UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act File Number:    811-21677                                         

Cohen & Steers International Realty Fund, Inc.

(Exact name of registrant as specified in charter)

280 Park Avenue, New York, NY 10017

(Address of principal executive offices) (Zip code)

Dana A. DeVivo

Cohen & Steers Capital Management, Inc.

280 Park Avenue

New York, New York 10017

(Name and address of agent for service)

Registrant’s telephone number, including area code:     (212) 832-3232                                         

Date of fiscal year end:     December 31                                         

Date of reporting period:     December 31, 2018                                        

Item 1. Reports to Stockholders.

COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

To Our Shareholders:

We would like to share with you our report for the year ended December 31, 2018. The total returns for Cohen & Steers International Realty Fund, Inc. (the Fund) and its comparative benchmarks were:

	Six Months Ended December 31, 2018			Year Ended December 31, 2018
Cohen & Steers International Realty Fund:
Class A		–4.27	%		–4.06	%
Class C		–4.63	%		–4.74	%
Class I		–4.15	%		–3.76	%
Class R		–4.40	%		–4.25	%
Class Z		–4.14	%		–3.76	%
FTSE EPRA Nareit Developed Ex-US Real Estate Index—neta		–6.02	%		–6.41	%
S&P 500 Indexa		–6.85	%		–4.38	%

The performance data quoted represent past performance. Past performance is no guarantee of future results. The investment return and the principal value of an investment will fluctuate and shares, if redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. Current total returns of the Fund can be obtained by visiting our website at cohenandsteers.com. All share class returns assume the reinvestment of all dividends and distributions at net asset value (NAV). Fund performance figures reflect fee waivers and/or expense reimbursements, without which the performance would have been lower. Performance quoted does not reflect the deduction of the maximum 4.50% initial sales charge on Class A shares or the 1.00% maximum contingent deferred sales charge on Class C shares. The 1.00% maximum contingent deferred sales charge on Class C shares applies if redemption occurs on or before the one year anniversary date of their purchase. If such charges were included, returns would have been lower. Index performance does not reflect the deduction of any fees, taxes or expenses. An investor cannot invest directly in an index. Performance figures for periods shorter than one year are not annualized.

Please note that distributions paid by the Fund to shareholders are subject to recharacterization for tax purposes and are taxable up to the amount of the Fund’s investment company taxable income and net realized gains. Distributions in excess of the Fund’s investment company taxable income and net realized gains are a return of capital distributed from the Fund’s assets.

^a  The FTSE EPRA Nareit Developed Ex-US Real Estate Index—net is an unmanaged market-capitalization-weighted total return index which consists of publicly traded equity real estate investment trusts (REITs) and listed property companies from developed markets excluding the United States and is net of dividend withholding taxes. The S&P 500 Index is an unmanaged index of 500 large-capitalization stocks that is frequently used as a general measure of U.S. stock market performance.

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COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

Market Review

Real estate securities had a negative total return in 2018, in what was a tumultuous year for investments in general. Following a period of steady gains after a sharp correction in February, equity and credit markets again encountered turbulence in the third quarter amid tightening financial conditions, rising global trade tensions and slowing economic growth. The broad global equity market suffered its largest annual decline since 2008.

Although economic growth remained above trend globally, momentum slowed across most regions. Europe and China in particular showed signs of deceleration, and the European Central Bank ended its bond-buying program. Additionally, the strengthening U.S. dollar indirectly led to tighter credit conditions globally during the year—especially in emerging markets.

The fourth quarter saw a significant shift in investor preferences toward more defensive assets. After trailing the broad global equity market for much of the year, real estate stocks began to outperform as investors’ appetite for riskier assets diminished. While real estate share prices fell directionally with the broad market, investors generally favored stocks in the asset class for their stable cash flow generation, attractive dividend yields and relative valuations.

Fund Performance

The Fund had a negative total return in the year, although it outperformed its benchmark. Markets in continental Europe were mixed. Germany was a positive standout, led by apartment landlords that continued to benefit from strong residential fundamentals. Overweight positions in German residential companies Deutsche Wohnen and ADO Properties contributed to the Fund’s relative performance during the year. France and the Netherlands saw sizable declines in retail landlords. Unibail-Rodamco-Westfield (listed in the Netherlands) was negatively impacted by poorer results from its retail malls in Europe and the U.S. In addition, management tempered its future growth expectations and outlook for development returns. An underweight allocation in the Netherlands aided the Fund’s relative performance.

The U.K. was hindered by uncertainty regarding ongoing Brexit negotiations, which by the end of the year were in disarray. Retail landlords were among the poorest performers amid secular concerns over online retailers gaining market share from their tenants, while certain less-cyclical companies, such as self storage and student housing operators, had gains. Security selection in the U.K. contributed to relative performance, in part due to the Fund holding underweight positions or not owning certain retail and residential landlords.

Most real estate stocks in Japan advanced, with large J-REITs such as Nippon Building Fund among the stronger performers as investors sought safety. The Fund’s security selection in Japan detracted from relative performance, partially due to an overweight in mid-cap developer Tokyo Tatemono, which underperformed as investors favored large-cap names in the period. Hong Kong, which moved up and down in reaction to China economic and trade news, ultimately ended the period lower as growth on the mainland continued to slow from high levels. Unfavorable security selection in Hong Kong detracted from relative performance, as the Fund held overweight positions in some development companies that declined on generally weaker residential sales on the island.

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COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

Australia saw rallies in most property stocks. The country’s REITs are considered to be a safe-haven alternative to other equities when local investors are concerned about growth. The Fund’s security selection in Australia aided relative performance, mostly reflecting an out-of-index position in Charter Hall Retail REIT, which benefited from its more defensive underlying supermarket exposure. An underweight allocation in Singapore also contributed. The country, which is typically sensitive to global trade news, underperformed as the trade picture remained clouded.

Canada outperformed modestly, but uncertainty about renegotiating its trade agreement with the U.S. restrained investor sentiment. Stock selection in the country hindered relative performance, primarily due to an overweight position in Calgary-based apartment landlord Boardwalk REIT, which declined despite a strategic turnaround in the company’s operations that is leading to improved cash flows.

Impact of Foreign Currency on Fund Performance

The currency impact of the Fund’s investments in foreign securities detracted from absolute performance during the year. Although the Fund reports its NAV and pays dividends in U.S. dollars, the Fund’s investments denominated in foreign currencies are subject to foreign currency risk. Most currencies depreciated against the U.S. dollar, including the euro and U.K. pound. Consequently, changes in the exchange rates between foreign currencies and the U.S. dollar were a net headwind for absolute returns.

Sincerely,

JON CHEIGH Portfolio Manager	WILLIAM LEUNG Portfolio Manager

ROGIER QUIRIJNS

Portfolio Manager

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COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

The views and opinions in the preceding commentary are subject to change without notice and are as of the date of the report. There is no guarantee that any market forecast set forth in the commentary will be realized. This material represents an assessment of the market environment at a specific point in time, should not be relied upon as investment advice and is not intended to predict or depict performance of any investment.

Visit Cohen & Steers online at cohenandsteers.com

For more information about the Cohen & Steers family of mutual funds, visit cohenandsteers.com. Here you will find fund net asset values, fund fact sheets and portfolio highlights, as well as educational resources and timely market updates.

Our website also provides comprehensive information about Cohen & Steers, including our most recent press releases, profiles of our senior investment professionals and their investment approach to each asset class. The Cohen & Steers family of mutual funds invests in major real asset categories including real estate securities, listed infrastructure, commodities and natural resource equities, as well as preferred securities and other income solutions.

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COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

Performance Review (Unaudited)

Class A—Growth of a $10,000 Investment   Class C—Growth of a $10,000 Investment  

Class I—Growth of a $100,000 Investment   Class R—Growth of a $10,000 Investment  

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COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

Performance Review (Unaudited)—(Continued)

Class Z—Growth of a $10,000 Investment

Average Annual Total Returns—For Periods Ended December 31, 2018

	Class A Shares			Class C Shares			Class I Shares			Class R Shares			Class Z Shares
1 Year (with sales charge)		–8.38	%a		–5.70	%c		—			—			—
1 Year (without sales charge)		–4.06	%		–4.74	%		–3.76	%		–4.25	%		–3.76	%
5 Years (with sales charge)		2.49	%a		2.76	%		—			—			—
5 Years (without sales charge)		3.43	%		2.76	%		3.79	%		—			—
10 Years (with sales charge)		7.30	%a		7.10	%		—			—			—
10 Years (without sales charge)		7.80	%		7.10	%		8.17	%		—			—
Since Inceptiond (with sales charge)		3.96	%a		3.63	%		—			—			—
Since Inceptiond (without sales charge)		4.31	%		3.63	%		4.66	%		5.17	%		5.59	%

The performance data quoted represent past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate and shares, if redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. Performance information current to the most recent month end can be obtained by visiting our website at cohenandsteers.com. All share class returns assume the reinvestment of all dividends and distributions at NAV. The performance graphs and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. During the periods presented above, the investment advisor waived fees and/or reimbursed expenses. Without this arrangement, performance would have been lower.

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COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

Performance Review (Unaudited)—(Continued)

The annualized gross and net expense ratios, respectively, for each class of shares as disclosed in the May 1, 2018 prospectus, as supplemented on January 22, 2019, were as follows: Class A—1.44% and 1.35%; Class C—2.09% and 2.00%; Class I—1.16% and 1.00%; Class R—1.59% and 1.50% and Class Z—1.09% and 1.00%. Through June 30, 2020, the investment advisor has contractually agreed to waive its fee and/or reimburse the Fund for expenses incurred so that the Fund’s total annual operating expenses (excluding acquired fund fees and expenses, taxes and extraordinary expenses) do not exceed 1.35% for Class A shares, 2.00% for Class C shares, 1.00% for Class I shares, 1.50% for Class R shares and 1.00% for Class Z shares. This contractual agreement can be amended at any time by agreement of the Fund’s Board of Directors and the investment advisor and will terminate automatically in the event of termination of the investment advisory agreement between the investment advisor and the Fund.

^a  Reflects a 4.50% front-end sales charge.

^b  The comparative indexes are not adjusted to reflect expenses or other fees that the U.S. Securities and Exchange Commission (SEC) requires to be reflected in the Fund’s performance. Index performance does not reflect the deduction of any fees, taxes or expenses. An investor cannot invest directly in an index. The Fund’s performance assumes the reinvestment of all dividends and distributions at NAV. For more information, including charges and expenses, please read the prospectus carefully before you invest.

^c  Reflects a contingent deferred sales charge of 1.00%.

^d  Inception dates: March 31, 2005 for Class A, C and I shares and October 1, 2015 for Class R and Z shares.

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COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

Expense Example (Unaudited)

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments; and (2) ongoing costs including investment advisory fees; distribution and/or service (12b-1) fees; and other Fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period July 1, 2018—December 31, 2018.

