Condo Vs Co-Op, Which is Better?

NYC real estate is tricky to navigate, even for New York natives. Living in a condo is not for everyone just as living in a co-op isn’t either. While the two can be similar in size and look, they are very different. Essentially, Condos are places that you actually own whereas, co-ops are investments in the corporation who owns the building and you are buying shares which allows you to lease. Here is a detailed list that will help you decide which is best for you:


  • Not as prominent in NYC as co-ops
  • Own your own unit
  • Typically more expensive than a co-op
  • Easier to sell
  • Access to amenities
  • Similar to buying a home, but in apartment form
  • Board tends to be more hands-off
  • Cannot be evicted easily
  • Property taxes are not included
  • Typically a newer building
  • Potential access to amenities (dependent on individual building)


  • Will need to interview with the board to be accepted as a resident
  • All your neighbours have been screened by the board
  • Access to amenities
  • Majority of the apartments in NYC
  • Do not own the apartment
  • Can be evicted if not following the rules
  • Monthly maintenance fee
  • Property taxes are included
  • Required to pay for special projects (i.e. new elevator), price depending on the amount of shares you have
  • Down payment can be anywhere from 10%-50%
  • Typically an older building
  • Strict polices about sub-letting

Quote from alex- need to get (not sure if he is getting my emails)

Do not forget to contact IPG when looking for your next apartment!

Written by: Lindsay Craven