In New York City, condos and co-ops may look similar from the outside, but the ownership structures are very different.
Cooperatives, or co-ops, are a hallmark of classic New York living. Instead of owning real property, buyers purchase shares in a corporation that owns the building, granting them a proprietary lease for their apartment. Co-ops often feature elegant prewar architecture, a strong sense of community, and careful board oversight - offering privacy, stability, and exclusivity that appeal to many long-term residents.
Condominiums offer a more modern and flexible form of ownership. Buyers hold the title to their individual unit, allowing greater freedom to sell, rent, or renovate with fewer restrictions. Many condo buildings feature full-service amenities, contemporary finishes, and streamlined approvals - appealing to both primary residents and investors seeking ease, privacy, and long-term value.
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