How Manhattan real estate functions as an offshore USD denominated balance sheet asset with embedded liquidity

Posted by Wei Min Tan on February 2, 2026

For Singaporean investors seeking stability and growth, Manhattan real estate stands as a strategic, U.S. dollar-denominated asset with embedded liquidity.  Over time, historical appreciation illustrates this: in 1999, prices for a Manhattan condo were around $500 per square foot.  By the peak of 2017, they reached approximately $2,150 per square foot.  While there was a downturn from 2017 through 2020, notably during COVID, the market rebounded, reaching about $2,100 per square foot by Q4 2025.

Read about Wei Min’s style in Best Manhattan property agents and Role of a buyer’s broker.

U.S. Dollar Income Generation

Manhattan rental properties provide income in U.S. dollars – a currency regarded globally as a safe haven.  Yields typically range from 2% to 3%, offering Singapore buyers steady cash flow in a world reserve currency.  This creates a natural hedge – providing diversification from SGD exposure while tapping into a premier global city.  Whether you rent out the condo or just ride the appreciation, returns flow in USD.

Wei Min’s article: New York Property Report

USD Resale Market

When it’s time to exit, you’re tapping into a global resale market—liquid and in USD.  The buyer pool is global and can come from a local New Yorker or a buyer from Asia or the Middle East.  Resale liquidity is embedded in Manhattan’s global allure.

Deal Example:  305 E 51 St, Halcyon.  Buyer client reserved property at pre-construction stage.  Completed 2 years later and rented out with strong cashflow to owner since then.  Property is close to the United Nations, Citigroup Center, Blackstone, Blackrock, Chase Bank.

U.S. Legal Protection

Ownership is secured by the U.S. legal framework—providing transparency and protection.  For Singaporean buyers, this ensures long-term peace of mind, knowing their offshore asset is governed by a stable rule of law.  Disputes follow a transparent legal process, giving Singapore buyers confidence in long term ownership.

Manhattan real estate, for Singaporeans, is more than property—it’s a resilient, U.S. dollar-denominated asset with a track record of growth and embedded liquidity.

Deal example:  Represented multiple investor clients in reserving Tribeca Green at initial pricing.   This was Manhattan’s hottest new development.

What We Do

We focus on global investors buying Manhattan condos for portfolio diversification and long term return-on-investment.
1) Identify the right buy based on objectives
2) Manage the buy process
3) Rent out the property
4) Manage tenants
5) Market the property at the eventual sale