Is it possible to get an apt in the U.S if you live in another country? Family lives in UAE husband makes a good living there.

Asked by Joe, New York, NY Sat Sep 21, 2013

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11
Ella Chavers, Agent, New York, NY
Mon Oct 7, 2013
Dito the short answer is yes. buying real estate in New York City is very different than the rest of America. Buying for a foreigner has to have the correct structure. Unsually buyers contact lawyers when they have found a property that they would like to purchase as a foreigner this process is reversed. You need to speak to a lawyer who specializes in these transactions before looking at properties. I have a list that I can share with you. Contact me at echavers@elliman.com.

Good luck with your search.
0 votes
Elena Ravich,…, Agent, New York, NY
Sun Oct 6, 2013
Are you looking to buy or rent. Depending on what you are looking to do, requirements will be different. Many international investors are buying in New York to diversify their portfolio and take advantage of one of the strongest real estate markets in the World. I am including a link to an article by a well know appraisal firm, Miller Samule on Luxury Real Estate becoming a new international currency http://www.millersamuel.com/files/2012/10/DEnewcurrency.pdf

Would be happy to assist you in NYC
Elena Ravich
646 593 7207
elena@rakitarealty.com
0 votes
Michal Arvatz, , New York, NY
Sun Oct 6, 2013
Dear Joe,

In short the answer is yes, you can buy and rent if you live elsewhere.

The details vary from property to property, however in general you need to know that buying or renting in NYC works quite different then it does in the UAE or in Europa, in general if your looking to buy or rent here's what you need to know:

Buy- buying in NYC an apartment as investment your looking at an average return of approximately 3% it maybe higher or lower depending on the property. Additionally the NY real estate market is one of the strongest in the world so it is likely that the value of your property will increase as well.
As mentioned bellow you should be looking at condominium only. In most cases you will be able to sublet your apartment for 12 months at the time. Some building will even allow shorter sublet starting with 1 month.

Co-op will not work for your situation.

Rent- if you are looking to rent for 12 months, larger owners will likely ask for a New York State guarantor or higher security deposit or some may take Insurant, it's an insurance company that you can buy a policy from for a fee. They will guaranty the owner will get his rent for the term of your lease in case you default.

On the other hand smaller or private owners may be more flexible and may agree to take 3-12 months rent in advance.

My clients include foreign investors of which for some I am also the property manager.

Feel free to contact me with any questions you may have.

Michelle (Michal) Arvatz
Licensed Real Estate Sales Person
REBNY Member
Property Manager
Sales, Rentals and Short Term (Relocation) Furnished Rentals
Charles Rutenberg Realty, LLC
MA.daya.NYC@gmail.com
+1.917.701.7082
0 votes
Robert Krava…, Agent, New York, NY
Sat Oct 5, 2013
Yes. Check for details on my blog, http://www.BlogOfNY.com
0 votes
Ella Chavers, Agent, New York, NY
Sat Sep 21, 2013
Yes you can, however I strongly recommend using an attorney who specializes in these transactions before your start to look at properties. These attorneys will help you establish the base necessary to have in place to buy real estate in the USA. If you're looking at buying in the New York City area, please do hesitate to contact me at: echavers@elliman.com.

Good luck
0 votes
Masha Sales, Agent, NY,
Sat Sep 21, 2013
Absolutely,
I specialize in foreign purchasers, will be happy to help.
If you are looking to finance your purchase, I will connect you with mortgage brokers who can help, most likely you would have to put 50% down.
Please email or call me and we can go over purchasing process and I will forward you appropriate listings.
Looking forward working with you!
Masha
Masha Sales
Citi Habitats
37 Third Avenue NYC NY 10003
Mobile 917.658.3667 | Direct 646.398.6108 | EFax 917.262.7375
masha@citihabitats.com
0 votes
Michelle Wei…, Agent, New York, NY
Sat Sep 21, 2013
Hi Joe
We have many international buyers and renters in NYC. For purchase you will mostly be limited to condominiums. For renting there are many options for you. You may have to use a guarantor or a company such as Insurant or as others here have suggested you may need to pay the rent upfront or give a larger security deposit. It depends on the requirments each building has. I will be happy to help you find your New York home.
Michelle Weissman
Licensed Real Estate Salesperson
Member of The Real Estate Board of New York
Corcoran Group
Michelle.Weissman@Corcoran.com
0 votes
Nataly Roths…, Agent, New York, NY
Sat Sep 21, 2013
Hi Joe,

It is absolut possible to get an apartment in NYC. Are you looking for a rental apartment or to buy a pied-a-terre? We are specialized in international clients and would be happy to help you understand the market.

If you like we can send you our guide for international clients which contains a lot of helpful information.

Best wishes,
Nataly

Nataly D. Rothschild
Rothschild Realty Associates, LLC
nataly@rothschildra.com
0 votes
I am trying to get her a 1 bedroom apt for rent between 165th street and 178th street in the Washington Heights NYC area for a price between $1200 to $1600 a month. She will need the apt for the beginning of November. Can you help, if so what is your fee?
Flag Sat Sep 21, 2013
Tatyana Shes…, Agent, New York, NY
Sat Sep 21, 2013
Are you buying or renting? Both are possible. You are better off with a big real estate agency like Citi Habitats.
I can give all proper recommendations including financing and documentation.
Tatyana Shestakova,
Citi Habitats, 917-519-4664
0 votes
Nick Agostin…, Agent, New York, NY
Sat Sep 21, 2013
Joe,

Do you have U.S. credit history? Depending on the building, they might want a larger security deposit or pay more of the rent up front. Every situation is different and every landlord is different.

I would love to help out. Please let me know if I can be of any assistance.

Nick Agostinelli
Licensed Real Estate Salesperson
Elegran Real Estate & Development
353 Lexington Avenue | Fifth Floor | NYC
Email: Nagostinelli@elegran.com
Office: (212) 729-5712 ext. 144
0 votes
Jennifer Chi…, Agent, New York, NY
Sat Sep 21, 2013
Yes, if you have US credit history or are willing to pay 1 year up front of rent or 6 months security; whichever the landlord requires.
0 votes
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