Property · Our pick in New York
Buying in New York from overseas
The back story
About Buying in New York from overseas
Foreign nationals can buy property in New York, and condominiums are usually the simplest route because co-op boards often prefer buyers with US income and assets.
Choose a condo
Co-op boards review buyers closely and may prefer US-based finances, so overseas buyers usually look at condominiums, including new developments.
Financing
Some lenders offer mortgages to foreign nationals, often with larger deposits; many overseas buyers pay cash. Speak to a lender early.
Most overseas buyers choose condominiums.
When you sell
When a foreign owner sells US property, federal rules (FIRPTA) generally require part of the sale price to be withheld for tax. Take advice before you buy.
Your team
Work with a licensed New York broker, a New York real-estate attorney and a tax adviser in both countries.
Our advice: ask your attorney for a full estimate of closing costs, including the transfer and mansion taxes, before you make an offer.
Why it's on our list
- Choose a condo
- Financing
- When you sell
- Your team
Opening hours, prices and seasonal openings change, so please check with Buying in New York from overseas before you go.