F
or international investors, the current NYC real estate market presents a strategic opportunity to deploy capital into hard assets at a discount. Despite local headlines suggesting stagnating action and rising prices, foreign buyers may see a chance to enter a historically resilient and globally respected market that is now more affordable due to the dollar's decline.

    Data from Q2 2025 shows that pricing for Manhattan and Brooklyn condos remained stable, even flirting with new highs in specific sectors. However, thanks to the dollar's sharp decline since 2022, these condos appear significantly cheaper for buyers abroad. This represents a rare alignment between local pricing stability and a material foreign exchange (FX) discount.

    The dollar's slide has created an opportunity for investors transacting in Euros, British pounds, Swiss francs, or Swedish Krona to acquire NYC real estate at discounted prices. Local buyers remain on the sidelines due to elevated mortgage rates and affordability pressures, creating a mismatch between soft sentiment and firm pricing.

    Manhattan resale condo pricing hit a new high of $1,461 per square foot in Q2 2025, while new development condos sit just below their all-time high. However, when adjusted for FX, material discounts are evident, making the opportunity visible to foreign buyers. Brooklyn offers even steeper FX discounts, especially in the new development sector.

    Condos represent the path of least resistance to the NYC real estate market for international buyers, offering fee-simple ownership, flexibility to rent or hold long-term, and no onerous board approval process. The current moment feels compelling due to contradictions between local market uncertainty and firm pricing.

    The median sales price in Manhattan rose 7.3% year-over-year to $1.572M in Q2 2025, while the average price jumped 9.2% to $2.639 million. However, real-time market signals suggest that the market cooled throughout Q2 and will likely continue to stagnate over the summer season.

    For international investors, strong market fundamentals combined with an attractive FX discount provide a tactical edge. NYC is quietly on sale, offering a strategic opportunity to deploy capital into hard assets at a discount. The math has changed for foreign buyers, making it an attractive time to enter the market.