Co-op ownership represents an interest (i.e. stock) in realty; condo ownership is actual ownership of realty. Price differences reflect demographic and geographic distinctions. You decide whatâ€™s best for you.
The terms "co-op" and "'cooperative" are short for "cooperative housing project".
In a cooperative the building containing the individual but connected by common wall residential units or apartments is owned by a "cooperative housing corporation".
"In a condominium, each unit owner owns an individual apartment in fee simple. In addition, the buyer owns an undivided interest in the common elements such as the exterior walls, roof, pool and other recreational areas."
Both condo and co-op owners have monthly maintenance fees to pay.