NEW YORK, NY - For international investors looking to enter the New York real estate market, the range of property types available is broad and flexible. New York foreign investment lawyer Natalia A. Sishodia, of Sishodia PLLC (https://sishodia.com/what-type-of-property-can-a-foreigner-buy-in-new-york/), explains that non-U.S. citizens can purchase nearly any type of property across the city’s five boroughs. From high-rise condos in Midtown to brownstones on the Upper West Side, foreigners have access to a diverse real estate market, but the process comes with distinct challenges and requirements.
According to New York foreign investment lawyer Natalia A. Sishodia, foreign nationals can acquire property, including condominiums, co-ops, townhouses, commercial buildings, and even undeveloped land. “Federal law doesn’t prohibit non-citizens from owning real estate in the U.S.,” Sishodia states. However, she notes that specific documentation, financing criteria, and legal obligations make working with a qualified attorney essential.
New York foreign investment lawyer Natalia A. Sishodia has guided clients through complicated real estate transactions in neighborhoods such as Tribeca, SoHo, and the Financial District. Foreign buyers commonly face hurdles related to financing and ownership structure. Banks may require larger down payments, typically between 25% and 40%, and impose additional documentation requirements, especially for individuals without a U.S. credit history. “Foreign investors should prepare for higher interest rates and more intensive scrutiny by lenders,” Sishodia explains.
One of the most important decisions a foreign buyer can face is choosing between a condominium and a cooperative apartment. Condos, which offer direct ownership and fewer purchase restrictions, are generally more accessible for international buyers. “Condos are popular with foreign nationals because condo boards usually don’t require buyer approval,” says Natalia A. Sishodia. This allows international buyers to close transactions more efficiently, especially when living abroad.
On the other hand, co-ops can present significant barriers. Buyers technically purchase shares in a corporation rather than owning the unit outright, and co-op boards have the authority to reject applicants without explanation. According to Sishodia, “Co-op boards look for U.S. credit history, domestic income, and tax documentation. These strict requirements often deter international buyers.”
Ownership structure is another key consideration. Foreign nationals can buy property under their personal name or set up an LLC or trust. While personal ownership simplifies the purchase process, it exposes the buyer to liability and probate complications. LLC ownership, meanwhile, can offer legal protections and privacy, but also adds layers of administrative responsibility. “An LLC shields personal assets but comes with reporting and maintenance obligations,” says Sishodia. She also highlights the upcoming New York LLC Transparency Act, which may impose new disclosure rules starting January 1, 2026.
Trust ownership offers benefits for long-term estate planning, especially through a revocable trust, which allows the owner to maintain control during their lifetime while simplifying asset transfer to heirs. Although this approach requires an initial legal setup, it can save time and reduce stress later.
Foreign buyers must also navigate tax implications like FIRPTA, the Foreign Investment in Real Property Tax Act, which mandates withholding a portion of the purchase price if the seller is a non-U.S. citizen. The buyer is responsible for ensuring compliance, making legal guidance essential during closing.
Financing can be another challenge for foreign investors. While many New York lenders and mortgage brokers work with international clients, the process often requires thorough documentation of income, employment, and credit. Some lenders accept international credit reports, but this adds difficulty and time to the approval process. “Buyers should plan early and understand that foreign national mortgage programs differ in terms and conditions,” Sishodia advises.
Beyond financing, foreign investors must consider property types carefully. Strict co-ops near Central Park may not welcome buyers without a strong U.S. financial presence. In contrast, newer condo developments in areas like Hudson Yards often target international purchasers and offer streamlined processes.
Natalia A. Sishodia emphasizes the importance of understanding both the legal and practical aspects of buying property in New York. “International buyers are welcome in New York’s real estate market, but success depends on preparation and proper guidance throughout the process,” she says.
For those considering real estate investment in Manhattan, Brooklyn, or other parts of New York City, Sishodia PLLC offers support in contract negotiations, financing coordination, FIRPTA compliance, and ownership structuring through LLCs or trusts.
Whether seeking a long-term residence, a pied-à-terre, or a high-value investment property, working with a qualified foreign investment lawyer like Natalia A. Sishodia can help avoid costly mistakes and navigate the intricacies of New York real estate law. Legal counsel is particularly vital when dealing with cooperative boards, mortgage approvals, and new compliance requirements for LLC ownership.
Sishodia PLLC has experience handling transactions involving a variety of international buyers. The firm has assisted clients with purchases in Park Slope, luxury towers in Midtown, and high-demand developments in Hudson Yards.
To ensure a smooth property acquisition, international buyers are encouraged to consult with an attorney early in the process to assess financing options, clarify ownership goals, and identify potential challenges. Early legal involvement helps streamline negotiations and reduces the risk of delays during closing.
About Sishodia PLLC:
Sishodia PLLC is a New York-based real estate law firm led by Natalia A. Sishodia. The firm advises clients on residential and commercial property transactions, including foreign investment purchases, FIRPTA compliance, ownership structuring, and title coordination. Sishodia PLLC serves buyers and investors across all five boroughs of New York City.
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