Financing Hudson Yards Condos As A Foreign National

Buying a Hudson Yards condo from abroad can feel complex, especially when you want mortgage financing instead of paying all cash. You might be hearing different rules on down payments, reserves, and documents, and wondering what applies in Manhattan’s newest luxury towers. The good news is that financing is possible with the right lender, plan, and team. In this guide, you’ll learn how lenders evaluate foreign national borrowers, what paperwork you need, how buildings affect approvals, and the practical timeline to close with confidence. Let’s dive in.

What financing looks like in Hudson Yards

Hudson Yards is a luxury condo market with newly built, high‑amenity buildings. Condominiums are generally easier for foreign nationals to finance than co‑ops, which often require larger down payments and additional approvals. Most purchases in this area fall into the jumbo loan category, which means lenders apply more conservative standards.

Financing often comes from a mix of international or private banks with U.S. platforms, U.S. portfolio and jumbo lenders, and specialized mortgage brokers who place loans with those institutions. Terms vary by lender, property, and your profile, so you want a pre‑approval that is specific to the building you are targeting.

Lenders and loan types for foreign nationals

Who lends to foreign nationals

• International and private banks with U.S. operations that offer tailored foreign national programs.
• U.S. regional and national banks that keep jumbo loans in portfolio instead of selling to agencies.
• Mortgage brokers that specialize in foreign national and jumbo lending.
• Private or asset‑based lenders and family offices for ultra‑high‑net‑worth buyers.

Typical loan terms and ranges

• LTV: Condos commonly fall in the 50 to 70 percent range for foreign nationals, with 60 to 65 percent often seen on high‑end NYC condos. Expect lower LTV if you have limited U.S. credit or if the building is newly completed.
• Pricing: Lenders usually apply a premium compared with similarly qualified U.S. borrowers, and some pricing is tied to private banking relationships.
• Debt service: Lenders consider debt‑to‑income, though many focus more on overall asset strength and liquidity for high‑income or UHNW clients.
• Reserves: Plan for 12 to 24 months of payments, common charges, and property taxes in liquid reserves for luxury Manhattan condos. Some lenders accept 6 to 12 months, but conservative programs ask for more.
• Terms: 30‑year and 15‑year amortizations are common, and some portfolio lenders offer tailored structures.

Appraisals and building eligibility

Expect a full appraisal, and sometimes a second review for very high‑value or brand‑new condos. Lenders also evaluate the building itself. For new developments or where a sponsor still owns many units, lenders may lower LTV or require more reserves. Get pre‑approval that explicitly confirms your target building is eligible before you sign.

Building policies that affect approval

New development and sponsor exposure

If a sponsor still owns a large percentage of units, some lenders will not finance or will require stricter terms. Ask your lender to review the current sell‑out status and sponsor exposure.

Owner occupancy and investor concentration

Lenders prefer healthy owner‑occupancy and limited single‑owner control. Buildings with heavy short‑term rental activity or a high share of investors can reduce lender appetite or worsen pricing.

Reserves, budgets, and insurance

Lenders review the condo’s financials, master insurance, and budget. Weak reserves, major upcoming capital projects, or unusual restrictions in the condo documents can lead to lower LTV or a decline. Your team should provide the offering plan, bylaws, and insurance details early.

Documentation and compliance checklist

Identity and tax identification

You will need a passport and, if applicable, a current visa. If you do not have a Social Security Number, plan to obtain or apply for an ITIN for tax reporting and lender documentation.

Income, assets, and reserves

Lenders usually request two years of tax returns if available, employment letters, and account statements showing income and liquid assets. Business owners may need audited financials. Expect requests for 3 to 12 months of bank and investment statements and proof that reserves are seasoned.

Source of funds and AML standards

Anti‑money‑laundering and sanctions screening are standard. Be ready to document the origin of your down payment and reserves with sale agreements, escrow statements, dividend records, corporate distributions, inheritance documentation, and related bank statements. Notarized translations or apostilles are often required for foreign documents.

Entity purchases

If you buy through a foreign entity or SPV, the lender will request formation documents, operating agreements, corporate resolutions, and full beneficial ownership details. Personal guarantees are common. Confirm the structure with your attorney and lender before you sign.

Practical document list

• Passport and visa documentation
• SSN or ITIN, or proof of ITIN application
• 3 to 12 months of bank and investment statements
• Two years of tax returns, and audited financials for business owners
• Employer letter and proof of income
• Proof of down payment source and seasoning
• Entity formation documents and beneficial ownership details if applicable
• Purchase contract, condo offering plan, budget, and master insurance
• Lender confirmation that the specific building is eligible

Taxes, fees, and currency planning

State and local costs in New York

Budget for New York State and City closing costs. The NYS mansion tax typically applies to purchases of 1,000,000 dollars or more. You should also plan for title insurance, recording fees, transfer taxes, attorney fees, and lender charges. Confirm current rates with your New York real estate attorney or title company.

