Entrepreneurs, executives, entertainment and sports figures, and professionals who already own property in Italy, London, Berlin, or Paris and are looking to diversify their portfolios by targeting a prestigious market that offers solid medium- to long-term returns. Individuals naturally drawn to the timeless appeal of the Big Apple and willing to invest significant sums.
That’s the profile of today’s Italian homebuyer in New York – a growing trend fueled in part by the favorable euro-to-dollar exchange rate.
The numbers speak for themselves. In the first half of 2025, international buyers in Manhattan and Brooklyn doubled compared to the previous year, with foreign investment surpassing $3.9 billion. In the second quarter of 2025, all-cash transactions in Manhattan reached a record 69.1%, climbing to 78.3% for properties priced above $3 million. During the same quarter last year, deals at $10 million or more doubled, totaling 120 transactions for a combined $2.9 billion. Italy has historically ranked among the top countries whose citizens choose New York as a place to purchase property.
Within this context, G International S.r.l. was established – a company operating between Italy and the United States. As a partner agency of Gabetti Franchising, its mission is to guide Italian buyers through real estate transactions in the heart of the Big Apple. Through a licensing agreement granting use of the “Gabetti USA” brand and in collaboration with Luca Paci, who is already active in the New York City real estate market, G International will operate in property brokerage across New York City (https://gabettiusa.com).
The project also aims to create a gateway platform for high-net-worth Italian investors seeking access to the U.S. real estate market – and vice versa – leveraging collaboration with Gabetti Franchising agencies in Italy as well as Santandrea Luxury Houses, the luxury division of the Gabetti Group.
“We strongly believe in this new venture,” says Ross Bellantoni, General Manager of Gabetti USA. “We are currently handling, on behalf of an American entrepreneur, the sale of two townhouses located in one of Brooklyn’s most exclusive neighborhoods, valued at $12.5 million, along with more than 25 negotiations involving Italian clients purchasing apartments in New York. This is a very different client base from the Emirates, where we have successfully operated for three years. In Dubai, you can buy a brand-new studio for €200,000 and rent it out or resell it. In New York, you need at least $650,000 for an existing apartment, which typically generates rental yields of 3–5%. Buyers here are not looking for short-term returns but long-term investments. Additionally, Manhattan faces a housing shortage relative to demand – an estimated 500,000 new housing units will be needed over the next ten years. That’s one more reason to invest today.”
“After the strong performance achieved in Dubai and Abu Dhabi by Ross Bellantoni’s team under the licensed Gabetti Middle East brand, we decided to support this American initiative as well. Expanding into New York City represents a natural step in our international growth strategy, taking us beyond our domestic borders to strengthen the Gabetti brand in key foreign markets that are strategically important for relations with Italy. It also creates an important opportunity to enhance collaboration with our franchising network and with Santandrea offices, the Group’s division dedicated to HNWIs, generating synergies and new opportunities for international development,” said Marco Speretta, CEO of Gabetti Group.
How Much It Costs to Buy – and Rent – in New York
In New York, 80% of apartments are located within cooperative buildings – properties owned by private corporations whose shareholders hold shares in the building and are subject to stricter purchasing procedures compared to condominiums, which operate under a freer market model similar to Italy’s.
To purchase a studio apartment in a Manhattan condominium, buyers need at least $650,000. A two- or three-bedroom apartment ranges between $1.5 million and $6 million, with luxury properties reaching peaks of $40,000 per square meter. In the second quarter of 2025 alone, 1,419 condominium apartment closings were completed.
Transaction costs must also be factored in. For buyers, total closing costs – including legal fees and taxes – average approximately 7% of the purchase price for new developments and about 5% for resale properties.
Rental prices are also at record levels. In Manhattan, a 1,130-square-foot three-bedroom apartment rents for approximately $8,500 per month, with luxury units reaching $15,500. A one-bedroom apartment rents for at least $5,700 per month.
Why Italians Are Buying Homes in New York
Some buyers purchase a property to rent it out for three or four years before eventually leaving it to children who plan to study in New York. Others simply want the pleasure of owning a pied-à-terre in one of the world’s most desirable cities and visiting occasionally. These are the primary motivations driving Italians to invest across the Atlantic.
“My clients typically already own property in Italy and have between $700,000 and $2 million to invest in order to diversify their portfolios,” explains Luca Paci, Sales Director of the New York agency. “These are significant investments, of course, but the pool of interested clients is truly extensive. New York is one of the most transparent, regulated, and stable markets in the world, offering medium- to long-term returns. With the launch of Gabetti USA, we aim to streamline and simplify the entire purchasing process, supporting our clients through Gabetti’s offices and agencies in Italy. Thanks to the strength of the euro against the dollar, buyers can currently enter the market at an effective 15–20% discount based solely on exchange rates.”
Gabetti International Real Estate USA primarily handles the purchase and sale of studio, one-bedroom, and two- to three-bedroom apartments ranging from 430 to 1,600 square feet, with prices between $650,000 and $6 million. Properties are located in Manhattan’s and Brooklyn’s most prestigious neighborhoods. Services include acquisition consulting, rental management, income generation strategies, potential renovations, assistance with financing, future resale planning, and full legal and tax support.
