Luxury Manhattan Real Estate Experts

Valeo Realty Group is a boutique
New York City Real Estate firm
specializing in Residential
& Commercial properties

Moving to NYC? Residential rentals and purchases with no fees.

Call 212-706-8883

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23+Years in Manhattan

9Licensed Agents

10+Languages Spoken

30%Referral Fee Program

Explore Our Services

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Our Team

Meet our licensed Manhattan agents — multilingual experts in residential and commercial real estate.

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No Broker Fee

Residential rentals and purchases with no fees — including Billionaires' Row and Central Park South.

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Broker Sponsorship NY

We sponsor NY real estate sales agents. Plan A: 80% split · Plan B: 100% commission.

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Institutional Capital

Deal-by-deal operating partner for family offices, private equity, and institutional investors.

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Referral Program

Licensed agents and brokers earn 30% referral fee on every client referred to our firm.

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Contact Us

57 West 58th Street, Manhattan · Tel: 212-706-8883 · valentina@valeorealty.com

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Transparency & Process

Standardized Operating Procedure
for Prospective Buyers

Photo Identification We do not require photo identification for property showings; however, individual property owners or listing brokers may require it.

Buyer Representation Agreement We do require a signed Buyer Representation Agreement (Buyer–Broker Agreement) before scheduling property showings, in accordance with New York State and MLS rules that took effect in August 2024.

Mortgage Pre-Approval We do not require mortgage pre-approval, although sellers or listing brokers may request it.

Resources & Guides

From the Blog

Buying Guide Aug 31, 2025

Buying Property in New York — How to Buy Real Estate in New York

Choose Between a Co-op, Condo, or Cond-op

Most New York apartments — around 80% — are co-ops. Newly built buildings are usually condominiums. Condos are considered real property, while co-ops involve buying shares in a corporation that owns the building. There's also a third type: cond-ops, which are co-ops governed by some condo rules.

Co-ops are generally less expensive than condos, but buying one requires Board approval.

Co-ops

Unique to New York, co-op ownership means you buy shares in a corporation that owns the building. Residents hold a proprietary lease allowing them to occupy their unit. Essentially, you are a shareholder or tenant rather than an outright owner.

Condos

New York condos function like condos anywhere else or like single-family homes. Buyers usually need Condo Board approval, though it is far less strict than a co-op Board. Rejections are rare, and if a buyer is rejected, the Board may be required to purchase the unit themselves.

Monthly Maintenance and Assessments

Condo owners pay common charges, which cover building maintenance and staff salaries, plus real estate taxes separately. Co-op owners pay a maintenance fee, collected by building management, which includes taxes.

Maintenance fees typically rise about 3% per year. Both condos and co-ops can levy assessments for major repairs or renovations, such as roof replacement, elevator upgrades, or lobby renovations.

Minimum Down Payment Requirements

Condos: Usually require a 10% down payment.
Co-ops: Minimum 20% down, often 25%, and in some high-end buildings on Park Avenue, even 40–50%.

Buyers must also maintain sufficient liquid assets — typically two years' worth of maintenance fees — and meet a debt-to-income ratio of 25–29%. A strong credit score is also essential.

Board Approval Process

Old buildings require Board approval for both co-ops and condos. New developments or units purchased directly from the sponsor (developer) usually do not. Co-op Boards can reject buyers for any legal reason.

Condos Are Better for Investment

Condos are more flexible for rentals. Co-ops have strict restrictions: buyers must usually live in the unit for two years before renting, can rent for a maximum of two years, and must return to live in the unit afterward.

For more information about buying an apartment in NYC, call 212-706-8883

Financing Aug 31, 2025

Financing for Foreign Buyers — Home Loans for Overseas Investors

Buying an apartment in New York doesn't have to mean paying all cash. If you are a foreign national, it is possible to secure financing from a U.S. bank — and we can help you through the process.