Actual Expenses

The first line of the following table provides information about actual account values and expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled “Expenses Paid During Period” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes

The second line of the following table provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing cost of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs, such as sales charges (loads). Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

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COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

Expense Example (Unaudited)—(Continued)

	Beginning Account Value July 1, 2018		Ending Account Value December 31, 2018		Expenses Paid During Perioda July 1,  2018— December 31, 2018
Class A
Actual (–4.27% return)	$	1,000.00	$	957.30	$	6.66
Hypothetical (5% annual return before expenses)	$	1,000.00	$	1,018.40	$	6.87
Class C
Actual (–4.63% return)	$	1,000.00	$	953.70	$	9.85
Hypothetical (5% annual return before expenses)	$	1,000.00	$	1,015.12	$	10.16
Class I
Actual (–4.15% return)	$	1,000.00	$	958.50	$	4.94
Hypothetical (5% annual return before expenses)	$	1,000.00	$	1,020.16	$	5.09
Class R
Actual (–4.40% return)	$	1,000.00	$	956.00	$	7.40
Hypothetical (5% annual return before expenses)	$	1,000.00	$	1,017.64	$	7.63
Class Z
Actual (–4.14% return)	$	1,000.00	$	958.60	$	4.94
Hypothetical (5% annual return before expenses)	$	1,000.00	$	1,020.16	$	5.09

^a  Expenses are equal to the Fund’s Class A, Class C, Class I, Class R and Class Z annualized net expense ratios of 1.35%, 2.00%, 1.00%, 1.50% and 1.00%, respectively, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period).

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COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

December 31, 2018

Top Ten Holdings

(Unaudited)

Security	Value		% of Net Assets
Deutsche Wohnen SE	$	31,612,623		5.4
Link REIT		30,163,177		5.1
CK Asset Holdings Ltd.		26,087,246		4.5
Mitsubishi Estate Co., Ltd.		20,435,885		3.5
GPT Group		19,085,904		3.3
Sumitomo Realty & Development Co., Ltd.		17,901,601		3.1
Orix JREIT, Inc.		16,315,752		2.8
Nippon Building Fund, Inc.		16,056,897		2.7
Boardwalk REIT		15,755,044		2.7
Mitsui Fudosan Co., Ltd.		15,674,761		2.7

Country Breakdown

(Based on Net Assets)

(Unaudited)

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COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

SCHEDULE OF INVESTMENTS

December 31, 2018

		Shares		Value
COMMON STOCK	97.2%
AUSTRALIA	9.4%
REAL ESTATE
DIVERSIFIED	6.2%
BGP Holdings PLC (EUR)a,b			56,622,235	$	0
Charter Hall Group			1,959,134		10,243,724
GPT Group			5,071,937		19,085,904
Ingenia Communities Group			3,350,916		7,080,652
					36,410,280
INDUSTRIALS	1.9%
Goodman Group			1,427,732		10,694,944
SELF STORAGE	1.3%
New South Resources Ltd.			6,214,783		7,683,548
TOTAL AUSTRALIA					54,788,772
AUSTRIA	0.8%
REAL ESTATE—DIVERSIFIED
CA Immobilien Anlagen AG			156,538		4,953,740
BELGIUM	0.8%
REAL ESTATE—RESIDENTIAL
Aedifica SA			55,682		5,019,653
BRAZIL	0.7%
REAL ESTATE—RETAIL
BR Malls Participacoes SA			563,323		1,897,683
Iguatemi Empresa de Shopping Centers SA			193,877		2,079,021
TOTAL BRAZIL					3,976,704
CANADA	4.5%
REAL ESTATE
OFFICE	1.8%
Allied Properties REIT			320,448		10,403,058
RESIDENTIAL	2.7%
Boardwalk REIT			568,865		15,755,044
TOTAL CANADA					26,158,102

See accompanying notes to financial statements.

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COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

SCHEDULE OF INVESTMENTS—(Continued)

December 31, 2018

		Shares		Value
FRANCE	4.7%
REAL ESTATE
DIVERSIFIED	2.5%
Covivio			153,061	$	14,767,803
OFFICE	1.4%
Gecina SA			64,154		8,304,729
RETAIL	0.8%
Klepierre SA			140,966		4,356,425
TOTAL FRANCE					27,428,957
GERMANY	8.4%
REAL ESTATE
OFFICE	0.8%
Alstria Office REIT AG			320,281		4,484,165
RESIDENTIAL	7.0%
ADO Properties SA, 144Ac			129,078		6,715,320
Deutsche Wohnen SE			691,731		31,612,623
LEG Immobilien AG			27,418		2,860,512
					41,188,455
RETAIL	0.6%
VIB Vermoegen AG			150,990		3,667,531
TOTAL GERMANY					49,340,151
HONG KONG	19.2%
REAL ESTATE
DIVERSIFIED	14.1%
China Overseas Land & Investment Ltd.			1,432,000		4,937,264
China Resources Land Ltd.			1,032,075		3,970,055
CK Asset Holdings Ltd.			3,565,500		26,087,246
Hang Lung Properties Ltd.			4,071,000		7,737,850
New World Development Co., Ltd.			9,128,579		12,056,747
Sun Hung Kai Properties Ltd.			1,080,627		15,422,295
Swire Properties Ltd.			3,462,600		12,166,329
					82,377,786
RETAIL	5.1%
Link REIT			2,975,341		30,163,177
TOTAL HONG KONG					112,540,963

See accompanying notes to financial statements.

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COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

SCHEDULE OF INVESTMENTS—(Continued)

December 31, 2018

		Shares		Value
JAPAN	26.4%
REAL ESTATE
DIVERSIFIED	18.6%
Activia Properties, Inc.			2,192	$	8,905,818
Invincible Investment Corp.			19,187		7,913,523
Mitsubishi Estate Co., Ltd.			1,298,877		20,435,885
Mitsui Fudosan Co., Ltd.			705,692		15,674,761
NIPPON REIT Investment Corp.			2,267		7,522,285
Orix JREIT, Inc.			9,811		16,315,752
Sumitomo Realty & Development Co., Ltd.			489,000		17,901,601
Tokyo Tatemono Co., Ltd.			984,830		10,209,349
Tokyu Fudosan Holdings Corp.			764,484		3,768,163
					108,647,137
INDUSTRIALS	2.6%
Industrial & Infrastructure Fund Investment Corp.			4,535		4,706,862
Nippon Prologis REIT, Inc.			4,860		10,256,899
					14,963,761
OFFICE	2.7%
Nippon Building Fund, Inc.			2,550		16,056,897
RESIDENTIAL	0.5%
Comforia Residential REIT, Inc.			1,245		3,172,951
RETAIL	2.0%
Japan Retail Fund Investment Corp.			5,757		11,488,488
TOTAL JAPAN					154,329,234
MEXICO	0.6%
REAL ESTATE—OFFICE
Concentradora Fibra Danhos SA de CV			2,921,542		3,443,098
NORWAY	1.6%
REAL ESTATE—OFFICE
Entra ASA, 144Ac			719,582		9,583,456
SINGAPORE	3.2%
REAL ESTATE
DIVERSIFIED	1.8%
CapitaLand Ltd.			2,461,300		5,612,817
Keppel DC REIT			4,552,500		4,512,635
					10,125,452

See accompanying notes to financial statements.

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COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

SCHEDULE OF INVESTMENTS—(Continued)

December 31, 2018

		Shares		Value
HEALTH CARE	1.4%
Parkway Life Real Estate Investment Trust			4,335,100	$	8,362,336
TOTAL SINGAPORE					18,487,788
SPAIN	3.4%
REAL ESTATE
DIVERSIFIED	1.0%
Merlin Properties Socimi SA			487,293		6,019,701
OFFICE	2.0%
Inmobiliaria Colonial Socimi SA			1,265,226		11,794,408
RESIDENTIAL	0.4%
Aedas Homes SAU, 144Ab,c			81,388		2,066,426
TOTAL SPAIN					19,880,535
SWEDEN	4.2%
REAL ESTATE
DIVERSIFIED	1.5%
Castellum AB			491,676		9,085,509
OFFICE	0.5%
Wihlborgs Fastigheter AB			258,056		2,991,875
RETAIL	2.2%
Catena AB			507,935		12,675,242
TOTAL SWEDEN					24,752,626
UNITED KINGDOM	9.3%
REAL ESTATE
DIVERSIFIED	3.1%
British Land Co., PLC			1,690,820		11,498,022
LondonMetric Property PLC			3,045,421		6,751,720
					18,249,742
HEALTH CARE	1.4%
Assura PLC			11,721,534		7,895,392
INDUSTRIALS	1.8%
Segro PLC			1,388,841		10,426,224
RESIDENTIAL	0.7%
UNITE Group PLC			399,066		4,103,019

See accompanying notes to financial statements.

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COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

SCHEDULE OF INVESTMENTS—(Continued)

December 31, 2018

		Shares		Value
SELF STORAGE	2.3%
Big Yellow Group PLC			618,272	$	6,880,554
Safestore Holdings PLC			1,054,608		6,808,389
					13,688,943
TOTAL UNITED KINGDOM					54,363,320
TOTAL COMMON STOCK (Identified cost—$572,291,158)					569,047,099
SHORT-TERM INVESTMENTS	0.8%
MONEY MARKET FUNDS
State Street Institutional Treasury Money Market Fund, Premier Class, 2.24%d			4,376,795		4,376,795
TOTAL SHORT-TERM INVESTMENTS (Identified cost—$4,376,795)					4,376,795
TOTAL INVESTMENTS IN SECURITIES (Identified cost—$576,667,953)	98.0%				573,423,894
OTHER ASSETS IN EXCESS OF LIABILITIES	2.0				11,998,940
NET ASSETS	100.0%			$	585,422,834

Glossary of Portfolio Abbreviations

EUR	Euro Currency
REIT	Real Estate Investment Trust

Note: Percentages indicated are based on the net assets of the Fund.

^a  Security value is determined based on significant unobservable inputs (Level 3).

^b  Non-income producing security.

^c  Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold to qualified institutional buyers. Aggregate holdings amounted to $18,365,202 which represents 3.1% of the net assets of the Fund, of which 0.0% are illiquid.

^d  Rate quoted represents the annualized seven-day yield.

See accompanying notes to financial statements.

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COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

SCHEDULE OF INVESTMENTS—(Continued)

December 31, 2018

Sector Summary	% of Net Assets
Diversified		49.6
Residential		12.1
Office		11.4
Retail		11.4
Industrials		6.3
Self Storage		3.6
Other		2.8
Health Care		2.8
		100.0

See accompanying notes to financial statements.

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COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

STATEMENT OF ASSETS AND LIABILITIES

December 31, 2018

ASSETS:
Investments in securities, at value (Identified cost—$576,667,953)	$	573,423,894
Foreign currency, at value (Identified cost—$4,211,908)		4,242,990
Receivable for:
Fund shares sold		7,517,415
Dividends		2,317,401
Investment securities sold		1,885,588
Other assets		210,782
Total Assets		589,598,070
LIABILITIES:
Payable for:
Fund shares redeemed		2,741,671
Investment securities purchased		754,847
Investment advisory fees		400,852
Shareholder servicing fees		96,497
Administration fees		20,545
Distribution fees		3,366
Directors’ fees		270
Other liabilities		157,188
Total Liabilities		4,175,236
NET ASSETS	$	585,422,834
NET ASSETS consist of:
Paid-in capital	$	594,450,369
Total distributable earnings/(accumulated loss)		(9,027,535	)
	$	585,422,834

See accompanying notes to financial statements.

