Buying Manhattan Real Estate as a Foreign National: The Complete Guide

GUIDES · FOREIGN BUYERS

The structural map for non-US-resident buyers acquiring Manhattan luxury residential real estate — what buildings are accessible, what holding structures work, what taxes and disclosure obligations apply, what financing is available, and the substantive coordination with US and home-country tax counsel that every foreign-buyer transaction requires.

The Roebling Team at Compass · Foreign-Buyer Guide · 2026

---

Why the foreign-buyer transaction is structurally different

Manhattan luxury residential real estate is one of the largest and most consequential international residential markets in the world. The international buyer pool — anchored in the long-running and continuously refreshed waves of demand from Western Europe, the United Kingdom, Mexico, Brazil, the Middle East, mainland China, Hong Kong, Singapore, and the broader international wealth-concentration map — has been a substantive presence in the city's residential transactions for more than fifty years and has anchored multiple cycles of new-construction development specifically calibrated to international demand. The buildings that have most clearly defined the modern luxury-condominium tradition (15 Central Park West, 432 Park Avenue, 220 Central Park South, 53 West 53rd Street, 111 West 57th Street, and the broader supertall and luxury-condominium inventory) were each designed in substantial part to accommodate the international buyer demographic that the traditional Manhattan cooperative inventory does not.

But the foreign-buyer transaction is structurally different from the equivalent domestic transaction in ways that the buyer who has not previously transacted in the United States typically does not anticipate. The building-accessibility map is narrower than the domestic equivalent — most Manhattan cooperatives will not approve a foreign-buyer application, and the buyer is in practice limited to the condominium inventory and a small set of pied-à-terre-permitting cooperatives. The closing-cost economics include items (mortgage recording tax on financed condominiums, FIRPTA withholding planning) that the foreign buyer must specifically plan for. The federal income-tax, gift-tax, and estate-tax treatment of the foreign buyer is substantially less favorable than the treatment of US citizens and residents, with implications that can shape the structuring of the purchase and the long-term holding economics. The FinCEN beneficial-ownership disclosure rules, the anti-money-laundering compliance, and the wire-structuring requirements all impose specific procedural obligations that the buyer's home-country experience does not predict. And the coordination between US tax counsel, home-country tax counsel, the US transactional attorney, and (where applicable) the home-country wealth-management structure must be established before the apartment search begins — the structuring decisions that follow from this coordination cannot be reversed after a contract is signed.

This guide is the structural framing for the foreign-buyer transaction. It is calibrated to the buyer who has not previously acquired Manhattan residential real estate and who needs the framework before engaging with specific apartments. The buyer's specific situation — country of residence, holding-structure preferences, intended use, tax-treaty applicability — requires substantive coordination with qualified US and home-country tax counsel; this guide is the framework within which that coordination operates, not a substitute for it.

Building accessibility: the cooperative-vs-condominium distinction is decisive

The single most important structural fact for the foreign buyer is that the traditional Manhattan cooperative inventory — the prewar Park-and-Fifth tier-one cooperatives, the comparable Central Park West cooperatives, the Lower Fifth Avenue Gold Coast cooperatives, and the broader cooperative-tier inventory that represents approximately 70 to 75 percent of Manhattan apartment inventory — is, with limited exceptions, structurally inaccessible to foreign buyers.

The reasons are interrelated. Cooperative boards apply substantive review of every prospective shareholder, with evaluative criteria that include the buyer's financial qualification (assets, income, debt-to-income, post-closing liquidity), the buyer's personal-and-professional profile, the buyer's intended use, and the buyer's fit with the building's culture. Foreign-buyer applications present specific friction at each of these review dimensions:

Financial qualification documentation is harder to verify. Cooperative boards expect to see US tax returns, US employment verification, US bank statements, US-issued credit reports, and US-domiciled assets. Foreign buyers typically present home-country tax returns, home-country employment verification, foreign bank statements (often in foreign currency), no US credit history, and assets that may be in foreign-currency-denominated accounts or in foreign-jurisdiction entities. Verification of the foreign-buyer's financial profile requires document translation, currency conversion, foreign-entity due diligence, and a level of board-side substantive work that most cooperatives are unwilling to undertake.

