We frequently get asked the question “What is the difference between condos versus co-ops?” We have broken down the major differences here. Are you thinking about buying, selling or investing in NYC? Reach out today and we would be happy to assist!

Condos:

• Generally more expensive
• You’re purchasing real property
• Typically only 10% down
• You’re able to rent out
• No interview required and approval is quicker
• Common charges and taxes are paid separately

Co-ops:

• Generally less expensive
• You’re purchasing shares of a corporation
• Typically starts at 20% down
• Subleasing requires board approval
• More detailed board package is required as well as an interview
• Taxes are included in the maintenance fees