Thinking of opening a shop doing residential real estate. Anyone know how much attorneys charge for a NYC coop or condo purchase/sale?

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I’m in a much much lower cost of living place, but there’s no money in residential real estate most places. Realtors and title companies are more than capable of handing those transactions and are much much cheaper.

I sold a condo in Boston recently and my real estate attorney charged me $750, for comparison.

I used to practice RE law in NJ and most NY attorneys charge $2,500-3,000 for a simple RE closing. My understanding is that NYC’s condos or coops involve much more attorney work and I have seen NY attorneys charge either by hour or flat fees that are higher than $2,500-3,000. Having said that, in metro NYC area, I recognize this fee is still not enough to generate substantial revenue unless you do closings in volume, IMHO. Good luck!

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likeupliftinghelpful

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