FIRPTA and future sale

FIRPTA withholding applies when a foreign person sells U.S. real property, and buyers can have withholding obligations if the seller is foreign. When you buy, confirm your obligations if your seller is a foreign person. Engage tax counsel early so there are no surprises at closing.

Rental income and ongoing filings

If you plan to rent your condo, you may need to file U.S., New York State, and New York City tax returns. Nonresident owners often face withholding on gross rent unless they elect to treat income as effectively connected and pay tax on net income. Cross‑border advisors can coordinate U.S. and treaty considerations.

Currency transfers and FX risk

Large international wires take planning. Notify your banks ahead of time, understand transfer limits, and allow for AML reviews. If your income is not in U.S. dollars, consider FX hedging, such as forwards or options, or borrowing in USD if available to match your asset and liability currency.

Step‑by‑step roadmap

1) Build your team

• Hire a New York City real estate attorney experienced with foreign national purchases.
• Engage a mortgage broker or private bank that regularly finances foreign national buyers.
• Retain a cross‑border tax advisor for ITIN, filing, treaty, and FIRPTA questions.

2) Secure building‑specific pre‑approval

Get a pre‑approval from one or more lenders that explicitly confirm they will finance the specific Hudson Yards building and unit type you want. This helps set expectations for LTV, reserves, and timeline.

3) Prepare documents

Assemble IDs, bank statements, tax returns, employment letters, and entity documents if needed. Apply for an ITIN if your lender or tax advisor recommends it.

4) Sign contract and post deposit

Contracts in Manhattan are attorney‑driven. The deposit is often 10 percent, sent by wire. Keep full documentation of the deposit’s source for lender review.

5) Underwriting, condo review, and appraisal

Your lender will order the appraisal and review the offering plan, budget, insurance, and any building restrictions. Be prepared to respond quickly to requests for updated statements, translations, or letters.

6) Closing and after‑closing

Coordinate transfer taxes, title, and recording. If the seller is a foreign person, confirm any FIRPTA withholding with your attorney and tax advisor. Set up local banking for condo charges, taxes, and mortgage payments.

Typical timeline

• Pre‑approval: 1 to 2 weeks with complete documents
• Underwriting and appraisal: 3 to 6 weeks, longer for new developments or complex international files
• Closing: driven by contract dates and wire logistics; plan ahead to avoid delays

Smart strategies to strengthen your file

Improve terms where it counts

• Target a realistic LTV. A 35 to 40 percent down payment can broaden your lender pool and improve pricing.
• Show strong liquidity. Holding 12 to 24 months of payments, taxes, and common charges in liquid accounts builds confidence.
• Season funds and paper the trail. Keep funds in place for several months and prepare clear source‑of‑funds records.
• Confirm building eligibility early. Ask your lender to underwrite the building at pre‑approval, not after you sign.
• Align entity structure up front. If you need an SPV, coordinate lender requirements with your attorney before contract.
• Arrange banking in advance. Set up U.S. dollar accounts and wire paths early to avoid closing delays.

How we help foreign national buyers

You benefit from a coordinated plan. We introduce lenders that actively finance foreign nationals in Hudson Yards, anticipate building‑level underwriting, and prepare a clean document package that moves quickly through credit and compliance. We coordinate your attorney, lender, and tax advisor, negotiate terms, and support you through closing and post‑closing ownership, including leasing and management considerations if you plan to rent.

If you want a discreet search with strong execution in Hudson Yards, we are ready to assist and align the right team for you. Get in touch to start a tailored plan and review current building eligibility and financing options.

Ready to move forward? Get Access To Our Private Listings with Unknown Company and start your Hudson Yards financing plan today.

FAQs

Can a non‑U.S. citizen get a mortgage for Hudson Yards?

• Yes. Several U.S. and international lenders offer foreign national programs for Manhattan condos. Underwriting is more conservative than for U.S. citizens, with lower LTV and higher reserves.

How much down payment should I plan for as a foreign national?

• Many foreign national condo loans in NYC require 30 to 50 percent down. Exact terms depend on your profile, documentation, and the building’s eligibility.

What reserves do lenders require for luxury Manhattan condos?

• Expect 12 to 24 months of mortgage payments, common charges, and property taxes in liquid reserves. Some lenders accept less, but conservative programs ask for more.

Do building rules in Hudson Yards affect my loan approval?

• Yes. Lenders review sponsor exposure, owner‑occupancy, reserves, insurance, and rental policies. New developments or high sponsor ownership can reduce LTV or limit lender options.

What is FIRPTA and does it affect me as a buyer?

• FIRPTA imposes withholding when a foreign person sells U.S. real estate. As a buyer, you may have withholding obligations if your seller is a foreign person. Your attorney and tax advisor will confirm requirements.

Do I need an ITIN to buy and finance a condo?

• An ITIN is often needed for tax reporting and some lender documentation if you do not have an SSN. Your lender and tax advisor will guide whether to apply before contract or during underwriting.