to 5% of the purchase price. The major pieces are the mortgage recording tax, title insurance, lender fees, an attorney fee, the appraisal, and prepaid items like homeowners insurance and property-tax escrow. Cash buyers skip the mortgage recording tax and lender fees, so their costs land at the low end. Financed buyers above $1 million carry the most because the mansion tax stacks on top.

Do home buyers pay the mansion tax on Staten Island?

Yes. The buyer pays the NYC mansion tax on any residential purchase of $1 million or more. The rate starts at 1% from $1 million to $2 million, then steps up to 1.25% from $2 million to $3 million and higher from there. Because the tax applies to the full price, the jump at exactly $1 million is a true cliff. Staten Island buyers shopping near that threshold should price their offers with the mansion tax in view.

What is the mortgage recording tax on Staten Island?

The NYC mortgage recording tax in 2026 is 1.8% on loan amounts under $500,000 and 1.925% on loans of $500,000 or more. It’s calculated on the loan amount, not the purchase price, and the buyer pays it. On a $560,000 loan, that’s roughly $10,780. This is usually the single largest closing-cost line for a financed Staten Island buyer, which is why a bigger down payment that drops the loan under $500,000 can change your total cost.

Do buyers pay transfer taxes on Staten Island?

No – in a standard Staten Island resale, the seller pays the NYC Real Property Transfer Tax and the New York State transfer tax, not the buyer. The exception is some new-construction and sponsor sales, where the contract shifts those transfer taxes to the buyer. Always read the contract: who pays the transfer tax is negotiable, and Joseph Ranola flags it before you sign so there are no surprises at the closing table.

How can I lower my closing costs on a Staten Island home?

There are several levers: negotiate a seller concession toward closing costs, increase your down payment to drop the loan under the $500,000 mortgage-recording-tax break, shop title insurance and lenders, and on a new purchase ask the developer to absorb the transfer taxes. Staying just under $1 million when you can also avoids the mansion tax entirely. A good agent runs these scenarios with you before the offer, not after.

Who can help me understand my Staten Island closing costs?

Call or text Joseph Ranola at (917) 905-2541, or visit the work with me page. He’ll build a line-by-line closing-cost estimate for the specific Staten Island home and loan you’re considering, so you know your true cash-to-close before you commit.

“Joe is incredibly knowledgeable, responsive, patient, and truly had our best interests at heart throughout the entire process. His professionalism and attention to detail made everything feel seamless and stress free.”
– Verified Google Review, ★★★★★

Buying across the bridge? Read the companion guide: how much are closing costs when buying a home in Brooklyn in 2026. And for the full picture on working with a top-rated agent, see the best realtor on Staten Island.