Post-closing liquidity requirements are calibrated to US-domiciled assets. Cooperative boards typically require post-closing liquidity in the range of two to four years of all-in housing costs, held in accessible US-domiciled liquid assets. Foreign buyers whose primary liquidity sits in foreign-domiciled accounts or foreign-currency investments often cannot satisfy the requirement in the form the board expects, and structural workarounds (US-domiciled deposit accounts, US-domiciled investment portfolios) require the foreign buyer to restructure assets specifically for the application.

The cultural-fit assessment is calibrated to the building's resident demographic. Cooperative boards' substantive review includes assessment of how the buyer's presence will integrate into the building's existing shareholder community. Foreign-buyer applications, particularly those involving substantial international travel, intermittent New York presence, complex multi-jurisdictional business activities, and unconventional financial-structure profiles, often present challenges that the cooperative review process is calibrated to identify as concerns.

Primary-residence intent is the threshold question at most cooperatives. The great majority of tier-one Manhattan cooperatives require their shareholders to use the apartment as a primary residence. Foreign buyers whose intent is pied-à-terre use, dual-residence allocation, investment hold, or family-presence anchor are categorically misaligned with the building's structural requirements, regardless of financial qualification.

The cumulative effect: the traditional Manhattan cooperative inventory is, in practice, not the foreign-buyer market. Foreign buyers attempting to acquire tier-one Park-and-Fifth-Avenue or Central Park West cooperative apartments face board-review processes calibrated against them at multiple dimensions, and the rejection rate is meaningfully higher than the equivalent domestic-buyer application.

The condominium inventory, in contrast, is structurally accessible to foreign buyers. The condominium form, as covered in our Co-op vs Condo guide, does not subject the buyer to substantive board approval; the board's role is procedural (Right of First Refusal, application processing) rather than evaluative. Foreign buyers acquiring condominium apartments face the same procedural application process as domestic buyers, with no substantive risk of board rejection.

The practical implication: foreign-buyer apartment searches in Manhattan are, with limited exceptions, condominium-inventory searches. Within the condominium inventory, additional building categories — the new-construction supertall and luxury-condominium inventory, the established luxury condominiums, and the broader Manhattan condominium market — provide the accessible buyer-friendly inventory map that the structurally cooperative-dominated Manhattan residential market makes necessary for foreign buyers. (Our Pied-à-Terre-Friendly Buildings guide covers the building categories in detail; the pied-à-terre framing substantially overlaps with the foreign-buyer framing.)

Holding structures: LLC, foreign corporation, and trust ownership

The holding-structure question — how the foreign buyer takes title to the apartment — is among the most consequential structural decisions in the transaction, and it must be resolved before the contract is signed. The most-common holding structures for foreign-buyer transactions in Manhattan are:

Direct ownership as an individual

The simplest holding structure: the foreign buyer takes title in the buyer's individual name. This structure minimizes formation and ongoing-administration cost, supports the cleanest closing process, and presents the simplest US tax-filing requirements going forward.

The trade-offs are substantial. Direct individual ownership exposes the buyer to US estate tax on the buyer's death (with the $60,000 exemption for non-US-domiciliary owners producing potentially severe estate-tax consequences on residential real estate held in individual name); to FIRPTA withholding at sale (with the procedural withholding administered through the buyer in any subsequent sale); to the disclosure obligations of FinCEN's beneficial-ownership rules and the broader US anti-money-laundering compliance regime; and to the gift-tax implications of any subsequent transfer to family members or trust beneficiaries.

Direct individual ownership is most often appropriate for foreign buyers whose holding period is anticipated to be relatively short, whose home-country tax-and-estate planning does not require US-entity structuring, and whose total US asset exposure is modest enough that the estate-tax planning friction does not justify entity formation costs.

Single-purpose US LLC

The most-common holding structure for substantial foreign-buyer Manhattan transactions: a single-purpose US limited liability company formed in Delaware or New York, with the foreign buyer (or the buyer's preferred holding entity) as the sole member.