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COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

STATEMENT OF ASSETS AND LIABILITIES—(Continued)

December 31, 2018

CLASS A SHARES:
NET ASSETS	$	45,434,326
Shares issued and outstanding ($0.001 par value common stock outstanding)		4,086,208
Net asset value and redemption price per share	$	11.12
Maximum offering price per share ($11.12 ÷ 0.955)a	$	11.64
CLASS C SHARES:
NET ASSETS	$	25,676,515
Shares issued and outstanding ($0.001 par value common stock outstanding)		2,329,541
Net asset value and offering price per shareb	$	11.02
CLASS I SHARES:
NET ASSETS	$	513,273,246
Shares issued and outstanding ($0.001 par value common stock outstanding)		45,896,462
Net asset value, offering and redemption price per share	$	11.18
CLASS R SHARES:
NET ASSETS	$	87,606
Shares issued and outstanding ($0.001 par value common stock outstanding)		7,805
Net asset value, offering and redemption price per share	$	11.22
CLASS Z SHARES:
NET ASSETS	$	951,141
Shares issued and outstanding ($0.001 par value common stock outstanding)		85,064
Net asset value, offering and redemption price per share	$	11.18

^a  On investments of $100,000 or more, the offering price is reduced.

^b  Redemption price per share is equal to the net asset value per share less any applicable contingent deferred sales charge of 1.00% on shares held for less than one year.

See accompanying notes to financial statements.

18

COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

STATEMENT OF OPERATIONS

For the Year Ended December 31, 2018

Investment Income:
Dividend income (net of $1,618,843 of foreign withholding tax)	$	19,965,897
Expenses:
Investment advisory fees		6,201,294
Shareholder servicing fees—Class A		56,132
Shareholder servicing fees—Class C		77,056
Shareholder servicing fees—Class I		385,456
Distribution fees—Class A		140,329
Distribution fees—Class C		231,169
Distribution fees—Class R		611
Administration fees		351,466
Custodian fees and expenses		129,531
Transfer agent fees and expenses		90,958
Professional fees		90,322
Registration and filing fees		89,672
Shareholder reporting expenses		66,248
Directors’ fees and expenses		39,364
Miscellaneous		40,606
Total Expenses		7,990,214
Reduction of Expenses (See Note 2)		(957,240	)
Net Expenses		7,032,974
Net Investment Income (Loss)		12,932,923
Net Realized and Unrealized Gain (Loss):
Net realized gain (loss) on:
Investments in securities		47,986,530
Foreign currency transactions		(39,050	)
Net realized gain (loss)		47,947,480
Net change in unrealized appreciation (depreciation) on:
Investments in securities		(85,848,972	)
Foreign currency translations		36,064
Net change in unrealized appreciation (depreciation)		(85,812,908	)
Net Realized and Unrealized Gain (Loss)		(37,865,428	)
Net Increase (Decrease) in Net Assets Resulting from Operations	$	(24,932,505	)

See accompanying notes to financial statements.

19

COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

STATEMENT OF CHANGES IN NET ASSETS

	For the Year Ended December 31, 2018			For the Year Ended December 31, 2017
Change in Net Assets:
From Operations:
Net investment income (loss)	$	12,932,923		$	12,346,966
Net realized gain (loss)		47,947,480			62,186,555
Net change in unrealized appreciation (depreciation)		(85,812,908	)		56,498,183
Net increase (decrease) in net assets resulting from operations		(24,932,505	)		131,031,704
Distributions to Shareholders:a
Class A		(1,851,843	)		(2,012,671	)
Class C		(848,940	)		(839,642	)
Class I		(22,318,904	)		(18,674,282	)
Class R		(3,297	)		(5,536	)
Class Z		(23,468	)		(1,304	)
Total distributions		(25,046,452	)		(21,533,435	)
Capital Stock Transactions:
Increase (decrease) in net assets from Fund share transactions		(16,542,877	)		(29,487,939	)
Total increase (decrease) in net assets		(66,521,834	)		80,010,330
Net Assets:
Beginning of year		651,944,668			571,934,338
End of year	$	585,422,834		$	651,944,668

^a  Distributions to shareholders from net investment income for the year ended December 31, 2017 have been reclassified to distributions to shareholders to reflect required amendments to Regulation S-X and to conform to the current year presentation.

See accompanying notes to financial statements.

20

COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

FINANCIAL HIGHLIGHTS

The following tables include selected data for a share outstanding throughout each year and other performance information derived from the financial statements. They should be read in conjunction with the financial statements and notes thereto.

	Class A
	For the Year Ended December 31,
Per Share Operating Performance:	2018			2017			2016			2015			2014
Net asset value, beginning of year		$12.02			$10.09			$10.74			$11.23			$11.34
Income (loss) from investment operations:
Net investment income (loss)a		0.20			0.19			0.18			0.16			0.30	b
Net realized and unrealized gain (loss)		(0.68	)		2.11	c		(0.21	)		(0.33	)		(0.04	)
Total from investment operations		(0.48	)		2.30			(0.03	)		(0.17	)		0.26
Less dividends and distributions to shareholders from:
Net investment income		(0.42	)		(0.37	)		(0.62	)		(0.32	)		(0.37	)
Tax return of capital		—			—			(0.00	)d		—			—
Total dividends and distributions to shareholders		(0.42	)		(0.37	)		(0.62	)		(0.32	)		(0.37	)
Net increase (decrease) in net asset value		(0.90	)		1.93			(0.65	)		(0.49	)		(0.11	)
Net asset value, end of year		$11.12			$12.02			$10.09			$10.74			$11.23
Total returne,f		–4.06	%		23.03	%c		–0.38	%		–1.58	%		2.30	%
Ratios/Supplemental Data:
Net assets, end of year (in millions)		$45.4			$63.9			$55.7			$78.6			$121.7
Ratios to average daily net assets:
Expenses (before expense reduction)		1.44	%		1.46	%		1.47	%		1.48	%		1.46	%
Expenses (net of expense reduction)		1.35	%		1.35	%		1.34	%		1.36	%		1.35	%
Net investment income (loss) (before expense reduction)		1.61	%		1.58	%		1.53	%		1.31	%		2.53	%
Net investment income (loss) (net of expense reduction)		1.70	%		1.69	%		1.66	%		1.43	%		2.64	%
Portfolio turnover rate		76	%		67	%		68	%		73	%		101	%

^a  Calculation based on average shares outstanding.

^b  33.3% of gross income was attributable to dividends paid by Westfield Corp.

^c  Includes gains from a class action settlement payment related to foreign exchange transactions from prior years. Without these gains, the net realized and unrealized gains (losses) on investments per share would have been $2.04 and the total return would have been 22.31%.

^d  Amount is less than $0.005.

^e  Does not reflect sales charges, which would reduce return.

^f  Return assumes the reinvestment of all dividends and distributions at net asset value.

See accompanying notes to financial statements.

21

COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

FINANCIAL HIGHLIGHTS—(Continued)

	Class C
	For the Year Ended December 31,
Per Share Operating Performance:	2018			2017			2016			2015			2014
Net asset value, beginning of year		$11.92			$9.99			$10.63			$11.12			$11.23
Income (loss) from investment operations:
Net investment income (loss)a		0.12			0.12			0.11			0.08			0.22	b
Net realized and unrealized gain (loss)		(0.68	)		2.09	c		(0.21	)		(0.32	)		(0.04	)
Total from investment operations		(0.56	)		2.21			(0.10	)		(0.24	)		0.18
Less dividends and distributions to shareholders from:
Net investment income		(0.34	)		(0.28	)		(0.54	)		(0.25	)		(0.29	)
Tax return of capital		—			—			(0.00	)d		—			—
Total dividends and distributions to shareholders		(0.34	)		(0.28	)		(0.54	)		(0.25	)		(0.29	)
Net increase (decrease) in net asset value		(0.90	)		1.93			(0.64	)		(0.49	)		(0.11	)
Net asset value, end of year		$11.02			$11.92			$ 9.99			$10.63			$11.12
Total returne,f		–4.74	%		22.27	%c		–0.98	%		–2.23	%		1.60	%
Ratios/Supplemental Data:
Net assets, end of year (in millions)		$25.7			$34.6			$46.4			$65.5			$80.8
Ratios to average daily net assets:
Expenses (before expense reduction)		2.09	%		2.11	%		2.12	%		2.13	%		2.11	%
Expenses (net of expense reduction)		2.00	%		2.00	%		1.99	%		2.01	%		2.00	%
Net investment income (loss) (before expense reduction)		0.96	%		0.95	%		0.88	%		0.63	%		1.83	%
Net investment income (loss) (net of expense reduction)		1.05	%		1.06	%		1.01	%		0.75	%		1.94	%
Portfolio turnover rate		76	%		67	%		68	%		73	%		101	%

^a  Calculation based on average shares outstanding.

^b  33.3% of gross income was attributable to dividends paid by Westfield Corp.

^c  Includes gains from a class action settlement payment related to foreign exchange transactions from prior years. Without these gains, the net realized and unrealized gains (losses) on investments per share would have been $2.02 and the total return would have been 21.56%.

^d  Amount is less than $0.005.

^e  Does not reflect sales charges, which would reduce return.

^f  Return assumes the reinvestment of all dividends and distributions at net asset value.

See accompanying notes to financial statements.

22

COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

FINANCIAL HIGHLIGHTS—(Continued)

	Class I
	For the Year Ended December 31,
Per Share Operating Performance:	2018			2017			2016			2015			2014
Net asset value, beginning of year		$12.09			$10.15			$10.80			$11.29			$11.40
Income (loss) from investment operations:
Net investment income (loss)a		0.25			0.23			0.22			0.20			0.33	b
Net realized and unrealized gain (loss)		(0.69	)		2.12	c		(0.21	)		(0.33	)		(0.03	)
Total from investment operations		(0.44	)		2.35			0.01			(0.13	)		0.30
Less dividends and distributions to shareholders from:
Net investment income		(0.47	)		(0.41	)		(0.66	)		(0.36	)		(0.41	)
Tax return of capital		—			—			(0.00	)d		—			—
Total dividends and distributions to shareholders		(0.47	)		(0.41	)		(0.66	)		(0.36	)		(0.41	)
Net increase (decrease) in net asset value		(0.91	)		1.94			(0.65	)		(0.49	)		(0.11	)
Net asset value, end of year		$11.18			$12.09			$10.15			$10.80			$11.29
Total returne		–3.76	%		23.39	%c		0.00	%f		–1.18	%		2.63	%
Ratios/Supplemental Data:
Net assets, end of year (in millions)		$513.3			$553.2			$469.5			$578.8			$668.2
Ratios to average daily net assets:
Expenses (before expense reduction)		1.16	%		1.18	%		1.19	%		1.19	%		1.19	%
Expenses (net of expense reduction)		1.00	%		1.00	%		0.99	%		1.01	%		1.00	%
Net investment income (loss) (before expense reduction)		1.90	%		1.91	%		1.81	%		1.58	%		2.68	%
Net investment income (loss) (net of expense reduction)		2.06	%		2.09	%		2.01	%		1.76	%		2.87	%
Portfolio turnover rate		76	%		67	%		68	%		73	%		101	%

^a  Calculation based on average shares outstanding.

^b  33.3% of gross income was attributable to dividends paid by Westfield Corp.

^c  Includes gains from a class action settlement payment related to foreign exchange transactions from prior years. Without these gains, the net realized and unrealized gains (losses) on investments per share would have been $2.05 and the total return would have been 22.68%.

^d  Amount is less than $0.005.

^e  Return assumes the reinvestment of all dividends and distributions at net asset value.

^f  Amount is less than 0.005%.

See accompanying notes to financial statements.

