52 Laight Street, Apt 5

Are you planning on getting a mortgage for this TriBeCa Condo? In Manhattan, New York, you’ll be expected to put up a down payment ranging from 10% to 20% of the purchase price. That means that if you’re putting 10% down you’ll need to put $475,000 down to purchase this three-bedroom Condo

Don’t forget that NYC closing costs are notoriously high. The biggest fee is generally the mortgage recording tax which is equivalent to 1.8-1.925% of your loan.

You’ll also be responsible for paying the NYC mansion tax, which is applied to all properties above $1 million on a sliding scale. As this Condo at 52 Laight Street is selling for $4,750,000 you’ll be hit with a tax for $71,250.

Closing costs seem too high? You can mitigate them and earn up to a $95,000 commission rebate when you purchase this three-bedroom Condo at 52 Laight Street, Apt 5.