Updated May 2026 by Corey Cohen, Roebling Team TL;DR If you're a non-U.S. buyer purchasing a Manhattan apartment, three rules cover 90% of the decision: Buy a condo, not a co-op. Most Manhattan co-ops will reject you. Condos almost universally accept foreign buyers with a clean financial package. 2. Structure the purchase carefully. The choice between buying in your personal name, an LLC, or a trust has significant implications for U.S. tax exposure — especially U.S. estate t

Rough rule for a Manhattan co-op: your gross household income needs to be roughly 3 to 4x the all-in annual housing cost (mortgage P&I + maintenance) to clear most boards. For a typical $1.5M co-op with 25% down at current rates, that's roughly $300K to $375K of household income. Condos use the lender's debt-to-income standard, which is more permissive — closer to 2.5 to 3x housing cost — so the same apartment might be financeable at $225K to $275K of income. Boards also want

A "sponsor unit" is an apartment owned by the original developer (or a successor sponsor) that has never been sold to an individual owner. They show up in both co-op and condo buildings, and they come with one big upside — typically no board approval — and one big downside — buyer often pays the transfer taxes the seller would normally cover. Whether a sponsor unit is a good deal depends on three numbers: the price, the closing-cost shift, and how the unit's condition compare

421-a is a NYC property tax abatement designed to incentivize new residential construction. For buyers, it's a meaningful benefit — but only for as long as it lasts, which is usually 10, 15, 20, or 25 years from when the building was completed. When 421-a phases out and expires, the building's property tax bill jumps to the full unabated amount, often 3 to 5x what owners had been paying. If you're buying a new condo, you need to know two numbers: how much the abatement is cur

Buying a Manhattan apartment costs about 2 to 3% of the purchase price in closing costs if you're buying a co-op, and 3 to 6% if you're buying a condo with a mortgage. The biggest line items: NYC and NY State transfer tax (sellers usually pay, but watch out on new development), mortgage recording tax (only on condos), title insurance (only on condos), the mansion tax (kicks in at $1M and up), and your attorney. Below is the full breakdown with worked examples at $1M, $1.5M, a

In Manhattan, roughly three out of four apartments for sale are co-ops, and the rest are condos. Co-ops are usually 10 to 40% cheaper for the same square footage, but they come with a board approval process, stricter financial requirements, and tighter rules about subletting. Condos cost more, charge higher closing costs and property taxes, but you can close in weeks instead of months and rent out your unit with far fewer restrictions. If you're paying with cash and plan to l

Two competing visions are shaping New York’s future. On one side, the business community - anchored by JPMorgan Chase, major law firms, global tech firms, and a surge of AI startups - is doubling down on Manhattan. On the other, Mayor-elect Zohran Mamdani proposes an aggressive affordability agenda: rent freezes, fare-free buses, and higher corporate and high-earner taxes. The tension between these forces will determine how the city grows, who it attracts, and how its real es

Across Manhattan’s most coveted corridors—from Central Park West to Billionaires’ Row—a quiet recalibration is underway. Between July 2024 and July 2025, nearly one in three condominium resales traded below their previous purchase price, marking a decade-long repricing of luxury. Eight notable addresses reveal how today’s market is rewriting assumptions about appreciation.

Manhattan’s luxury residential market continued its upward momentum in Q3 2025, driven by cash buyers and a select group of high-profile developments. Projects like the Flatiron Building conversion, 800 Fifth Avenue, and 80 Clarkson Street are redefining design and exclusivity, even as new construction slows across the city.

In NYC real estate, a view isn’t just scenery — it’s a key driver of value. From Central Park’s enduring premiums to the unpredictability of river vistas, buyers need to understand what truly lasts. This article explores how views shape pricing, lifestyle, and long-term investment potential.

Deciding between a co-op or suburban house in 2030? Discover the pros and cons of NYC co-op living versus suburban homes. Explore now!

Luxury co-ops and condos in NYC are facing rising costs and stricter regulations in 2025. Local Law 97 fines are now in effect, operating expenses are climbing, and banks are tightening lending standards. Buyers and sellers alike need to navigate compliance requirements, reserve levels, and transparency to protect value in today’s market.

The FARE Act just rewrote NYC’s rental playbook. Tenants no longer pay broker fees when the landlord hires the broker — a major shift that slashes upfront costs. But with rising rents and shifting strategies behind the scenes, the real impact is just starting to unfold. Here's what renters, landlords, and brokers need to know.

"Luxury doesn’t always mean perfection—even in NYC’s most elite condos. From 432 Park Avenue’s hidden facade cracks to the Seaport’s leaning tower, high-end condo building flaws in New York are costing buyers millions. Learn how construction defects, plumbing failures, and developer oversights plague prestigious towers—and the critical due diligence steps to protect your investment.

Discover the secrets of a successful sale in real estate. Learn how strategic marketing and expert negotiation led to a standout sale.

Navigate 2025’s real estate shifts: higher rates, SALT cap buzz, soaring costs, and new rules.

Discover how the City of Yes is transforming urban living. Learn about the City of Yes initiatives and their impact on communities.

Trump’s proposed SALT cap repeal could boost luxury real estate markets, benefiting affluent buyers with increased purchasing power.

Understanding Closing Costs When Purchasing a New York City Apartment: Condominiums vs. Cooperatives

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