23

COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

FINANCIAL HIGHLIGHTS—(Continued)

	Class R
	For the Years Ended December 31,									For the Period October 1,  2015a through December 31, 2015
Per Share Operating Performance:	2018			2017			2016
Net asset value, beginning of period		$12.12			$10.17			$10.79			$10.88
Income (loss) from investment operations:
Net investment income (loss)b		0.17			0.17			0.16			0.02
Net realized and unrealized gain (loss)		(0.67	)		2.13	c		(0.16	)		0.01
Total from investment operations		(0.50	)		2.30			—			0.03
Less dividends and distributions to shareholders from:
Net investment income		(0.40	)		(0.35	)		(0.62	)		(0.12	)
Tax return of capital		—			—			(0.00	)d		—
Total dividends and distributions to shareholders		(0.40	)		(0.35	)		(0.62	)		(0.12	)
Net increase (decrease) in net asset value		(0.90	)		1.95			(0.62	)		(0.09	)
Net asset value, end of period		$11.22			$12.12			$10.17			$10.79
Total returne		–4.25	%		22.78	%c		–0.05	%		0.26	%f
Ratios/Supplemental Data:
Net assets, end of period (in 000s)		$87.6			$192.4			$233.6			$9.9
Ratios to average daily net assets:
Expenses (before expense reduction)		1.59	%		1.61	%		1.62	%		1.63	%g
Expenses (net of expense reduction)		1.50	%		1.50	%		1.49	%		1.51	%g
Net investment income (loss) (before expense reduction)		1.35	%		1.41	%		1.34	%		0.70	%g
Net investment income (loss) (net of expense reduction)		1.44	%		1.52	%		1.47	%		0.82	%g
Portfolio turnover rate		76	%		67	%		68	%		73	%f

^a  Inception date.

^b  Calculation based on average shares outstanding.

^c  Includes gains from a class action settlement payment related to foreign exchange transactions from prior years. Without these gains, the net realized and unrealized gains (losses) on investments per share would have been $2.06 and the total return would have been 22.07%.

^d  Amount is less than $0.005.

^e  Return assumes the reinvestment of all dividends and distributions at net asset value.

^f  Not annualized.

^g  Annualized.

See accompanying notes to financial statements.

24

COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

FINANCIAL HIGHLIGHTS—(Continued)

	Class Z
	For the Year Ended December 31,									For the Period October 1,  2015a through December 31, 2015
Per Share Operating Performance:	2018			2017			2016
Net asset value, beginning of period		$12.09			$10.15			$10.79			$10.88
Income (loss) from investment operations:
Net investment income (loss)b		0.26			0.25			0.23			0.04
Net realized and unrealized gain (loss)		(0.70	)		2.10	c		(0.21	)		0.00	d
Total from investment operations		(0.44	)		2.35			0.02			0.04
Less dividends and distributions to shareholders from:
Net investment income		(0.47	)		(0.41	)		(0.66	)		(0.13	)
Tax return of capital		—			—			(0.00	)d		—
Total dividends and distributions to shareholders		(0.47	)		(0.41	)		(0.66	)		(0.13	)
Net increase (decrease) in net asset value		(0.91	)		1.94			(0.64	)		(0.09	)
Net asset value, end of period		$11.18			$12.09			$10.15			$10.79
Total returne		–3.76	%		23.39	%c		0.09	%		0.39	%f
Ratios/Supplemental Data:
Net assets, end of period (in 000s)		$951.1			$82.8			$32.7			$9.9
Ratios to average daily net assets:
Expenses (before expense reduction)		1.09	%		1.11	%		1.12	%		1.13	%g
Expenses (net of expense reduction)		1.00	%		1.00	%		0.99	%		1.01	%g
Net investment income (loss) (before expense reduction)		2.18	%		2.16	%		2.02	%		1.20	%g
Net investment income (loss) (net of expense reduction)		2.27	%		2.27	%		2.15	%		1.32	%g
Portfolio turnover rate		76	%		67	%		68	%		73	%f

^a  Inception date.

^b  Calculation based on average shares outstanding.

^c  Includes gains from a class action settlement payment related to foreign exchange transactions from prior years. Without these gains, the net realized and unrealized gains (losses) on investments per share would have been $2.03 and the total return would have been 22.68%.

^d  Amount is less than $0.005.

^e  Return assumes the reinvestment of all dividends and distributions at net asset value.

^f  Not annualized.

^g  Annualized.

See accompanying notes to financial statements.

25

COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

NOTES TO FINANCIAL STATEMENTS

Note 1. Organization and Significant Accounting Policies

Cohen & Steers International Realty Fund, Inc. (the Fund) was incorporated under the laws of the State of Maryland on November 23, 2004 and is registered under the Investment Company Act of 1940 (the 1940 Act) as a non-diversified, open-end management investment company. The Fund’s investment objective is total return. The authorized shares of the Fund are divided into seven classes designated Class A, C, F, I, R, T and Z shares. Each of the Fund’s shares has equal dividend, liquidation and voting rights (except for matters relating to distribution and shareholder servicing of such shares). Class F shares and Class T shares are currently not available for purchase.

The following is a summary of significant accounting policies consistently followed by the Fund in the preparation of its financial statements. The Fund is an investment company and, accordingly, follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board Accounting Standards Codification (ASC) Topic 946—Investment Companies. The accounting policies of the Fund are in conformity with accounting principles generally accepted in the United States of America (GAAP). The preparation of the financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.

Portfolio Valuation: Investments in securities that are listed on the New York Stock Exchange (NYSE) are valued, except as indicated below, at the last sale price reflected at the close of the NYSE on the business day as of which such value is being determined. If there has been no sale on such day, the securities are valued at the mean of the closing bid and ask prices on such day or, if no ask price is available, at the bid price.

Securities not listed on the NYSE but listed on other domestic or foreign securities exchanges (including NASDAQ) are valued in a similar manner. Securities traded on more than one securities exchange are valued at the last sale price reflected at the close of the exchange representing the principal market for such securities on the business day as of which such value is being determined. If after the close of a foreign market, but prior to the close of business on the day the securities are being valued, market conditions change significantly, certain non-U.S. equity holdings may be fair valued pursuant to procedures established by the Board of Directors.

Readily marketable securities traded in the over-the-counter (OTC) market, including listed securities whose primary market is believed by Cohen & Steers Capital Management, Inc. (the investment advisor) to be OTC, are valued on the basis of prices provided by a third-party pricing service or third-party broker-dealers when such prices are believed by the investment advisor, pursuant to delegation by the Board of Directors, to reflect the fair value of such securities.

Short-term debt securities with a maturity date of 60 days or less are valued at amortized cost, which approximates fair value. Investments in open-end mutual funds are valued at net asset value (NAV).

26

COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

NOTES TO FINANCIAL STATEMENTS—(Continued)

The policies and procedures approved by the Fund’s Board of Directors delegate authority to make fair value determinations to the investment advisor, subject to the oversight of the Board of Directors. The investment advisor has established a valuation committee (Valuation Committee) to administer, implement and oversee the fair valuation process according to the policies and procedures approved annually by the Board of Directors. Among other things, these procedures allow the Fund to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.

Securities for which market prices are unavailable, or securities for which the investment advisor determines that the bid and/or ask price or a counterparty valuation does not reflect market value, will be valued at fair value, as determined in good faith by the Valuation Committee, pursuant to procedures approved by the Fund’s Board of Directors. Circumstances in which market prices may be unavailable include, but are not limited to, when trading in a security is suspended, the exchange on which the security is traded is subject to an unscheduled close or disruption or material events occur after the close of the exchange on which the security is principally traded. In these circumstances, the Fund determines fair value in a manner that fairly reflects the market value of the security on the valuation date based on consideration of any information or factors it deems appropriate. These may include, but are not limited to, recent transactions in comparable securities, information relating to the specific security and developments in the markets.

Foreign equity fair value pricing procedures utilized by the Fund may cause certain non-U.S. equity holdings to be fair valued on the basis of fair value factors provided by a pricing service to reflect any significant market movements between the time the Fund values such securities and the earlier closing of foreign markets.

The Fund’s use of fair value pricing may cause the NAV of Fund shares to differ from the NAV that would be calculated using market quotations. Fair value pricing involves subjective judgments and it is possible that the fair value determined for a security may be materially different than the value that could be realized upon the sale of that security.

Fair value is defined as the price that the Fund would expect to receive upon the sale of an investment or expect to pay to transfer a liability in an orderly transaction with an independent buyer in the principal market or, in the absence of a principal market, the most advantageous market for the investment or liability. The hierarchy of inputs that are used in determining the fair value of the Fund’s investments is summarized below.

• Level 1—quoted prices in active markets for identical investments

• Level 2—other significant observable inputs (including quoted prices for similar investments, interest rates, credit risk, etc.)

• Level 3—significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The inputs or methodology used for valuing investments may or may not be an indication of the risk associated with those investments. Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy.

27

COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

NOTES TO FINANCIAL STATEMENTS—(Continued)

The following is a summary of the inputs used as of December 31, 2018 in valuing the Fund’s investments carried at value:

	Total		Quoted Prices in Active Markets for Identical Investments (Level 1)		Other Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Common Stock:
Australia	$	54,788,772	$	7,080,652	$	47,708,120	$	0	a
Austria		4,953,740		4,953,740		—		—
Canada		26,158,102		26,158,102		—		—
Germany		49,340,151		3,667,531		45,672,620		—
Mexico		3,443,098		3,443,098		—		—
Spain		19,880,535		2,066,426		17,814,109		—
United Kingdom		54,363,320		6,808,389		47,554,931		—
Other Countries		356,119,381		—		356,119,381		—
Short-Term Investments		4,376,795		—		4,376,795		—
Total Investments in Securitiesb	$	573,423,894	$	54,177,938	$	519,245,956	$	0

^a  BGP Holdings PLC was acquired via a spinoff and has been fair valued at $0 by the Valuation Committee, pursuant to the Fund’s fair value procedures and classified as a Level 3 security.

^b  Portfolio holdings are disclosed individually on the Schedule of Investments.

Security Transactions, Investment Income and Expense Allocations: Security transactions are recorded on trade date. Realized gains and losses on investments sold are recorded on the basis of identified cost. Interest income, which includes the amortization of premiums and accretion of discounts, is recorded on the accrual basis. Dividend income is recorded on the ex-dividend date, except for certain dividends on foreign securities, which are recorded as soon as the Fund is informed after the ex-dividend date. Income, expenses (other than expenses attributable to a specific class) and realized and unrealized gains or losses on investments are allocated to each class of shares based on its relative net assets.

Foreign Currency Translation: The books and records of the Fund are maintained in U.S. dollars. Investment securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars based upon prevailing exchange rates on the date of valuation. Purchases and sales of investment securities and income and expense items denominated in foreign currencies are translated into U.S. dollars based upon prevailing exchange rates on the respective dates of such transactions. The Fund does not isolate that portion of the results of operations resulting from fluctuations in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments.

28

COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

NOTES TO FINANCIAL STATEMENTS—(Continued)

Net realized foreign currency transaction gains or losses arise from sales of foreign currencies, (excluding gains and losses on forward foreign currency exchange contracts, which are presented separately, if any) currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund’s books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency translation gains and losses arise from changes in the values of assets and liabilities, other than investments in securities, on the date of valuation, resulting from changes in exchange rates. Pursuant to U.S. federal income tax regulations, certain foreign currency gains/losses included in realized and unrealized gains/losses are included in or are a reduction of ordinary income for federal income tax purposes.