The US LLC structure provides several substantive benefits: liability protection (the LLC's assets are legally separated from the foreign buyer's other holdings); flexibility in the eventual disposition (the LLC can be transferred as an entity rather than as a real-estate asset, potentially structuring around certain closing costs); coordination with US estate-planning structures (the LLC can serve as the holding vehicle for trust ownership, gift-and-estate structuring, and multi-generational transfer planning); and accommodation by the great majority of Manhattan condominiums (which routinely accept LLC ownership).

The LLC structure imposes formation and ongoing administration costs (state-level annual filings, federal tax filings if the LLC has US-source income, the registered-agent and book-keeping infrastructure). The LLC's tax treatment defaults to disregarded-entity status for federal purposes (the LLC's income and deductions flow through to the member's individual return); election of corporate treatment is available but rarely advantageous for residential real estate.

LLC ownership at Manhattan cooperatives is rare and generally not permitted. Buyers planning LLC ownership are, by structural necessity, looking at condominiums.

Foreign corporation or multi-jurisdictional holding structure

For foreign buyers whose home-country wealth-management structure includes existing foreign corporations, trusts, or multi-jurisdictional holding vehicles, the apartment may be acquired through one of these existing structures rather than through a new US-formed entity.

The structural considerations are complex. Foreign-corporation ownership of US real estate carries specific tax consequences (the foreign corporation is treated as engaged in a US trade or business, with branch-profits-tax implications); multi-jurisdictional structures must be calibrated against the US-corporation rules, the home-country tax treatment, and the applicable tax-treaty provisions. Some foreign-corporation structures support estate-tax planning that direct individual ownership or US-LLC ownership cannot, but the planning is substantially complex and requires coordination between US tax counsel and the buyer's home-country wealth-management team.

The foreign-corporation structure is most often appropriate for substantial foreign-buyer transactions where the buyer's existing home-country wealth-management infrastructure is integrated with the apartment acquisition and where the holding-period and disposition-planning horizon supports the additional structural complexity.

Trust ownership

US-formed trusts (grantor trusts, irrevocable trusts, dynasty trusts) and foreign-formed trusts can each hold Manhattan real estate, with substantially different tax consequences depending on the trust's structure, governing law, and the trustees' identity.

US-formed grantor trusts — where the foreign buyer is treated as the grantor and the trust's income is taxed to the grantor — provide certain estate-planning benefits while preserving the income-tax simplicity of direct individual ownership. Irrevocable trusts can support multi-generational transfer planning but require careful structuring against the US gift-tax rules. Foreign-formed trusts impose additional reporting requirements (FATCA, foreign-trust disclosure) and may face less favorable US tax treatment than US-formed equivalents.

Trust ownership at Manhattan condominiums is generally accommodated. Trust ownership at Manhattan cooperatives is permitted at some buildings under narrowly defined conditions and is the subject of substantive board review where permitted; our Trust Purchasing in Manhattan guide covers the cooperative trust-ownership considerations in detail.

FIRPTA: the foreign-seller withholding tax

The Foreign Investment in Real Property Tax Act of 1980 — universally known as FIRPTA — imposes substantial withholding obligations on the sale of US real property by foreign sellers. The current statutory withholding rate is 15 percent of the gross sales price (with reduced rates available under certain circumstances), administered through the buyer in the eventual sale transaction.

FIRPTA is not a buyer-side closing cost on the foreign buyer's original acquisition. It is a tax that applies to the foreign owner's eventual sale of the apartment, withheld by the eventual buyer and remitted to the IRS. The withholding is a deposit against the foreign seller's actual US capital-gains-tax liability on the disposition; if the actual tax is less than the withheld amount, the difference is refunded after the foreign seller files a US tax return reflecting the sale.

The structural implication for the foreign buyer is that FIRPTA's withholding mechanic will apply to the foreign buyer's eventual disposition of the apartment, and the foreign buyer must plan for the cash-flow and tax-administration consequences. A foreign buyer selling a $10 million apartment will face $1.5 million in FIRPTA withholding administered by the eventual buyer (subject to certain reduced-rate eligibility); the cash will be withheld at closing and subsequently reconciled through the US tax-filing process.