Buying a Co-op in NYC: Closing Costs

When purchasing a co-op in New York City, buyers should budget for several categories of closing costs. These can vary by building and transaction type, but here are the typical expenses:

For the Purchaser

Real Estate Attorney: $1,500 – $3,000+
Mansion Tax: 1% of purchase price (applies to purchases of $1 million or more)
Managing Agent Application / Processing Fees: $500 – $1,000+
Credit Report Fee: $50 – $100+ per applicant
Move-In Deposit / Fee: $500 – $1,000+ (varies by building)
Maintenance Adjustment: Pro-rated for month of closing
Short-Term Interest: Interest due for the balance of the closing month
Miscellaneous Co-op Charges: Varies by building
Flip Tax (if applicable): Building-specific

If Purchasing Directly From a Sponsor

NYC Real Property Transfer Tax: 1% if $500,000 or less · 1.425% if over $500,000
NYS Transfer Tax: 0.4% of purchase price
Sponsor's Attorney Fee: $1,500 – $3,000+
Reserve Fund Contribution: Typically equal to 2+ months of maintenance

Mortgage-Related Fees

Origination Fees / Points: 0% – 3%+ of mortgage amount
Mortgage Application, Credit Check & Processing: $500 – $1,000+
Appraisal: $400 – $600+
Bank Attorney: $500 – $750+
Recognition Agreement Fee: $200+
Lien Search Fee: $250 – $500+
UCC-1 Filing Fee: $100+
Miscellaneous Fees: Lead paint disclosure, filing fees, co-op charges, etc.

💡 Tip: Valeo Realty Group can cover part of your closing costs when you work with us as your Buyer's Broker. Call 212-706-8883 to learn more.

Financing Options for Foreign Nationals

Foreign National Loans: Non-U.S. citizens without lawful residency cannot access Fannie Mae, Freddie Mac, or FHA loans. Instead, financing is available through private banks.
Requirements: Private lenders typically require a larger down payment — usually 30% to 50% — and may charge higher interest rates to reduce their risk.

Credit Scoring for Foreign Nationals

Applicants without a U.S. credit history can qualify through non-traditional credit reports, which may include:

Utility payments
Rental history
School tuition
Childcare costs
Personal loans
Proof of savings over 12 months

Non-Permanent Resident Aliens

If you don't have a green card but hold a Social Security number, you may still qualify for financing. You'll need a valid work permit or employer-sponsored visa, and proof you can live and work in the U.S. for at least three years.

Refugees and Asylees

Immigrants who have been granted refugee or asylum status are treated like lawful resident aliens and can obtain mortgages similar to U.S. residents.

Permanent Resident Aliens

Permanent residents can qualify for the same mortgages as U.S. citizens, including Fannie Mae and Freddie Mac loans. Required documentation typically includes a green card and Social Security number.

📞 Call us at 212-706-8883 to discuss your financing options as a foreign buyer in New York.

Policy Aug 31, 2025

Fair Housing Policy

We commit to providing equal professional service to all, without regard to race, color, religion, sex, handicap, familial status or national origin, or intention to make any such preference, limitation or discrimination.
All residential real estate information on this website is subject to the Federal Fair Housing Act Title VIII of the Civil Rights Act of 1968.

For Licensed Agents & Brokers

Earn a 30% referral fee on every client you send our way

We offer a formal referral program for licensed real estate agents and brokers nationwide. We handle the transaction — you collect at closing.

Valentina Pencheva

Founder & Principal Broker

Languages: English, French, Italian, Russian, Bulgarian

Founder and CEO of Valeo Realty Group LLC with 23+ years of Manhattan real estate experience. An international business executive, she holds advanced degrees including studies at the University of Oxford and served as Senior Advisor to the Trade and Economic Relations Office of the Republic of Bulgaria in New York.

Vivian Perrelli

Director of Sales

Languages: English, Italian

A native New Yorker, Vivian owned and managed a successful construction company for 7 years before joining Manhattan Apartments, Inc. in 1994. She joined Valeo Realty Group in 2008 and serves as Director of Sales, with intimate knowledge of Manhattan property values across all neighborhoods.