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Answers to FAQ's by Foreigners Interested in Buying and Selling NY Real Estate

Mar 14, 2018 3:25:00 PM

As foreign buyer specialists, we are often asked many legal and tax questions by our foreign buyers. For instance, Can a foreigner buy property in the US? What taxes does a foreigner need to pay when buying Real Estate in New York? What is FIRPTA? Should I set up an LLC or should I buy in my own name? These are just a few of the questions that have been asked over and over from our foreign buyers.

Hudson Yards Project in NYC Taps Gehry and Calatrava Architects

Feb 20, 2018 5:37:08 PM

A gaggle of noteworthy architects are due to put their stamp on the Hudson Yards megaproject, but if the Wall Street Journal is to be believed, two bona fide starchitects may be joining their ranks.

WSJ reports that “a person familiar with the matter” claims that Santiago Calatrava and Frank Gehry have been tapped to design buildings for the megaproject’s second phase, due to rise over the west side rail yards (stretching between 30th to 33rd streets from Eleventh to Twelfth avenues).

The Foreign Buyer’s Checklist For Purchasing Manhattan Real Estate

Feb 20, 2018 11:03:00 AM

It’s estimated that 15% of the real estate transactions that occur in Manhattan are carried out by foreign buyers. These individuals are often in search of diversity and safety by investing in Manhattan real estate. Often, they are searching for a home for their child studying abroad, a second home for themselves, or an investment property that will provide yield and capital appreciation. In all cases, these buyers have unique needs and concerns. If you’re a foreigner looking to buy real estate in Manhattan, here’s a checklist to guide your search.

Adapting to Life in the USA

Feb 15, 2018 11:04:00 AM

Most foreign individuals moving to the USA already have a set of ideas about American culture. Media, politics, or history may leave individuals excited about the potential for the future, yet simultaneously nervous about the new people and places they will discover. If you’re preparing to buy residential property in the USA, here are some facts you’ll need to know, and advice for some things to do early on to ease the transition into a new culture.

Selling Your Manhattan Residential Property

Feb 13, 2018 12:04:00 PM

If you’ve reached the decision to sell your Manhattan property, you’ll be doing so in a fast-paced real estate climate. You’ll need to find a way to stand out in the crowd, impress people with your home’s layout and decoration, and then make sure you’re getting the best return on your investment possible. The following tips should help you to efficiently sell your Manhattan residential property as a foreign buyer.

How Are Resale Inventory Levels in the Manhattan Real Estate Market?

Feb 12, 2018 5:57:37 PM

"Buyers — A price correction already occurred, and over the last year or so the broader market has shown signs of stabilization and normalization. If you have a real need to buy and you find the right property, utilize this slow period for any leverage you can get in negotiations — you never know when a seller has had enough, and is ready to hit that bid."

Manhattan Real Estate Market Update Q4

Jan 31, 2018 3:10:10 PM

The fourth quarter of the 2017 real estate market in Manhattan is one best described as stable, with the last three out of four quarters showing an increase in closed sales activity. 2017 was a much better year than 2016, although there has been a marked drop in the number of signed contracts in the quarter year-over-year that can be primarily attributed to non-market factors such as tax reform and political climate.

4 Search Tactics for Manhattan Real Estate

Jan 18, 2018 7:42:00 AM

When a foreign buyer is looking for Manhattan real estate for sale, one of their biggest concerns is ensuring they’re truly seeing the properties that are the best fit for them. In such a vast market, with so many properties listed and sold each day, a foreign buyer wants the confidence that their broker is directing their attention to the right opportunities, and has the connections and abilities to seek them out. If you’re considering buying property in Manhattan, but don’t live inside the United States, here are some search tactics you and a broker can use to help you find the perfect property from abroad.

Tax Rules for Foreigners Buying Property in the United States

Jan 18, 2018 6:04:00 AM

Buying residential property in another country can be intimidating, but with the right broker partner, foreign citizens buying property in the United States have little to worry about. Foreign citizens are legally allowed to buy residential property in the United States, but they will have to follow certain tax rules both in the US and possibly in their home nations. Just because a buyer is a nonresident doesn’t automatically mean they must pay additional taxes. Some of these taxes might even be paid by a U.S. citizen, too, under certain circumstances. Here’s the US property tax specifics that foreign and luxury buyers need to be aware of when shopping for homes in Manhattan and Miami.

Tax Reform Effects on Real Estate Investors and Home Owners

Jan 17, 2018 2:09:43 PM

Now that tax reform has been passed by the US Congress, we know for sure that some people stand to gain significant wealth from the new tax rules that will be implemented in 2018. As a general matter, the new law is expected to be very favorable to investors of real estate and the wealthy, regardless of whether one is in a high-tax state or not.