image
podcast icon
EPISODE 32

Closing costs and a new downpayment solution

Host Emily Myers gets into the details of closing costs and how they can affect your buying power as well as closing credits—where the seller gives the buyer a financial sweetener. Plus, a conversation with the CEO of co-investment company who wants to put money into your NYC condo or townhouse purchase.
0:00
0:00
Headshot of Emily Myers
By Emily Myers  | June 14, 2019 - 12:00PM

Like any big financial transaction, when you buy or sell an apartment in NYC, you have to pay various fees and taxes. These are the closing costs. In this episode of the Brick Underground Podcast, we get a bit deeper into the more practical side of buying and selling an apartment in NYC and consider these payments—not just what they are, but how they might affect your buying power.

In a slower market, you might also see closing credits—money paid to the buyer from the seller. Adam Stone, real estate attorney and founder of The Stone Law firm, helps explain exactly what they are and how they might be used. 

Plus, a conversation with the CEO of a co-investment company who wants to put money into your NYC condo or townhouse purchase in exchange for a share of the proceeds when you sell. Not everyone has a wealthy relative who's happy to help you buy an apartment. Unison's founder says he's "democratizing the rich uncle."

We have a profile of a buyer who used this financing program to get on the property ladder in Williamsburg, now we speak to CEO Thomas Sponholtz and explore exactly who this arrangement might work for.  

We love to hear from our readers and listeners. Thanks to all those who have offered feedback on the podcast. You can contact us via our website or leave us a rating or review at Apple podcasts.

You Might Also Like

image
Buy Need help buying a place in New York City? This new company co-funds the down payment on a condo or brownstone
image
Sell The Brick Underground Podcast: The state of the NYC real estate market
image
Live The Brick Underground Podcast: All about co-living—what your options are and how to stay on the right side of the law
 
Headshot of Emily Myers

Emily Myers

Senior Writer/Podcast Producer

Emily Myers is a real estate writer and podcast host. As the former host of the Brick Underground podcast, she earned four silver awards from the National Association of Real Estate Editors. Emily studied journalism at the University of the Arts, London, earned an MA Honors degree in English Literature from the University of Edinburgh and lived for a decade in California.

SEE MORE BY Emily Myers »
Brick Underground articles occasionally include the expertise of, or information about, advertising partners when relevant to the story. We will never promote an advertiser's product without making the relationship clear to our readers.

topics:

buying Podcast
Apple Podcasts
Spotify
Google Podcasts
iHeart Radio
Stitcher

Subscribe to the podcast via the links above and please do leave us a rating or review. We'd love to hear your feedback on this or any of our other episodes. Send us AN EMAIL, sign up for our newsletter and follow us on SOCIAL MEDIA.

MORE FROM THE PODCAST ...
Aerial view of Brooklyn, Manhattan, and Williamsburg Bridges in New York City.

Office Hours with Sam Himmelstein

Tenant attorney Sam Himmelstein, a partner at Himmelstein McConnell Gribben & Joseph and a long time sponsor of Brick Underground sits down for the first live Brick Underground Office Hours to answer your renter's rights questions.
image

Racism and the lack of diversity in the appraisal business

In a conversation on the Brick Underground podcast with Jonathan Miller, president and CEO of appraisal firm Miller Samuel, he says racial bias in appraisals is probably as prevalent in NYC as it is in rest of the U.S. and blames the lack of diversity in the appraisal business. 
LISTEN
0:00
0:00
image

Making sense of the NYC real estate market with Jonathan Miller

In this episode of the podcast, appraiser Jonathan Miller, president and CEO of Miller Samuel, joins host Emily Myers to discuss what buyers, sellers, and renters in New York City can take away from the real estate data as we head into 2023. 
LISTEN
0:00
0:00
image

Predators in the NYC rental market, with Hannah Levintova from Mother Jones

Hannah Levintova, an investigative reporter with the national publication Mother Jones, talks to host Emily Myers about what she uncovered during her reporting on private equity landlords in NYC, the complicated structure of these entities, and how tenants can fight back. 
LISTEN
0:00
0:00
image
02.08.2022

Protecting against fire and floods in your NYC apartment

In this episode of the Brick Underground podcast, Robert O'Brien, co-founder of New York Fire Consultants, joins host Emily Myers to discuss how to protect yourself if there's a fire or flood water in your apartment or building.
LISTEN
0:00
0:00
image
07.14.2021

Finding a deal as NYC landlords pull concessions and raise rents

In this episode of the Brick Underground podcast, Adrian Savino, director of leasing and business development at Living New York, joins host Emily Myers to shed light on where the deals are for NYC rentals.
LISTEN
0:00
0:00
image
07.06.2021

Trading your NYC apartment for a cheap(er) vacation

Mary Lowengard, a contributing writer for Brick Underground, shares her experience swapping her Upper East Side apartment for places in the U.S. and Europe. 
LISTEN
0:00
0:00
image
06.16.2021

A guide to negotiating

Mike Walker, residential sales manager at R New York joins host Emily Myers for this guide to negotiating.
LISTEN
0:00
0:00
image
05.25.2021

Your NYC buying, selling, and ownership questions

As always, the Brick Underground podcast explores your housing issues so you can better navigate the market, find a deal, make sense of the legal jargon, and stay one step ahead of the competition whether you’re renting or buying.
LISTEN
0:00
0:00
Apple Podcasts
Spotify
Google Podcasts
iHeart Radio
Stitcher

Subscribe to the podcast via the links above and please do leave us a rating or review. We'd love to hear your feedback on this or any of our other episodes. Send us AN EMAIL, sign up for our newsletter and follow us on SOCIAL MEDIA.

Follow Brick on Instagram
@brickunderground | #brickunderground