What Are the True Hidden Costs of Buying in NYC? A 2025 Expert Guide to Taxes, Fees, and Carrying Expenses

Buying real estate in New York City is famously complex, characterized by unique statutory requirements and fees that often blindside even financially sophisticated buyers. While the down payment and mortgage principal capture most of the initial attention, the true barrier to entry often lies in the volume and progressive nature of the secondary expenses—the hidden costs.

These additional costs are formally categorized as "closing costs,"