Dividends and Distributions to Shareholders: Dividends from net investment income and capital gain distributions are determined in accordance with U.S. federal income tax regulations, which may differ from GAAP. Dividends from net investment income, if any, are declared and paid semi-annually. Net realized capital gains, unless offset by any available capital loss carryforward, are typically distributed to shareholders at least annually. Dividends and distributions to shareholders are recorded on the ex-dividend date and are automatically reinvested in full and fractional shares of the Fund based on the NAV per share at the close of business on the payable date, unless the shareholder has elected to have them paid in cash. Dividends from net investment income are subject to recharacterization for tax purposes.

Income Taxes: It is the policy of the Fund to continue to qualify as a regulated investment company (RIC), if such qualification is in the best interest of the shareholders, by complying with the requirements of Subchapter M of the Internal Revenue Code applicable to RICs, and by distributing substantially all of its taxable earnings to its shareholders. Also, in order to avoid the payment of any federal excise taxes, the Fund will distribute substantially all of its net investment income and net realized gains on a calendar year basis. Accordingly, no provision for federal income or excise tax is necessary. Dividend and interest income from holdings in non-U.S. securities is recorded net of non-U.S. taxes paid. Management has analyzed the Fund’s tax positions taken on federal and applicable state income tax returns as well as its tax positions in non-U.S. jurisdictions in which it trades for all open tax years and has concluded that as of December 31, 2018, no additional provisions for income tax are required in the Fund’s financial statements. The Fund’s tax positions for the tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service, state departments of revenue and by foreign tax authorities.

Note 2. Investment Advisory, Administration Fees and Other Transactions with Affiliates

Investment Advisory Fees: Cohen & Steers Capital Management, Inc. serves as the Fund’s investment advisor pursuant to an investment advisory agreement (the investment advisory agreement). Under the terms of the investment advisory agreement, the investment advisor provides the Fund with day-to-day investment decisions and generally manages the Fund’s investments in accordance with the stated policies of the Fund, subject to the supervision of the Board of Directors.

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COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

NOTES TO FINANCIAL STATEMENTS—(Continued)

For the services provided to the Fund, the investment advisor receives a fee, accrued daily and paid monthly, at the annual rate of 0.95% of the average daily net assets of the Fund up to and including $1.5 billion and 0.85% of the average daily net assets above $1.5 billion.

For the year ended December 31, 2018, and through June 30, 2020, the investment advisor has contractually agreed to waive its fee and/or reimburse the Fund for expenses incurred so that the Fund’s total annual operating expenses (excluding acquired fund fees and expenses, taxes and extraordinary expenses), do not exceed 1.35% for Class A shares, 2.00% for Class C shares, 1.00% for Class I shares, 1.50% for Class R shares and 1.00% for Class Z shares. This contractual agreement can be amended at any time by agreement of the Fund’s Board of Directors and the investment advisor and will terminate automatically in the event of termination of the investment advisory agreement between the investment advisor and the Fund. For the year ended December 31, 2018, fees waived and/or expenses reimbursed totaled $957,240.

Under subadvisory agreements between the investment advisor and each of Cohen & Steers Asia Limited and Cohen & Steers UK Limited (collectively, the subadvisors), affiliates of the investment advisor, the subadvisors are responsible for managing the Fund’s investments in certain non-U.S. real estate securities. For their services provided under the subadvisory agreements, the investment advisor (not the Fund) pays the subadvisors. The investment advisor allocates 50% of the investment advisory fee received from the Fund among itself and each subadvisor based on the portion of the Fund’s average daily net assets managed by the investment advisor and each subadvisor.

Administration Fees: The Fund has entered into an administration agreement with the investment advisor under which the investment advisor performs certain administrative functions for the Fund and receives a fee, accrued daily and paid monthly, at the annual rate of 0.04% of the average daily net assets of the Fund. For the year ended December 31, 2018, the Fund incurred $261,107 in fees under this administration agreement. Additionally, the Fund pays State Street Bank and Trust Company as co-administrator under a fund accounting and administration agreement.

Distribution Fees: Shares of the Fund are distributed by Cohen & Steers Securities, LLC (the distributor), an affiliated entity of the investment advisor. The Fund has adopted an amended distribution plan (the plan) pursuant to Rule 12b-1 under the 1940 Act. The plan provides that the Fund will pay the distributor a fee, accrued daily and paid monthly, at an annual rate of up to 0.25% of the average daily net assets attributable to Class A shares, up to 0.75% of the average daily net assets attributable to Class C shares and up to 0.50% of the average daily net assets attributable to Class R shares. In addition, with respect to Class R shares, such amounts may also be used to pay for services to Fund shareholders or services related to the maintenance of shareholder accounts.

There is a maximum initial sales charge of 4.50% for Class A shares. There is a contingent deferred sales charge (CDSC) of 1.00% on purchases of $1 million or more of Class A shares, which applies if redemption occurs within one year from purchase. There is a maximum CDSC of 1.00% on Class C shares, which applies if redemption occurs within one year from purchase. For the year ended December 31, 2018, the Fund has been advised that the distributor received $2,540, which represents a portion of the sales commissions paid by shareholders from the sale of Class A shares, and $30,000 and $218 of CDSC relating to redemptions of Class A and Class C shares, respectively. The distributor has advised the Fund that proceeds from the CDSC on these classes are used by the distributor to

30

COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

NOTES TO FINANCIAL STATEMENTS—(Continued)

defray its expenses related to providing distribution-related services to the Fund in connection with the sale of these classes, including payments to dealers and other financial intermediaries for selling these classes. The payment of a CDSC may result in the distributor receiving amounts greater or less than the upfront commission paid by the distributor to the financial intermediary.

Shareholder Servicing Fees: For shareholder services, the Fund pays the distributor or its affiliates a fee, accrued daily, at an annual rate of up to 0.10% of the average daily net assets of the Fund’s Class A and Class I shares and up to 0.25% of the average daily net assets of the Fund’s Class C shares. The distributor is responsible for paying qualified financial institutions for shareholder services.

Directors’ and Officers’ Fees: Certain directors and officers of the Fund are also directors, officers and/or employees of the investment advisor. The Fund does not pay compensation to directors and officers affiliated with the investment advisor except for the Chief Compliance Officer, who received compensation from the investment advisor, which was reimbursed by the Fund, in the amount of $7,615 for the year ended December 31, 2018.

Other: As of December 31, 2018, approximately 48% of the Fund’s outstanding shares were owned by shareholders investing either directly or indirectly through an account, platform or program sponsored by one financial institution. Investment and asset allocation decisions by either a direct shareholder or financial institution regarding the account, platform or program through which multiple shareholders invest may result in subscription and redemption decisions that have a significant impact on the assets, expenses and trading activities of the Fund. Such a decision may cause the Fund to sell assets at disadvantageous times or prices, and may negatively affect the Fund’s NAV and performance.

Note 3. Purchases and Sales of Securities

Purchases and sales of securities, excluding short-term investments, for the year ended December 31, 2018, totaled $489,068,792 and $521,837,919, respectively.

Note 4. Income Tax Information

The tax character of dividends paid was as follows:

	For the Year Ended December 31,
	2018		2017
Ordinary income	$	25,046,452	$	21,533,435

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COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

NOTES TO FINANCIAL STATEMENTS—(Continued)

As of December 31, 2018, the tax-basis components of accumulated earnings, the federal tax cost and net unrealized appreciation (depreciation) in value of investments held were as follows:

Cost of investments in securities for federal income tax purposes	$	587,220,957
Gross unrealized appreciation on investments	$	32,470,017
Gross unrealized depreciation on investments		(46,215,311	)
Net unrealized appreciation (depreciation) on investments	$	(13,745,294	)
Undistributed ordinary income	$	6,491,328

The Fund incurred short-term capital losses of $1,773,569 after October 31, 2018, that it has elected to treat as arising in the following year.

During the year ended December 31, 2018, the Fund had net capital loss carryforwards of $33,894,551 which expired unused. During the year ended December 31, 2018, the Fund utilized net capital loss carryforwards of $25,912,037.

As of December 31, 2018, the Fund had temporary book/tax differences primarily attributable to wash sales on portfolio securities and unrealized gains on passive foreign investment companies and permanent book/tax differences primarily attributable to the expiration of capital loss carryforward. To reflect reclassifications arising from the permanent differences, total distributable earnings/(accumulated loss) was credited $33,894,551 and paid-in-capital was charged $33,894,551. Net assets were not affected by this reclassification.

Note 5. Capital Stock

The Fund is authorized to issue 1.8 billion shares of capital stock, at a par value of $0.001 per share, classified in seven classes as follows: 250 million of Class A capital stock, 250 million of Class C capital stock, 250 million of Class F capital stock, 300 million of Class I capital stock, 250 million of Class R capital stock, 250 million of Class T capital stock and 250 million of Class Z capital stock. Class F shares and Class T shares are currently not available for purchase. The Fund’s Board of Directors may increase or decrease the number of shares of common stock that the Fund has authority to issue. Transactions in Fund shares were as follows:

	For the Year Ended December 31, 2018						For the Year Ended December 31, 2017
	Shares			Amount			Shares			Amount
Class A:
Sold		373,492		$	4,467,121			1,459,892		$	16,451,287
Issued as reinvestment of dividends		118,867			1,371,958			133,689			1,522,285
Redeemed		(1,719,699	)		(20,416,558	)		(1,799,529	)		(20,034,977	)
Net increase (decrease)		(1,227,340	)	$	(14,577,479	)		(205,948	)	$	(2,061,405	)

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COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

NOTES TO FINANCIAL STATEMENTS—(Continued)

	For the Year Ended December 31, 2018						For the Year Ended December 31, 2017
	Shares			Amount			Shares			Amount
Class C:
Sold		69,072		$	815,516			75,847		$	848,527
Issued as reinvestment of dividends		66,146			756,416			66,550			753,303
Redeemed		(709,925	)		(8,336,368	)		(1,883,854	)		(20,651,717	)
Net increase (decrease)		(574,707	)	$	(6,764,436	)		(1,741,457	)	$	(19,049,887	)
Class I:
Sold		12,311,626		$	147,128,529			10,681,441		$	117,771,945
Issued as reinvestment of dividends		1,695,059			19,660,333			1,478,517			16,925,669
Redeemed		(13,856,640	)		(162,789,391	)		(12,685,290	)		(143,037,968	)
Net increase (decrease)		150,045		$	3,999,471			(525,332	)	$	(8,340,354	)
Class R:
Sold		—		$	—			—		$	—
Issued as reinvestment of dividends		252			2,933			454			5,219
Redeemed		(8,316	)		(99,876	)		(7,557	)		(84,288	)
Net increase (decrease)		(8,064	)	$	(96,943	)		(7,103	)	$	(79,069	)
Class Z:
Sold		80,884		$	927,844			3,881		$	45,671
Issued as reinvestment of dividends		184			2,151			81			929
Redeemed		(2,850	)		(33,485	)		(343	)		(3,824	)
Net increase (decrease)		78,218		$	896,510			3,619		$	42,776

Note 6. Other Risks

Common Stock Risk: While common stocks have historically generated higher average returns than fixed income securities over the long-term, common stock has also experienced significantly more volatility in those returns, although under certain market conditions, fixed-income investments may have comparable or greater price volatility. An adverse event, such as an unfavorable earnings report, may depress the value of common stock held by the Fund. Also, the price of common stock is sensitive to general movements in the stock market. A drop in the stock market may depress the price of common stock held by the Fund.

