International Buyers
New York Condos & the Foreign Buyer
A New York condominium is a compelling acquisition for international buyers — whether as aN InVESTMENT RENTAL property, a pied-à-terre, a residence for a student OR FAMILY MEMBER.
eSCHEWAL REPRESENTS OVERsEAS BUYERS OF NEW DEVELOPMENT CONDOMINIUMS, HELPING IDENTIFY AND COMPARE PROPERTIES, EVALUATE PRICING, NEGOTIATE PRICE AND NAVIGATE THE PROCESS FROM SEARCH TO CLOSING. WITH HIS LEGAL AND REAL ESTATE BACKGROUND, eD PROVIDES EXPERIENCED, INDEPENDENT GUIDANCE THROUGH A TRANSACTION process THAT CAN BE UNFAMILIAR TO BUYERS OUTSIDE THE UNITED STATES.
Where the Complexity Lives
How You Hold Title
This is one of the most consequential decisions a foreign buyer makes. Owning in your individual name, through an LLC, a foreign corporation, or a trust each carries dramatically different income, estate, and gift tax consequences. Getting this wrong is expensive and often impossible to unwind cleanly.
Student & Personal-Use Occupancy
Foreign buyers placing a child in university or using a unit seasonally face a less obvious risk: the number of days you or a family member spends in the U.S. can unexpectedly trigger U.S. resident tax status. That single shift can affect your U.S. taxes and requires advance planning, not after-the-fact correction.
Estate & Gift Tax Exposure
Unlike U.S. citizens who enjoy a multi-million dollar estate tax exemption, foreign nationals receive only a $60,000 exemption on U.S. situs property. A condo held in your own name at death can trigger estate taxes approaching 40% of its value — and without a U.S. will, the property may pass under New York intestate law rather than your own wishes.
Rental Income & U.S. Taxation
“Passive” rental income paid to a foreign owner is subject to a flat 30% withholding tax — before any deductions for expenses, repairs, or depreciation. Electing to treat the rental activity as a U.S. trade or business allows deductions that can substantially reduce the actual tax owed. The election must be made properly and at the right time.
Most individual foreign buyers are unaware of the tax traps surrounding what otherwise appears to be a straightforward investment.
Ed’s role is not to replace your tax attorney or accountant — it’s to make sure the right professionals are engaged at the right moments, that nothing falls through the cracks between them, and that you arrive at closing with a structure that reflects your actual goals. That kind of coordination, from someone who speaks the language of both law and real estate, is what foreign buyers rarely find and almost always need.
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We work with a select group of international clients. Share a few details and Ed will be in touch promptly.