310 West 113th Street, Apt 401

Are you planning on getting a mortgage for this Harlem 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 $139,900 down to purchase this two-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 310 West 113th Street is selling for $1,399,000 you’ll be hit with a tax for $13,990.

Remember that if you’re purchasing a Condo in a new development or a sponsor unit, you’ll likely be responsible for paying some of the sellers closing costs.

Closing costs seem too high? You can mitigate them and earn up to a $27,980 commission rebate when you purchase this two-bedroom Condo at 310 West 113th Street, Apt 401.