Manhattan Condop Buildings
Real estate has contributed many new words, acronyms and portmanteaus to the English language, and “condop” is one of these. More specifically, condops are a hybrid type of apartment, combining condominium and co-op. Where Manhattan condo residents own their own homes and co-op dwellers own shares in the company that owns and operates their co-op, condop residents enjoy the best of both. Manhattan condop residents own shares in their buildings -- which typically feature retail on the lower floors and apartments above -- but enjoy greater flexibility than they would have in a classic Manhattan co-op. This makes financing and subletting notably easier for condop owners than co-op owners, while still offering the security of a co-op living arrangement -- and it makes condop a real estate word worth knowing.