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COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

NOTES TO FINANCIAL STATEMENTS—(Continued)

Real Estate Market Risk: Since the Fund concentrates its assets in companies engaged in the real estate industry, an investment in the Fund will be closely linked to the performance of the real estate markets. Risks of investing in real estate securities include falling property values due to increasing vacancies, declining rents resulting from economic, legal, tax, political or technological developments, lack of liquidity, limited diversification, and sensitivity to certain economic factors such as interest-rate changes and market recessions. Real estate company prices also may drop because of the failure of borrowers to pay their loans and poor management, and residential developers, in particular, could be negatively impacted by falling home prices, slower mortgage origination and rising construction costs. The risks of investing in REITs are similar to those associated with direct investments in real estate securities.

REIT Risk: In addition to the risks of securities linked to the real estate industry, REITs are subject to certain other risks related to their structure and focus. REITs are dependent upon management skills and generally may not be diversified. REITs are also subject to heavy cash flow dependency, defaults by borrowers and self-liquidation. In addition, REITs could possibly fail to (i) qualify for pass-through of income under applicable tax law, or (ii) maintain their exemptions from registration under the 1940 Act. The above factors may also adversely affect a borrower’s or a lessee’s ability to meet its obligations to the REIT. In the event of a default by a borrower or lessee, the REIT may experience delays in enforcing its rights as a mortgagee or lessor and may incur substantial costs associated with protecting its investments.

Small- and Medium-Sized Companies Risk: Real estate companies in the industry tend to be small-to medium-sized companies in relation to the equity markets as a whole. There may be less trading in a smaller company’s stock, which means that buy and sell transactions in that stock could have a larger impact on the stock’s price than is the case with larger company stocks. Smaller companies also may have fewer lines of business so that changes in any one line of business may have a greater impact on a smaller company’s stock price than is the case for a larger company. Further, smaller company stocks may perform differently in different cycles than larger company stocks. Accordingly, real estate company shares can, and at times will, perform differently than large company stocks.

Foreign (Non-U.S.) Securities Risk: The Fund directly purchases securities of foreign issuers. Risks of investing in foreign securities, include currency risks, future political and economic developments and possible imposition of foreign withholding taxes on income or proceeds payable on the securities. In addition, there may be less publicly available information about a foreign issuer than about a domestic issuer, and foreign issuers may not be subject to the same accounting, auditing and financial recordkeeping standards and requirements as domestic issuers. Moreover, securities of many foreign issuers and their markets may be less liquid and their prices more volatile than securities of comparable U.S. issuers.

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COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

NOTES TO FINANCIAL STATEMENTS—(Continued)

Foreign Currency and Currency Hedging Risk: Although the Fund will report its NAV and pay dividends in U.S. dollars, foreign securities often are purchased with and make any dividend and interest payments in foreign currencies. Therefore, the Fund’s investments in foreign securities will be subject to foreign currency risk, which means that the Fund’s NAV could decline as a result of changes in the exchange rates between foreign currencies and the U.S. dollar. Certain foreign countries may impose restrictions on the ability of issuers of foreign securities to make payment of principal, dividends and interest to investors located outside the country, due to blockage of foreign currency exchanges or otherwise. The Fund may, but is not required to, engage in various instruments that are designed to hedge the Fund’s foreign currency risks.

If the Fund were to utilize derivatives for the purpose of hedging foreign currency risks, it would be subject to risks different from, and possibly greater than, the risks associated with investing directly in traditional securities. Among the risks presented are counterparty risk, financial leverage risk, liquidity risk, OTC trading risk and tracking risk. The use of derivatives can lead to losses because of adverse movements in the price or value of the underlying asset, index or rate, which may be magnified by certain features of the derivatives.

Non-Diversification Risk: As a “non-diversified” investment company, the Fund can invest in fewer individual companies than a diversified investment company. As a result, the Fund is more susceptible to any single political, regulatory or economic occurrence and to the financial condition of individual issuers in which it invests. The Fund’s relative lack of diversity may subject investors to greater risk of loss than a fund that has a diversified portfolio.

Geopolitical Risk: Occurrence of global events similar to those in recent years, such as war, terrorist attacks, natural or environmental disasters, country instability, infectious disease epidemics, market instability, debt crises and downgrades, embargoes, tariffs, sanctions and other trade barriers and other governmental trade or market control programs, the potential exit of a country from its respective union and related geopolitical events, may result in market volatility and may have long-lasting impacts on both the U.S. and global financial markets. Additionally, those events, as well as other changes in foreign and domestic political and economic conditions, could adversely affect individual issuers or related groups of issuers, securities markets, interest rates, secondary trading, credit ratings, inflation, investor sentiment and other factors affecting the value of the Fund’s investments. The decision of the United Kingdom (UK) to exit from the European Union following the June 2016 vote on the matter (referred to as Brexit) may cause uncertainty and thus adversely impact financial results of the Fund and the global financial markets. Growing tensions, including trade disputes, between the United States and other nations, or among foreign powers, and possible diplomatic, trade or other sanctions could adversely impact the global economy, financial markets and the Fund. The strengthening or weakening of the U.S. dollar relative to other currencies may, among other things, adversely affect the Fund’s investments denominated in non-U.S. dollar currencies. It is difficult to predict when similar events affecting the U.S. or global financial markets may occur, the effects that such events may have, and the duration of those effects.

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COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

NOTES TO FINANCIAL STATEMENTS—(Continued)

Regulatory Risk: The U.S. government has proposed and adopted multiple regulations that could have a long-lasting impact on the Fund and on the mutual fund industry in general. The SEC’s final rules and amendments that modernize reporting and disclosure and to implement a Liquidity Risk Management Program, along with other potential upcoming regulations, could, among other things, restrict the Fund’s ability to engage in transactions, impact flows into the Fund and/or increase overall expenses of the Fund. In addition, the SEC, Congress, various exchanges and regulatory and self-regulatory authorities, both domestic and foreign, have undertaken reviews of the use of derivatives by registered investment companies, which could affect the nature and extent of derivatives used by the Fund. While the full extent of these regulations is still unclear, these regulations and actions may adversely affect both the Fund and the instruments in which the Fund invests and its ability to execute its investment strategy. Similarly, regulatory developments in other countries may have an unpredictable and adverse impact on the Fund.

Large Shareholder Risk: The Fund may have one or more large shareholders or a group of shareholders investing in classes of Fund shares indirectly through an account, platform or program sponsored by a financial institution. Investment and asset allocation decisions by such financial institutions regarding the account, platform or program through which multiple shareholders invest may result in subscription and redemption decisions that have a significant impact on the assets, expenses and trading activities of the Fund. Such a decision may cause the Fund to sell assets (or invest cash) at disadvantageous times or prices, increase or accelerate taxable gains or transaction costs and may negatively affect the Fund’s NAV, performance, or ability to satisfy redemptions in a timely manner.

This is not a complete list of the risks of investing in the Fund. For additional information concerning the risks of investing in the Fund, please consult the Fund’s prospectus.

Note 7. Other

In the normal course of business, the Fund enters into contracts that provide general indemnifications. The Fund’s maximum exposure under these arrangements is dependent on claims that may be made against the Fund in the future and, therefore, cannot be estimated; however, based on experience, the risk of material loss from such claims is considered remote.

Note 8. New Accounting Guidance

In August 2018, the Financial Accounting Standards Board (FASB) issued a new Accounting Standards Update (ASU) No. 2018-13, “Fair Value Measurement (Topic 820), Disclosure Framework- Changes to the Disclosure Requirements for Fair Value Measurement”. The amendments to ASU 2018-13 are intended to improve the effectiveness of disclosures in the notes to financial statements through modifications to disclosure requirements on fair value measurements. ASU 2018-13 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted. The Fund has adopted the amended disclosures permissible under the update. The adoption had no effect on the Fund’s net assets or results of operations.

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COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

NOTES TO FINANCIAL STATEMENTS—(Continued)

In August 2018, the SEC adopted amendments to Regulation S-X which are intended to facilitate the disclosure of information to investors and simplify compliance without significantly altering the information provided to investors. The amendments include eliminating the requirement to: separately state book basis components of net assets on the Statement of Assets & Liabilities; separately state the sources of distributions paid (except tax return of capital distributions must still be separately disclosed) on the Statement of Changes in Net Assets; and state the book basis amount of undistributed net investment income on the Statement of Changes in Net Assets. The Fund adopted the amendments with in the financial statements for the year ended December 31, 2018, which had no effect on the Fund’s net assets or results of operations.

Note 9. Subsequent Events

Management has evaluated events and transactions occurring after December 31, 2018 through the date that the financial statements were issued, and has determined that no additional disclosure in the financial statements is required.

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COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Shareholders of

Cohen & Steers International Realty Fund, Inc.

Opinion on the Financial Statements

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Cohen & Steers International Realty Fund, Inc. (the “Fund”) as of December 31, 2018, the related statement of operations for the year ended December 31, 2018, the statement of changes in net assets for each of the two years in the period ended December 31, 2018, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of December 31, 2018, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended December 31, 2018 and the financial highlights for each of the periods indicated therein in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Fund’s management. Our responsibility is to express an opinion on the Fund’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2018 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/ PricewaterhouseCoopers LLP

New York, New York

February 22, 2019

We have served as the auditor of one or more investment companies in the Cohen & Steers family of mutual funds since 1991.

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COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

TAX INFORMATION—2018 (Unaudited)

For the year ended December 31, 2018, for individual taxpayers, the Fund designates $10,035,141 as qualified dividend income eligible for reduced tax rates.

The Fund has elected, pursuant to section 853 of the Internal Revenue Code, to pass through foreign taxes of $1,571,975. The Fund generated net foreign source income of $21,460,249 with respect to this election.

OTHER INFORMATION

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities is available (i) without charge, upon request, by calling 800-330-7348, (ii) on our website at cohenandsteers.com or (iii) on the SEC’s website at http://www.sec.gov. In addition, the Fund’s proxy voting record for the most recent 12-month period ended June 30 is available by August 31 of each year (i) without charge, upon request, by calling 800-330-7348 or (ii) on the SEC’s website at http://www.sec.gov.

The Fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms N-Q are available (i) without charge, upon request, by calling 800-330-7348 or (ii) on the SEC’s website at http://www.sec.gov. In addition, the Forms N-Q may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 800-SEC-0330.

Please note that distributions paid by the Fund to shareholders are subject to recharacterization for tax purposes. The Fund may also pay distributions in excess of the Fund’s net investment company taxable income and net realized gains and this excess would be a tax free return of capital distributed from the Fund’s assets. The final tax treatment of all distributions is reported to shareholders on their 1099-DIV forms, which are mailed after the close of each calendar year.

Change in Portfolio Manager

Effective January 22, 2019, Luke Sullivan no longer serves as a portfolio manager of the Fund.

Change in Board of Directors

Frank K. Ross retired from the Board of Directors on December 31, 2018 pursuant to the Fund’s mandatory retirement policy.

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COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

MANAGEMENT OF THE FUND

The business and affairs of the Fund are managed under the direction of the Board of Directors. The Board of Directors approves all significant agreements between the Fund and persons or companies furnishing services to it, including the Fund’s agreements with its investment advisor, administrator, co-administrator, custodian and transfer agent. The management of the Fund’s day-to-day operations is delegated to its officers, the investment advisor, administrator and co-administrator, subject always to the investment objective and policies of the Fund and to the general supervision of the Board of Directors.