The foreign buyer's holding structure substantially affects FIRPTA treatment. Direct individual ownership is subject to full FIRPTA withholding on disposition. US-LLC ownership flows through to the foreign member; the LLC's sale is treated as the member's sale for FIRPTA purposes. Foreign-corporation ownership and multi-jurisdictional structures present different FIRPTA implications that should be planned with US tax counsel before the acquisition.

The structural lesson: FIRPTA planning is part of the original acquisition planning, not a problem to address at eventual disposition.

US estate tax: the $60,000 exemption and the treaty modifications

US estate tax applies to the worldwide estate of US citizens and US-domiciliary residents at substantial threshold levels (currently $13.99 million per individual, with marital deductibility for US-spouse transfers, subject to scheduled sunset and continuing legislative change). For non-US-domiciliary individuals — including the great majority of foreign-buyer Manhattan apartment owners — the estate-tax treatment is substantially less favorable.

The default rule: the non-US-domiciliary's US-situated assets are subject to US estate tax on the owner's death, with an estate-tax exemption of only $60,000 (compared to the $13.99 million applied to US persons). The applicable estate-tax rates are graduated, with the top rate reaching 40 percent on substantial estates. For a foreign buyer holding a $10 million Manhattan apartment in individual name, the death of the foreign buyer would expose the apartment to US estate tax at approximately $4 million on the residual value above the $60,000 exemption — a structural consequence of substantial magnitude.

The estate-tax exposure is modified by US tax treaties with a number of countries. The US has estate-tax treaties with the United Kingdom, Germany, France, the Netherlands, Belgium, Greece, Italy, Norway, Finland, Switzerland, Sweden, Austria, Denmark, Ireland, Japan, and several other jurisdictions. Each treaty's specific provisions vary; some provide a pro-rata application of the US estate-tax exemption to the non-US-domiciliary's US-situated assets, others provide alternative allocation rules, others apply different definitions of US-situated assets. The applicable treaty's specific provisions should be reviewed with US tax counsel against the foreign buyer's specific situation.

Estate-tax planning is therefore one of the principal drivers of the foreign-buyer holding-structure decision. Direct individual ownership of US real estate by a foreign buyer with no treaty protection produces severe estate-tax consequences on the foreign buyer's death; holding through a US LLC, foreign corporation, trust, or multi-jurisdictional structure can substantially reduce or eliminate the exposure, depending on the structuring approach and the buyer's specific circumstances.

The planning must occur before the acquisition. After the acquisition is closed, restructuring the holding is possible but carries its own tax consequences and complexity. The foreign buyer who acquires in individual name and subsequently attempts to transfer to a trust or entity faces gift-tax exposure, potential FIRPTA withholding on the transfer, and additional tax-administration friction. The pre-acquisition structuring decision is the high-leverage planning point.

FinCEN Geographic Targeting Orders and beneficial-ownership disclosure

The Financial Crimes Enforcement Network (FinCEN) of the US Department of the Treasury imposes specific disclosure obligations on certain residential real estate transactions through the Geographic Targeting Order (GTO) program. The GTO was first implemented in 2016 and has been renewed continuously since, with substantive coverage of the Manhattan luxury residential market.

The current GTO requires title insurance companies to identify and report the beneficial owners of legal entities (LLCs, partnerships, corporations) acquiring residential real estate in covered jurisdictions, when the acquisition is funded in whole or in part by cash (without bank financing) and the purchase price exceeds the applicable threshold ($300,000 in Manhattan as of the relevant orders).

The disclosure obligation applies to the title insurance company; the reporting includes information about the beneficial owners (individuals owning 25 percent or more of the acquiring entity) and the source of funds. The disclosure is made to FinCEN as part of the title insurance company's compliance with the GTO; the disclosed information is held in FinCEN's database and is accessible to law enforcement under standard regulatory procedures.

