What does condop mean in NYC?

A true condop, he said, is a condominium building that has separate commercial and residential units, with the residential units controlled by a co-op corporation. The separate commercial units are typically retained or sold separately by the developer and can include retail space, office space and a parking garage.

What are the pros and cons of buying a co-op?

Pros & Cons

• The main advantage of purchasing a co-op is that they are often cheaper to buy than a condo.
• Co-ops are typically more financially stable.
• The instance of foreclosure is rare.
• Co-ops are typically going to be a higher owner occupancy rate.
• You can typically get better square footage for your money.

Can I get kicked out of my coop?

If you are a tenant in a co-op, you can be evicted. The board can start a non-payment proceeding or a holdover proceeding against you in Housing Court. Co-op boards have a lot of freedom in deciding how to run their buildings and whether to evict a tenant for objectionable conduct.

How do you fight a co-op board?

Start by filing a complaint with the New York City Commission on Human Rights, as housing discrimination is covered by the city’s human rights law. You could also file a complaint with the state Division of Human Rights. Both agencies would investigate your claim, and you could be awarded damages.

Can my boyfriend move into my co-op?

A. In all likelihood, your girlfriend is entitled to move in with you and neither your landlord (the apartment owner/shareholder) nor the co-op could legally evict her without cause.

What do owners in co-op buildings actually own?

A co-op owner has an interest or share in the entire building and a contract or lease that allows the owner to occupy a unit. While a condo owner owns a unit, a co-op owner does not own the unit. Co-ops are collectively owned and managed by their residents, who own shares in a nonprofit corporation.