The Board of Directors and officers of the Fund and their principal occupations during at least the past five years are set forth below. The statement of additional information (SAl) includes additional information about fund directors and is available, without charge, upon request by calling 800-330-7348.

Name, Address and Year of Birth1	Position(s) Held With Fund	Term of Office2	Principal Occupation During At Least The Past 5 Years (Including Other Directorships Held)	Number of Funds Within Fund Complex Overseen by Director (Including the Fund)		Length of Time Served3
Interested Directors4
Robert H. Steers 1953	Director, Chairman	Until Next Election of Directors	Chief Executive Officer of Cohen & Steers Capital Management, Inc. (CSCM or the Advisor) and its parent, Cohen & Steers, Inc. (CNS) since 2014. Prior to that, Co-Chairman and Co-Chief Executive Officer of the Advisor since 2003 and CNS since 2004. Prior to that, Chairman of the Advisor; Vice President of Cohen & Steers Securities, LLC.		20	Since 1991
Joseph M. Harvey 1963	Director	Until Next Election of Directors	President and Chief Investment Officer of the Advisor (since 2003) and President of CNS (since 2004). Prior to that, Senior Vice President and Director of Investment Research of CSCM.		20	Since 2014

(table continued on next page)

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COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

(table continued from previous page)

Name, Address and Year of Birth1	Position(s) Held With Fund	Term of Office2	Principal Occupation During At Least The Past 5 Years (Including Other Directorships Held)	Number of Funds Within Fund Complex Overseen by Director (Including the Fund)		Length of Time Served3
Disinterested Directors
Michael G. Clark 1965	Director	Until Next Election of Directors	From 2006 to 2011, President and Chief Executive Officer of DWS Funds and Managing Director of Deutsche Asset Management.		20	Since 2011
George Grossman 1953	Director	Until Next Election of Directors	Attorney-at-law.		20	Since 1993
Dean A. Junkans 1959	Director	Until Next Election of Directors	C.F.A.; Advisor to SigFig since July, 2018: Adjunct Professor and Executive-In-Residence, Bethel University since 2015; Chief Investment Officer at Wells Fargo Private Bank from 2004 to 2014 and Chief Investment Officer of the Wealth, Brokerage and Retirement group at Wells Fargo & Company from 2011 to 2014; Former member and Chair, Claritas Advisory Committee at the CFA Institute from 2013 to 2015; Board Member and Investment Committee member, Bethel University Foundation since 2010; formerly Corporate Executive Board Member of the National Chief Investment Officers Circle, 2010 to 2015; formerly, Member of the Board of Governors of the University of Wisconsin Foundation, River Falls, 1996 to 2004; U.S. Army Veteran, Gulf War.		20	Since 2015

(table continued on next page)

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COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

(table continued from previous page)

Name, Address and Year of Birth1	Position(s) Held With Fund	Term of Office2	Principal Occupation During At Least The Past 5 Years (Including Other Directorships Held)	Number of Funds Within Fund Complex Overseen by Director (Including the Fund)	Length of Time Served3
Gerald J. Maginnis 1955	Director	Until Next Election of Directors	Philadelphia Office Managing Partner, KPMG LLP from 2006 to 2015; Partner in Charge, KPMG Pennsylvania Audit Practice from 2002 to 2008; President, Pennsylvania Institute of Certified Public Accountants (PICPA) from 2014 to 2015; member, PICPA Board of Directors from 2012 to 2016; member, Council of the American Institute of Certified Public Accountants (AICPA) from 2013 to 2017; member, Board of Trustees of AICPA Foundation since 2015.	20	Since 2015
Jane F. Magpiong 1960	Director	Until Next Election of Directors	President, Untap Potential since 2013; Senior Managing Director, TIAA-CREF, from 2011 to 2013; National Head of Wealth Management, TIAA-CREF, from 2008 to 2011; and prior to that, President, Bank of America Private Bank from 2005 to 2008.	20	Since 2015

(table continued on next page)

42

COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

(table continued from previous page)

Name, Address and Year of Birth1	Position(s) Held With Fund	Term of Office2	Principal Occupation During At Least The Past 5 Years (Including Other Directorships Held)	Number of Funds Within Fund Complex Overseen by Director (Including the Fund)	Length of Time Served3
Daphne L. Richards 1966	Director	Until Next Election of Directors	Independent Director of Cartica Management, LLC since 2015; Member of the Investment Committee of the Berkshire Taconic Community Foundation since 2015; Member of the Advisory Board of Northeast Dutchess Fund since 2016; President and CIO of Ledge Harbor Management since 2016; Formerly, worked at Bessemer Trust Company from 1999 to 2014; Prior thereto, Ms. Richards held investment positions at Frank Russell Company from 1996 to 1999, Union Bank of Switzerland from 1993 to 1996; Credit Suisse from 1990 to 1993; and Hambros International Venture Capital Fund from 1988 to 1989.	20	Since 2017

(table continued on next page)

43

COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

(table continued from previous page)

Name, Address and Year of Birth1	Position(s) Held With Fund	Term of Office2	Principal Occupation During At Least The Past 5 Years (Including Other Directorships Held)	Number of Funds Within Fund Complex Overseen by Director (Including the Fund)	Length of Time Served3
Frank K. Ross 1943	Director	—5	Visiting Professor of Accounting and Director of the Center for Accounting Education at Howard University School of Business since 2004; Board member and member of Audit Committee (Chairman from 2007 to 2012) and Human Resources and Compensation Committee Member, Pepco Holdings, Inc. (electric utility) from 2004 to 2014; Formerly, Mid-Atlantic Area Managing Partner for Assurance Services at KPMG LLP and Managing Partner of its Washington, DC offices from 1995 to 2003.	20	Since 2004
C. Edward Ward, Jr. 1946	Director	Until Next Election of Directors	Member of The Board of Trustees of Manhattan College, Riverdale, New York from 2004 to 2014. Formerly, Director of closed-end fund management for the New York Stock Exchange (the NYSE) where he worked from 1979 to 2004.	20	Since 2004

¹  The address for each director is 280 Park Avenue, New York, NY 10017.

²  On March 12, 2008, the Board of Directors adopted a mandatory retirement policy stating a Director must retire from the Board on December 31st of the year in which he or she turns 75 years of age.

³  The length of time served represents the year in which the Director was first elected or appointed to any fund in the Cohen & Steers fund complex.

⁴  “Interested person”, as defined in the 1940 Act, of the Fund because of affiliation with CSCM (Interested Directors).

⁵  Frank K. Ross retired from the Board of Directors on December 31, 2018 pursuant to the Fund’s mandatory retirement policy.

44

COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

The officers of the Fund (other than Messrs. Steers and Harvey, whose biographies are provided above), their address, their year of birth and their principal occupations for at least the past five years are set forth below.

Name, Address and Year of Birth1	Position(s) Held With Fund	Principal Occupation During At Least the  Past 5 Years	Length of Time Served2
Adam M. Derechin 1964	President and Chief Executive Officer	Chief Operating Officer of CSCM since 2003 and CNS since 2004.	Since 2005
Jon Cheigh 1972	Vice President	Executive Vice President of CSCM since 2012. Prior to that, Senior Vice President of CSCM since 2007.	Since 2007
Dana A. DeVivo 1981	Secretary and Chief Legal Officer	Senior Vice President of CSCM since 2019. Prior to that, Vice President of CSCM since 2013.	Since 2015
James Giallanza 1966	Chief Financial Officer	Executive Vice President of CSCM since 2014. Prior to that, Senior Vice President of CSCM since 2006.	Since 2006
Albert Laskaj 1977	Treasurer	Senior Vice President of CSCM since 2019. Prior to that, Vice President of CSCM since 2015. Prior to that, Director of Legg Mason & Co. since 2013.	Since 2015
Lisa D. Phelan 1968	Chief Compliance Officer	Executive Vice President of CSCM since 2015. Prior to that, Senior Vice President of CSCM since 2008. Chief Compliance Officer of CSCM, the Cohen & Steers funds, Cohen & Steers Asia Limited and CSSL since 2007, 2006, 2005 and 2004, respectively.	Since 2006

¹  The address of each officer is 280 Park Avenue, New York, NY 10017.

²  Officers serve one-year terms. The length of time served represents the year in which the officer was first elected as an officer of any fund in the Cohen & Steers fund complex. All of the officers listed above are officers of one or more of the other funds in the complex.

45

COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

Cohen & Steers Privacy Policy

Facts	What Does Cohen & Steers Do With Your Personal Information?
Why?	Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.
What?	The types of personal information we collect and share depend on the product or service you have with us. This information can include: • Social Security number and account balances • Transaction history and account transactions • Purchase history and wire transfer instructions
How?	All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons Cohen & Steers chooses to share; and whether you can limit this sharing.

Reasons we can share your personal information	Does Cohen & Steers share?	Can you limit this sharing?
For our everyday business purposes— such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or reports to credit bureaus	Yes	No
For our marketing purposes— to offer our products and services to you	Yes	No
For joint marketing with other financial companies—	No	We don’t share
For our affiliates’ everyday business purposes— information about your transactions and experiences	No	We don’t share
For our affiliates’ everyday business purposes— information about your creditworthiness	No	We don’t share
For our affiliates to market to you—	No	We don’t share
For non-affiliates to market to you—	No	We don’t share
Questions?     Call 800.330.7348

46

COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

Cohen & Steers Privacy Policy—(Continued)

Who we are
Who is providing this notice?	Cohen & Steers Capital Management, Inc., Cohen & Steers Asia Limited, Cohen & Steers Japan, LLC, Cohen & Steers UK Limited, Cohen & Steers Securities, LLC, Cohen & Steers Private Funds and Cohen & Steers Open and Closed-End Funds (collectively, Cohen & Steers).
What we do
How does Cohen & Steers protect my personal information?	To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings. We restrict access to your information to those employees who need it to perform their jobs, and also require companies that provide services on our behalf to protect your information.
How does Cohen & Steers collect my personal information?	We collect your personal information, for example, when you: • Open an account or buy securities from us • Provide account information or give us your contact information • Make deposits or withdrawals from your account We also collect your personal information from other companies.
Why can’t I limit all sharing?	Federal law gives you the right to limit only: • sharing for affiliates’ everyday business purposes—information about your creditworthiness • affiliates from using your information to market to you • sharing for non-affiliates to market to you State law and individual companies may give you additional rights to limit sharing.
Definitions
Affiliates	Companies related by common ownership or control. They can be financial and nonfinancial companies. • Cohen & Steers does not share with affiliates.
Non-affiliates	Companies not related by common ownership or control. They can be financial and nonfinancial companies. • Cohen & Steers does not share with non-affiliates.
Joint marketing	A formal agreement between non-affiliated financial companies that together market financial products or services to you. • Cohen & Steers does not jointly market.