The practical implication for the foreign buyer acquiring through a legal entity, paying cash for a Manhattan condominium above the threshold: the title insurance company will require beneficial-ownership disclosure. The foreign buyer should expect to provide identification documents for the beneficial owners (passport or comparable government-issued identification), information about the source of funds, and documentation supporting the holding-entity structure.

The disclosure is not a tax assessment, a transaction restriction, or a substantive limitation on the buyer's ability to acquire. It is a compliance requirement that the title insurance company administers. Foreign buyers should plan for the disclosure as part of the closing process and should coordinate with the buyer's transactional attorney and the title insurance company to ensure the disclosure is prepared accurately and on schedule.

The broader US anti-money-laundering compliance framework — the Bank Secrecy Act, the Patriot Act, the Customer Identification Program (CIP) requirements applied by US banks, and the suspicious activity reporting obligations — applies to the broader financial-services context within which the foreign-buyer transaction occurs. The buyer's wire-structuring, account-opening, and financial-institution interactions are all subject to the framework, and the buyer should expect substantive identification documentation and source-of-funds documentation at each interaction with a US financial institution.

Financing access for foreign buyers

The financing market for foreign-buyer Manhattan condominium purchases is meaningfully narrower than the equivalent domestic market but substantively available for qualified buyers. The principal lenders in the foreign-buyer financing market are portfolio lenders — banks that hold mortgages on their own balance sheets rather than selling them into the secondary market — and certain international banks with US operations that have institutionalized foreign-buyer lending programs.

Foreign-buyer financing typically requires substantially larger down payments than domestic-buyer financing (often 35 to 50 percent down, compared to the 20 to 30 percent typical of domestic luxury condominium financing), substantially more comprehensive documentation (foreign tax returns, foreign bank statements, foreign employment verification, all translated to English and verified through the lender's compliance process), and a longer underwriting timeline (often 90 days or more, compared to the 30 to 60 days typical of domestic financing).

The lender's underwriting will focus on the buyer's verified income (with substantive analysis of foreign-currency income, foreign-employer documentation, and foreign-source tax returns), the buyer's verified assets (with similar substantive verification of foreign-domiciled holdings), the buyer's credit profile (with the absence of US credit history typically addressed through alternative documentation), and the building's qualification (since the lender's collateral position depends on the underlying condominium's financial and operational profile).

Interest rates on foreign-buyer mortgages are typically slightly higher than the equivalent domestic-buyer rates, reflecting the lender's additional underwriting effort and the broader risk profile. The rate differential is meaningful but not transaction-defining for most foreign buyers.

Many foreign buyers opt to acquire all-cash rather than financing, particularly at price tiers where the buyer's available capital supports an all-cash transaction. All-cash transactions avoid the financing-underwriting friction, the mortgage recording tax (covered in our Closing Costs guide), and the longer underwriting timeline. The trade-off is the capital deployment; for buyers prioritizing financial leverage or capital efficiency, the foreign-buyer financing path is available but requires the substantive lender engagement noted above.

Wire transfer and source-of-funds documentation

The wire-transfer and source-of-funds documentation requirements for foreign-buyer Manhattan transactions are substantively detailed and require advance planning.

The buyer's funds for the down payment, closing costs, and any all-cash purchase amount must arrive at the closing in US dollars in the buyer's US-domiciled escrow account (typically the buyer's attorney's escrow account or the title insurance company's escrow account). Wires from foreign jurisdictions are subject to the US-bank Customer Identification Program (CIP) compliance, may require advance pre-clearance through the buyer's US-domiciled bank, and should be initiated with enough lead time to accommodate any compliance review.

Source-of-funds documentation should be assembled before the wire is initiated. Documentation typically required includes: bank statements from the foreign-domiciled source account showing the funds; transaction documentation supporting the source of the funds (employment income, business income, asset sale, inheritance, gift, investment proceeds); supporting documentation for any intermediary accounts in the wire path; and the buyer's identification documentation.

