A condop is a condominium building where the residential portion is owned by a cooperative corporation. Individual residents hold co-op shares in the residential unit, while commercial spaces are owned separately as condo units. This hybrid structure means your apartment behaves like a co-op for daily living (maintenance, board, proprietary lease) but exists within a broader condo legal framework.
From the seller playbook: Selling a Condop in NYC: Hybrid Structure, Board Rules, and Buyer Confusion
This is general information, not legal, tax or accounting advice. Every situation is different. Talk to a licensed attorney, accountant or tax professional before you act.
More questions on this topic
List for free, or go full service for 1%.
Use the playbook yourself, or let us run pricing, marketing and negotiation.