It varies alot depending on which area of Sheepshead Bay you speak of. From a construction perspective, certainly condos are on the rise throughout the area (from Knapp Street to Sheepshead Bay Road). However, due to overbuilding and a bad economy many units have remained unsold and are now available to rent with an option to buy.
Most buyers who contact us prefer to see co-ops for the above reasons. The way it works is generally that condos are more expensive in price, but the maintenance (known as common charges) are typically much lower. However, with co-ops the actual price of the unit is much lower even though the maintenance is higher. But, you are a shareholder and don't own the unit.
Bonnie Chernin & David Rogoff
Fillmore Real Estate
2926 Avenue J
Brooklyn, NY 11210
David Mobile: 917-593-4068
Bonnie Mobile: 646-318-5031
If you mean that area, there are actually more Coops then condos there, as in general in NY. pls. check our website and other real estate agents for good deals in your area. If u let me know what your budget is, i can get you an apartment. If u want to live in the apartment, its better to get a coop, as coops are cheaper to buy then condos by about 20-25%. also, many people prefer them, as you will have other owners living next to you, caring about their property, rather then short-term renters, who might not take as much care of it. condos are mostly newer, more expensive and not necessarily in a better location nor better built.
Its all up to you. and your bank account and taste.
I hope this helps!