Understanding Cooperative Buildings in New York City

Cooperative buildings in New York City, known as co-ops, are owned by a single corporation and residents or commercial owners own a share in that corporation, similar to a public company. The residential or commercial shareholder then has a proprietary lease on their own unit, be it an apartment or the retail ground floor space or a garage.

There are co-ops that are also Condominiums. (For more information on condos, see Understanding Condominium Ownership in New York City.) A


Sales in co-op