Deciding Between Co-Ops and Condos in New York City: A Comprehensive Guide
Key Takeaways Ownership Structure: Co-ops involve purchasing shares in a corporation, while condos entail owning real property. Financial Considerations: Co-ops generally have lower purchase prices but stricter financial requirements; condos offer more flexibility but at higher costs. Approval Processes: Co-ops require board approval, which can be rigorous; condos have a more straightforward purchase process. Subletting…