The Foreign Investment Treaty Act, FATCA, and the broader US foreign-asset disclosure framework imposes additional reporting obligations on US banks receiving foreign wires. Wires above certain thresholds may trigger automatic reporting to FinCEN as Currency Transaction Reports (CTRs) or Suspicious Activity Reports (SARs); the buyer should expect this to occur and should ensure that the source-of-funds documentation is prepared to support any subsequent inquiry.

Foreign buyers planning to wire substantial sums into their US-domiciled accounts in advance of the apartment search are generally well-advised to coordinate with US-domiciled banks specializing in foreign-buyer relationships, to establish the receiving account in advance, and to plan the wire structure with the buyer's US tax counsel and the receiving bank's relationship manager.

US tax filing requirements and the ITIN

Foreign owners of US real estate are subject to US tax filing obligations on US-source income (rental income, gain on sale, certain other items) and may be required to obtain an Individual Taxpayer Identification Number (ITIN) for tax-filing purposes.

The ITIN is issued by the IRS to individuals who are required to file a US tax return but who do not qualify for a US Social Security Number (SSN). Foreign buyers acquiring Manhattan real estate will generally need an ITIN if they (a) rent the apartment to a tenant, generating US-source rental income; (b) sell the apartment, triggering FIRPTA withholding and the requirement to file a US tax return to reconcile the withholding; or (c) make a tax election (such as the "net election" for rental income) that requires an ITIN.

ITIN applications are submitted on IRS Form W-7 with supporting identification documentation. The application can be processed through IRS Acceptance Agents (typically US accounting firms or law firms qualified for ITIN application processing), through US embassies and consulates, or directly with the IRS in certain circumstances. ITIN processing timelines have historically run several weeks to several months; foreign buyers planning to acquire and rent the apartment, or planning to dispose of the apartment in the near term, should initiate the ITIN application early in the transaction process.

US tax returns for foreign owners of US real estate are filed on Form 1040-NR (for non-resident aliens). The return reports US-source income subject to US tax, claims any applicable treaty benefits, and reconciles any FIRPTA or backup withholding. Foreign buyers should engage qualified US tax counsel for the annual filing obligation and for any planning around the apartment's rental, sale, or restructuring.

Property management for non-resident owners

Foreign buyers whose apartment will be occupied less than full-time — most foreign-buyer pied-à-terre purchases — should plan for the ongoing property-management infrastructure that absentee ownership requires.

The building's managing agent provides the basic operational interface (maintenance billing, building communications, regulatory notices, condominium board communications) but does not provide apartment-level property management. The foreign owner needs separate property-management infrastructure for: regular apartment-level inspections during non-occupancy; coordination of routine maintenance, repairs, and improvements; coordination of housekeeping, deliveries, and apartment-level service providers; coordination with the building staff for package handling, contractor access, and emergency response; and (where applicable) coordination of any rental occupancy under the building's permitted rental policies.

Manhattan's property-management ecosystem includes a number of specialized firms calibrated to the absentee-owner market. The fees typically run 5 to 12 percent of the apartment's all-in operating costs annually, with substantial variation by building, apartment size, and service intensity. The Roebling Team works with several established firms and can coordinate the recommendation against the buyer's specific needs.

Visa and immigration considerations

A common foreign-buyer question: does the purchase of US real estate confer visa, residency, or immigration rights? The answer is no. The purchase of US residential real estate is not, in itself, a basis for US immigration eligibility. Foreign nationals may own US real estate without US immigration status, and US immigration status (visa, green card, citizenship) is not required to own US real estate.

The relationship between real estate ownership and US immigration is, however, indirect and substantial. The EB-5 Immigrant Investor Program — under which foreign nationals may obtain US permanent residence through qualifying investments in US enterprises that create or preserve US jobs — has been used by some foreign nationals to coordinate US real estate investment with US immigration planning. EB-5 has its own substantial structural requirements (minimum investment thresholds, job-creation requirements, geographic-targeted investment program parameters) that are independent of the Manhattan residential real estate transaction; EB-5 considerations should be coordinated with US immigration counsel separately from the apartment-acquisition planning.

