Manhattan property, international families and the wealth that surrounds them.
From a Midtown office, ARH Global Advisors helps families, international clients, executors and trustees make Manhattan real estate decisions in the context of everything else they own: their insurance, their estate plan, their business interests and the next generation.
In Manhattan, the building often has a say.
Manhattan real estate carries a set of rules, costs and approvals that rarely apply elsewhere. A decision that would be a simple sale in most markets can involve a co-op board, a transfer tax schedule, an estate proceeding in Surrogate's Court and a foreign owner's tax position all at once.
Those details shape value, timing and who can realistically buy. They are also where real estate, estate planning, tax and insurance decisions tend to collide.
Co-ops and board approval
Most Manhattan co-ops require board approval of purchasers, and many have rules on financing, subletting and pied-à-terre use that narrow the buyer pool. Estate sales and transfers to heirs can also require board involvement.
Condominium ownership
Condos generally offer more flexibility for international buyers, investors and entity ownership, which is why ownership form often matters as much as the apartment.
Transfer and mansion taxes
New York State and New York City transfer taxes apply to many transactions, including an additional tax on residential purchases of $1 million or more. They affect net proceeds and should be modeled before pricing.
Carrying costs
Monthly maintenance, common charges, real estate taxes and assessments continue whether or not the apartment is occupied, which matters for vacant estate property and absentee owners.
New York estate tax
New York imposes its own estate tax with thresholds and rules that differ from federal law. Liquidity and ownership planning for New York property should be reviewed with qualified counsel and tax advisers.
Surrogate's Court
When an owner dies, authority to sell or transfer New York property typically runs through the Surrogate's Court or a trust. Buyers, boards and title companies will want to see it documented.
How we help in New York
Manhattan residential and investment property
Acquisitions and dispositions of co-ops, condominiums, townhouses and investment property, evaluated as part of the family balance sheet rather than as isolated transactions.
- Purchase and sale strategy, pricing and board-package preparation
- Condo versus co-op analysis for the buyer's ownership goals
- Investment property evaluation: income, carrying costs, concentration
- Hold, sell or reposition analysis for long-held family property
New York real estate broker — Keller Williams NYC, License #10301223455.
International clients
Representation and coordination for buyers and owners based outside the United States, in English and Spanish.
- Buyer representation for international purchasers
- Coordination with U.S. and home-country legal and tax counsel on ownership structure
- Planning for eventual sale, including withholding and reporting that can apply to foreign sellers
- Estate and succession considerations for U.S. property held by non-U.S. persons
Estate and trust property
Practical support for executors, trustees and beneficiaries responsible for Manhattan apartments and buildings.
- Initial assessment, security, insurance and carrying-cost review
- Market analysis and coordination of date-of-death appraisals
- Board requirements for estate sales and transfers to heirs
- Preparation, marketing, offer evaluation and closing coordination
Insurance and family wealth
Life insurance and coordination that protect a family's Manhattan property and the plan around it.
- Estate liquidity planning where property is the largest asset
- Policy review: ownership, beneficiaries and performance
- Key-person and buy-sell funding for family businesses
- Coordination with the family's attorney, CPA and investment adviser
Licensed life insurance agent in New York, California, Connecticut, New Jersey and Texas.
Owning Manhattan from abroad.
For many international families, a Manhattan apartment is a home base, an investment and a store of value at the same time. It also creates U.S. legal, tax and estate questions that the family's home-country advisers may not address.
Choose the ownership structure before closing
Individual, entity or trust ownership each carries different consequences for privacy, liability, income tax, eventual sale and U.S. estate tax. Co-ops may restrict entity ownership; condos are generally more flexible. Structure should be designed with qualified U.S. and home-country counsel.
Understand U.S. estate tax exposure
U.S. real estate owned directly by a non-resident who is not a U.S. citizen can be subject to U.S. estate tax with a far smaller exemption than U.S. citizens receive. Treaties and structuring may change the result, so this deserves early review by tax counsel.
Plan the exit at the entry
When a foreign person sells U.S. real property, federal withholding rules generally apply at closing, and state rules may add more. Knowing this in advance avoids surprises in net proceeds.
Coordinate across borders
Home-country counsel, U.S. counsel, a U.S. CPA, lenders and insurers all need to be working from the same facts. We help organize that team and keep the property decision connected to it.
Work in the client's language
Engagements can be conducted in English or Spanish, with the principal involved directly throughout.
When a Manhattan apartment becomes an estate asset.
A co-op or condominium held by an estate or trust keeps generating costs from the first day: maintenance or common charges, taxes, insurance and utilities. Meanwhile, the executor or trustee must establish authority, value the apartment as of the date of death, deal with personal property and decide whether to sell, keep or transfer it.
In a co-op, the board's role adds another layer. Transfers to heirs and sales to new purchasers may require approval, and the building's financial requirements for buyers affect who can realistically purchase and how quickly.
We help fiduciaries evaluate the apartment, coordinate with estate counsel and the managing agent, prepare and market the property, and keep beneficiaries informed. Legal questions about authority, Surrogate's Court procedure and beneficiary rights remain with estate counsel.
12 E 49th St
New York, NY 10017
Midtown Manhattan, steps from Fifth Avenue and Rockefeller Center.
Alejandro R. Hernandez III
Founder & CEO. J.D. and B.A. in Economics, The University of Texas at Austin. Serves clients in Manhattan, Los Angeles and Austin, in English and Spanish, and handles every engagement personally.
+1 646 290 7380
[email protected]
New York real estate broker — Keller Williams NYC, License #10301223455.
Licensed life insurance agent in New York, California, Connecticut, New Jersey and Texas.
Insights for New York clients
Discuss Manhattan property or a New York estate
Whether you are buying from abroad, administering an estate that owns a Manhattan apartment, or reviewing how your New York property fits your family's plan, we can begin with a complimentary 30-minute conversation.
Important Disclosures
This page is provided for general informational purposes only. It is not legal, tax, accounting, investment or insurance advice. Laws, taxes and procedures vary by jurisdiction and change over time.
ARH Global Advisors LLC is not a law firm. Its advisory or consulting services do not constitute legal advice, legal representation or create an attorney-client relationship. Clients should rely upon qualified counsel for legal advice.
ARH Global Advisors LLC does not provide tax or accounting advice. Tax matters should be reviewed with a qualified CPA, tax attorney or other appropriately licensed tax professional.
References to "fiduciary" considerations or fiduciary-focused services describe an advisory and coordination framework and should not be interpreted, by themselves, as a representation that ARH Global Advisors LLC is acting as an investment adviser, ERISA fiduciary, trustee, executor or other legally appointed fiduciary. Investment advisory services are not provided unless and until offered through an appropriately registered investment adviser pursuant to applicable agreements and disclosures.
Real estate brokerage activities and insurance transactions, where applicable, are conducted through appropriately licensed individuals and entities and are subject to separate agreements, disclosures and compensation arrangements. Market analyses and broker opinions are not substitutes for an appraisal when a formal appraisal is required.
Real estate brokerage services in New York are provided through Keller Williams NYC, subject to separate brokerage agreements and disclosures. References to taxes, co-operative board requirements and Surrogate's Court procedures are general in nature; clients should consult qualified New York counsel and tax professionals regarding their circumstances.
Services vary according to jurisdiction, property, engagement and applicable licensing requirements.