47

COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

Cohen & Steers Investment Solutions

COHEN & STEERS REAL ASSETS FUND

• Designed for investors seeking total return and the maximization of real returns during inflationary environments by investing primarily in real assets

• Symbols: RAPAX, RAPCX, RAPIX, RAPRX, RAPZX

COHEN & STEERS GLOBAL REALTY SHARES

• Designed for investors seeking total return, investing primarily in global real estate equity securities

• Symbols: CSFAX, CSFCX, CSSPX, GRSRX, CSFZX

COHEN & STEERS REALTY SHARES

• Designed for investors seeking total return, investing primarily in U.S. real estate securities

• Symbol: CSRSX

COHEN & STEERS REAL ESTATE SECURITIES FUND

• Designed for investors seeking total return, investing primarily in U.S. real estate securities

• Symbols: CSEIX, CSCIX, CREFX, CSDIX, CIRRX, CSZIX

COHEN & STEERS INSTITUTIONAL REALTY SHARES

• Designed for institutional investors seeking total return, investing primarily in U.S. real estate securities

• Symbol: CSRIX

COHEN & STEERS INTERNATIONAL REALTY FUND

• Designed for investors seeking total return, investing primarily in international (non-U.S.) real estate securities

• Symbols: IRFAX, IRFCX, IRFIX, IRFRX, IRFZX

COHEN & STEERS GLOBAL INFRASTRUCTURE FUND

• Designed for investors seeking total return, investing primarily in global infrastructure securities

• Symbols: CSUAX, CSUCX, CSUIX, CSURX, CSUZX

COHEN & STEERS

MLP & ENERGY OPPORTUNITY FUND

• Designed for investors seeking total return, investing primarily in midstream energy master limited partnership (MLP) units and related stocks

• Symbols: MLOAX, MLOCX, MLOIX, MLORX, MLOZX

COHEN & STEERS

LOW DURATION PREFERRED AND INCOME FUND

• Designed for investors seeking high current income and capital preservation by investing in low-duration preferred and other income securities issued by U.S. and non-U.S. companies

• Symbols: LPXAX, LPXCX, LPXIX, LPXRX, LPXZX

COHEN & STEERS

PREFERRED SECURITIES AND INCOME FUND

• Designed for investors seeking total return (high current income and capital appreciation), investing primarily in preferred and debt securities issued by U.S. and non-U.S. companies

• Symbols: CPXAX, CPXCX, CPXFX, CPXIX, CPRRX, CPXZX

COHEN & STEERS DIVIDEND VALUE FUND

• Designed for investors seeking long-term growth of income and capital appreciation, investing primarily in dividend paying common stocks and preferred stocks

• Symbols: DVFAX, DVFCX, DVFIX, DVFRX, DVFZX

Distributed by Cohen & Steers Securities, LLC.

COHEN & STEERS GLOBAL REALTY MAJORS ETF

• Designed for investors who seek a relatively low-cost passive approach for investing in a portfolio of global real estate equity securities of companies in a specified index

• Symbol: GRI

Distributed by ALPS Portfolio Solutions Distributor, Inc.

ISHARES COHEN & STEERS REALTY MAJORS INDEX FUND

• Designed for investors who seek a relatively low-cost passive approach for investing in a portfolio of U.S. real estate equity securities of companies in a specified index

• Symbol: ICF

Distributed by BlackRock Investments, LLC.

Please consider the investment objectives, risks, charges and expenses of any Cohen & Steers U.S. registered open-end fund carefully before investing. A summary prospectus and prospectus containing this and other information can be obtained by calling 800-330-7348 or by visiting cohenandsteers.com. Please read the summary prospectus and prospectus carefully before investing.

48

COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

OFFICERS AND DIRECTORS

Robert H. Steers

Director and Chairman

Joseph M. Harvey

Director and Vice President

Michael G. Clark

Director

George Grossman

Director

Dean A. Junkans

Director

Gerald J. Maginnis

Director

Jane F. Magpiong

Director

Daphne L. Richards

Director

Frank K. Ross

Director

C. Edward Ward, Jr.

Director

Adam M. Derechin

President and Chief Executive Officer

Jon Cheigh

Vice President

Dana A. DeVivo

Secretary and Chief Legal Officer

James Giallanza

Chief Financial Officer

Albert Laskaj

Treasurer

Lisa D. Phelan

Chief Compliance Officer

KEY INFORMATION

Investment Advisor

Cohen & Steers Capital Management, Inc.

280 Park Avenue

New York, NY 10017

(212) 832-3232

Co-administrator and Custodian

State Street Bank and Trust Company

One Lincoln Street

Boston, MA 02111

Transfer Agent

DST Asset Manager Solutions, Inc.

P.O. Box 219953

Kansas City, MO 64121-9953

(800) 437-9912

Legal Counsel

Ropes & Gray LLP

1211 Avenue of the Americas

New York, NY 10036

Distributor

Cohen & Steers Securities, LLC

280 Park Avenue

New York, NY 10017

NASDAQ Symbol: Class	A—IRFAX
	C—IRFCX
	F—IRFFX*
	I—IRFIX
	R—IRFRX
	T—IRFTX*
	Z—IRFZX

Website: cohenandsteers.com

This report is authorized for delivery only to shareholders of Cohen & Steers International Realty Fund, Inc. unless accompanied or preceded by the delivery of a currently effective prospectus setting forth details of the Fund. Performance data quoted represent past performance. Past performance is no guarantee of future results and your investment may be worth more or less at the time you sell your shares.

* Class F and Class T shares are currently not available for purchase.

49

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Cohen & Steers

International

Realty Fund

Annual Report December 31, 2018

Beginning on January 1, 2021, as permitted by regulations adopted by the U.S. Securities and Exchange Commission, paper copies of the Fund’s annual and semi-annual shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports. Instead, the reports will be made available on the Fund’s website at www.cohenandsteers.com, and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you have already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from a Fund electronically anytime by contacting your financial intermediary or, if you are a direct investor, by signing up at www.cohenandsteers.com.

Beginning on January 1, 2019, you may elect to receive all future reports in paper free of charge. If you invest through a financial intermediary, you can contact your financial intermediary or, if you are a direct investor, you can call (800) 330-7348 to let the Fund know you wish to continue receiving paper copies of your shareholder reports. Your election to receive reports in paper will apply to all Funds held in your account if you invest through your financial intermediary or all Funds held within the fund complex if you invest directly with the Fund.

IRFAXAR

Item 2. Code of Ethics.

The registrant has adopted an Amended and Restated Code of Ethics that applies to its Principal Executive Officer and Principal Financial Officer. The Code of Ethics was in effect during the reporting period. The registrant amended the personal trading ‘blackout period’ in the Code of Ethics during the reporting period to reflect changes to the timeline for processing Fund distributions. The registrant has not granted any waiver, including an implicit waiver, from a provision of the Code of Ethics as described in Form N-CSR during the reporting period. A current copy of the Code of Ethics is available on the registrant’s website at https://www.cohenandsteers.com/assets/content/uploads/Code_of_Ethics_for_Principal_Executive_and_Principal_Financial_Officers_of_the_Funds.pdf. Upon request, a copy of the Code of Ethics can be made by calling 800-330-7348 or writing to the Secretary of the registrant, 280 Park Avenue, 10th floor, New York, NY 10017.

Item 3. Audit Committee Financial Expert.

The registrant’s board has determined that Gerald J. Maginnis and Frank K. Ross qualify as audit committee financial experts based on their years of experience in the public accounting profession. The registrant’s board has determined that Michael G. Clark qualifies as an audit committee financial expert based on his years of experience in the public accounting profession and the investment management and financial services industry. Until December 31, 2018, each of Messrs. Clark, Ross and Maginnis was a member of the board’s audit committee, and each was “independent” as such term is defined in Form N-CSR. Mr. Ross retired from the registrant’s board on December 31, 2018 pursuant to the Fund’s mandatory retirement policy and is no longer a member of the board’s audit committee. Effective January 1, 2019, each of Messrs. Clark and Maginnis is a member of the board’s audit committee, and each is independent as such term is defined in Form N-CSR.

Item 4. Principal Accountant Fees and Services.

(a) – (d) Aggregate fees billed to the registrant for the last two fiscal years ended December 31, 2018 and December 31, 2017 for professional services rendered by the registrant’s principal accountant were as follows:

	2018		2017
Audit Fees	$	50,140	$	49,160
Audit-Related Fees	$	0	$	0
Tax Fees	$	5,850	$	5,740
All Other Fees	$	0	$	0

Tax fees were billed in connection with tax compliance services, including the preparation and review of federal and state tax returns.

(e)(1)    The audit committee is required to pre-approve audit and non-audit services performed for the registrant by the principal accountant. The audit committee also is required to pre-approve non-audit services performed by the registrant’s principal accountant for the registrant’s investment advisor and any sub-advisor (not including any sub-advisor whose role is primarily portfolio management and is subcontracted with or overseen by another investment advisor) and/or to any entity controlling, controlled by or under common control with the registrant’s investment advisor that provides ongoing services to the registrant, if the engagement for services relates directly to the operations and financial reporting of the registrant.

The audit committee may delegate pre-approval authority to one or more of its members who are independent members of the board of directors of the registrant. The member or members to whom such authority is delegated shall report any pre-approval decisions to the audit committee at its next scheduled meeting. The audit committee may not delegate its responsibility to pre-approve services to be performed by the registrant’s principal accountant to the investment advisor.

(e)(2)    No services included in (b) – (d) above were approved by the audit committee pursuant to paragraphs (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

(f)         Not applicable.

(g)        For the fiscal years ended December 31, 2018 and December 31, 2017, the aggregate fees billed by the registrant’s principal accountant for non-audit services rendered to the registrant and for non-audit services rendered to the registrant’s investment advisor (not including any sub-advisor whose role is primarily portfolio management and is subcontracted with or overseen by another investment advisor) and/or to any entity controlling, controlled by or under common control with the registrant’s investment advisor that provides ongoing services to the registrant were:

	2018		2017
Registrant	$	5,850	$	5,740
Investment Advisor	$	0	$	0

(h)        The registrant’s audit committee considered whether the provision of non-audit services that were rendered to the registrant’s investment advisor (not including any sub-advisor whose role is primarily portfolio management and is subcontracted with or overseen by another investment advisor) and/or to any entity controlling, controlled by or under common control with the registrant’s investment advisor that provides ongoing services to the registrant that were not required to be pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X was compatible with maintaining the principal accountant’s independence.

Item 5. Audit Committee of Listed Registrants.

Not applicable.

Item 6. Schedule of Investments.

Included in Item 1 above.

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

Item 8. Portfolio Managers of Closed-End Investment Companies.

Not applicable.

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

Item 10. Submission of Matters to a Vote of Security Holders.

None.

Item 11. Controls and Procedures.

(a) The registrant’s principal executive officer and principal financial officer have concluded that the registrant’s disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the registrant in this Form N-CSR was recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms, based upon such officers’ evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.

(b) There were no changes in the registrant’s internal control over financial reporting that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

Not applicable.

Item 13. Exhibits.

(a)(1) Incorporated by reference to registrant’s Post-Effective Amendment No. 24 to its Registration Statement on Form N-1A filed with the Securities and Exchange Commission on April 27, 2018 (Accession No. 0001193125-18-139311).

(a)(2) Certifications of principal executive officer and principal financial officer as required by Rule 30a-2(a) under the Investment Company Act of 1940.

(a)(3) Not applicable.

(a)(4) Not applicable.

(b) Certifications of chief executive officer and chief financial officer as required by Rule 30a- 2(b) under the Investment Company Act of 1940.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

COHEN & STEERS INTERNATIONAL REALTY FUND, INC.

By:	/s/ Adam M. Derechin
	Name:   Adam M. Derechin Title:    President and Chief Executive Officer
Date:	March 7, 2019

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:	/s/ Adam M. Derechin
	Name:   Adam M. Derechin Title:    President and Chief Executive Officer          (Principal Executive Officer)
By:	/s/ James Giallanza
	Name:   James Giallanza Title:    Chief Financial Officer          (Principal Financial Officer)
Date: March 7, 2019