Tip #7: Condo vs Co-Op vs Condop

After exploring Condos, Co-op and Condops in our previous articles, we now have a better idea of the advantages and disadvantages of all three ownership structures.

So which type of property is best for you?

Without hesitation, I can firmly state this decision is very subjective and depends on the goals of the purchases moving forward.

Lets briefly recap all three properties again:

Condo

A type of structure that gives the purchaser title to the Apartment and other common elements of the building after purchase. https://garayrealestate.com/tips-of-the-day/tip-2-pros-cons-of-a-condo/

Co-op

The purchaser owns shares in the Co-op Corporation. The buyer does not hold title to the actual property. https://garayrealestate.com/tips-of-the-day/pros-cons-of-a-co-op/

Condop

An underlying Co-op with a Condo component structured into the space. These buildings provide Co-op building structure with Condo building rules. https://garayrealestate.com/tips-of-the-day/pros-cons-of-a-condop/

For additional information about the Apartment purchasing process in Manhattan or Brooklyn, please contact us at garayrealestate@gmail.com