You don't need to set foot in New York to buy an apartment here. Virtual tours, power of attorney closings, and the right team make it possible — but you need to know exactly how the process works before you wire a single dollar.
The United States places no restrictions on foreign nationals purchasing real estate. You don't need U.S. citizenship, a green card, a visa, or any form of residency to buy property in New York City. This makes NYC one of the most open major real estate markets in the world — more accessible than London, Singapore, Vancouver, or Sydney, all of which impose additional taxes or restrictions on foreign buyers.
More importantly, the entire purchase process can be completed remotely. Viewings happen via live video walkthroughs or simple video recordings. Contracts are negotiated and signed electronically. And closings are handled through a power of attorney, meaning your attorney signs the documents on your behalf while you're in another country entirely.
Over 60% of international transactions in NYC are completed entirely in cash, which simplifies the process further by eliminating mortgage contingencies and lender requirements. But even if you plan to finance, foreign national mortgage products are available from banks like HSBC, Citibank, and specialized international lenders.
0 Visa or ResidencyCo-ops make up roughly 70–75% of the ownership housing stock in Manhattan, but for international buyers purchasing remotely, condos are the clear winner in nearly every scenario. Here's why:
| Factor | Condo | Co-op |
|---|---|---|
| Board approval | Right of first refusal only | Full board approval + interview |
| Foreign buyer friendly | Yes — no restrictions | Rarely — most boards resist |
| U.S. tax returns required | No | Yes — usually 2–3 years |
| Subletting / rental | Generally unrestricted | Heavily restricted |
| Pied-à-terre use | Allowed | Often prohibited or surcharge |
| LLC ownership | Allowed | Rarely allowed |
| Remote closing | Standard via POA | Board may require in-person interview |
Co-op boards typically want shareholders who work in New York, have a U.S. credit history, and file U.S. tax returns. They can reject any buyer without giving a reason. For a remote international buyer, the co-op board process is a significant barrier — and the in-person interview requirement makes a fully remote purchase nearly impossible.
The exception is sponsor units in co-op buildings, which bypass the board entirely. If you have your heart set on a prewar co-op, a sponsor unit is your path in.
Technology has made remote apartment hunting in NYC remarkably effective. Here's the toolkit I use with my international clients:
This is where a great agent becomes essential. I conduct live FaceTime or WhatsApp video tours for my international clients, walking through the apartment in real time while they direct me — "Show me the view from the bedroom," "Open the closets," "How's the natural light at 3pm?" Property tours are also my bread and butter so I can always capture a video for you. What's important is that your agent is familiar enough with properties that they know what to point out, question, and dig into as they tour. This is the closest substitute for being there in person.
Understanding the neighborhood is just as important as the apartment itself because you don't have the chance to know how it feels when you walk out the front door or even how the neighborhood might change one block from your building. For popular international buyer neighborhoods, our guides to the Upper East Side, Midtown, and Midtown West cover everything you'd want to know before committing.
💡 Time Zone StrategyWhen working across time zones, I schedule video tours during the apartment's best natural light window and record the walkthrough so you can review it later with family or advisors. Always request a recorded version — decisions made at 2am in your time zone are rarely the best ones.
I specialize in helping international clients purchase NYC real estate remotely. I'll guide you through every step.
Start a ConversationA remote purchase requires more trust in your team than a traditional transaction. Here's who you need and what to look for:
Every professional on your team should have specific experience working with international buyers. This is not a transaction where generalists will serve you well. The rules, timelines, and documentation requirements are different enough that inexperience creates costly delays.
While cash is the simplest path, foreign national mortgages are available and increasingly sophisticated.
| Requirement | U.S. Buyer | Foreign National |
|---|---|---|
| Down payment | 10–20% | 30–50% |
| Cash reserves | 2–6 months | 12–24 months |
| Interest rate premium | Market rate | +0.5–1.5% above market |
| Credit history | U.S. credit score | International credit references |
| Documentation | U.S. tax returns, W-2s | Passport, employment letter, bank statements, international references |
Banks that actively lend to foreign nationals in NYC include HSBC, Citibank, Bank of America (international division), and Bank Audi. Approval typically takes 45–60 days, so factor this into your timeline. Many of my clients who could pay cash still choose to finance 50–60% to preserve liquidity and leverage favorable exchange rates.
Here's exactly how a remote closing works when you're purchasing from abroad:
Your NYC attorney drafts a limited power of attorney (POA) authorizing them to sign closing documents on your behalf. This document must be notarized — and if you're outside the U.S., it must be notarized at a U.S. embassy or consulate, or by a local notary with an apostille (for countries that are parties to the Hague Convention). Allow 1–2 weeks for this step.
You wire your down payment and closing costs to your attorney's escrow account. International wire transfers to NYC attorneys are standard practice, but allow 3–5 business days for the funds to clear. Your attorney will provide wiring instructions directly — never trust wiring instructions sent via email without verbal confirmation (wire fraud targeting real estate transactions is a real and growing threat).
Your attorney reviews all closing documents, executes them using the POA, and coordinates with the seller's attorney, the title company, and the building's managing agent. You'll review everything digitally before your attorney signs.
Once the deed is recorded (condos) or shares are transferred (co-ops), the transaction is complete. Your agent can arrange key pickup and coordinate any move-in logistics on your behalf.
💡 Wire Fraud WarningNever wire funds based solely on email instructions. Always confirm wiring details by phone with your attorney using a number you've independently verified. Real estate wire fraud has increased dramatically — criminals intercept emails and substitute their own bank details. A single call can prevent a six- or seven-figure loss.
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Buying NYC real estate as a foreign national triggers several tax obligations you need to plan for — both at purchase and at eventual resale.
FIRPTA (Foreign Investment in Real Property Tax Act) is the most important tax for international owners to understand. When you sell, the buyer is required to withhold 15% of the gross sale price and remit it to the IRS. This isn't an additional tax — it's an advance payment against your capital gains liability. If your actual tax owed is less than 15%, you file for a refund. But the cash flow impact is significant: on a $2M sale, $300,000 is withheld at closing.
You can apply for a withholding certificate before closing to reduce the amount if your projected tax is lower than 15%. Your tax advisor should begin this process as soon as you decide to sell.
If you earn rental income from your NYC property, you must file a U.S. tax return reporting that income. Additionally, foreign owners of U.S. real property above certain thresholds may be subject to U.S. estate tax (up to 40%) with a much lower exemption than U.S. citizens. Proper entity structuring at the time of purchase can mitigate estate tax exposure — discuss this with your tax advisor before closing.
Yes. Virtual tours, live video walkthroughs, electronic contract signing, and power of attorney closings make it entirely possible to purchase NYC real estate without ever visiting. Many international buyers complete the entire process remotely.
No. The United States has no citizenship, visa, or residency requirements for purchasing real estate. Foreign nationals have the same property rights as U.S. citizens when it comes to buying and owning real estate in New York.
Yes. Several banks offer foreign national mortgage products in NYC, typically requiring 30–50% down payment, 12–24 months of reserves, and international credit references. However, over 60% of international transactions in NYC are all-cash.
FIRPTA requires a 15% withholding of the gross sale price when a foreign owner sells U.S. real property. It's an advance tax payment, not an additional tax. If your actual capital gains tax is less than 15%, you can file for a refund or apply for a reduced withholding certificate before closing.
In almost all cases, condos are the better choice. Co-ops require board approval, U.S. tax returns, and often an in-person interview — all significant barriers for international buyers. Condos welcome foreign buyers, allow LLC ownership, and have no subletting restrictions in most buildings.
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Whether buying or selling, I look forward to guiding you through every detail of the process.