Foreign nationals on US visas (E-2, E-3, L-1, O-1, etc.) may acquire and hold US real estate as part of their normal US business and personal activities. The real estate ownership does not affect the visa status.

The structural lesson: real estate ownership and immigration planning are separate questions and should be planned through separate counsel. The Roebling Team coordinates with US immigration counsel where applicable but does not advise on US immigration matters directly.

How the Roebling Team approaches foreign-buyer transactions

The Roebling Team's engagement with foreign buyers begins with the structural framing covered in this guide — the cooperative-vs-condominium distinction, the holding-structure question, the FIRPTA and estate-tax planning coordination with the buyer's US and home-country tax counsel, the FinCEN disclosure obligations, the financing access if applicable, and the property-management planning for non-resident occupancy. The apartment search is calibrated against this structural framing rather than against the buyer's initial neighborhood or building preference.

The substantive pre-search work covers: (1) coordination with the buyer's US tax counsel on holding-structure formation and federal-tax planning; (2) coordination with the buyer's home-country tax and wealth-management counsel on the home-country implications of the US acquisition; (3) coordination with the buyer's US-domiciled bank on the wire structuring, account opening, and source-of-funds documentation; (4) ITIN application initiation if applicable; (5) identification of the appropriate building categories (typically condominiums) and the specific buildings that match the buyer's structural fit; (6) where the buyer is financing the purchase, coordination with the appropriate foreign-buyer-friendly lender and initiation of the pre-approval process.

The apartment search itself, once the structural framing is established, proceeds as a calibrated review of the buildings that match the buyer's structural fit, with the apartment-level evaluation focused on the inventory that actually accommodates the buyer's holding structure and use case rather than on the broader market that does not.

Considering a Manhattan purchase as a foreign national?

If you're considering a Manhattan acquisition from outside the United States and want to think through the structural framework, the holding-structure options, and the coordination required with US and home-country tax counsel, a 30-minute consultation is the right starting point. We'll work through the structural framing, the building categories worth considering, the holding-structure questions, the closing-cost economics, and the property-management planning — and orient the apartment search around the buildings where your offer will actually close.

Schedule a consultation →

Corey Cohen, Principal The Roebling Team at Compass
646.939.7375 · c.cohen@compass.com

Run the numbers

• Mansion Tax Calculator — applies to foreign-buyer purchases at the same rates as domestic-buyer purchases
• Buyer Closing Cost Calculator — full menu including mortgage recording tax on financed condominium purchases
• Seller Closing Cost Calculator — relevant for FIRPTA disposition planning

Related guides

• Co-op vs Condo in Manhattan — the structural ownership distinction that determines foreign-buyer building accessibility
• Pied-à-Terre-Friendly Buildings in Manhattan — the building categories that accommodate non-primary-residence use, substantially overlapping with foreign-buyer-accessible inventory
• Closing Costs in NYC — the full closing-cost menu including the items specifically relevant to foreign-buyer transactions
• Trust Purchasing in Manhattan — for buyers using trust structures, which are common in foreign-buyer transactions
• The Pied-à-Terre Buying Process in Manhattan — the transactional process guide for non-primary-residence purchases

---

This page reflects publicly available information on US federal tax law, New York City and State residential real estate practice, the Financial Crimes Enforcement Network (FinCEN) Geographic Targeting Order program, and The Roebling Team transaction experience. The Roebling Team at Compass does not provide US legal, tax, or immigration advice; foreign buyers must consult their own US attorney, US tax counsel, US immigration counsel where applicable, and home-country tax and wealth-management counsel regarding the specific implications of any acquisition. US federal tax law — particularly the rules governing FIRPTA, estate tax, gift tax, and the treatment of foreign-owned entities — is subject to substantial change and should be reviewed with current US tax counsel at the time of any transaction. US tax treaty provisions vary by country and by treaty; specific treaty application should be confirmed with US tax counsel. Building policies on financing, subletting, foreign-buyer accessibility, and entity ownership vary by building and should be confirmed against the offering plan and current board policies during due diligence. © 2026 The Roebling Team at Compass.