What Is a Condop? How NYC's Condo-Co-op Hybrid Works
You'll see "condop" on NYC listings, and it doesn't always mean the same thing. Here's how the structure actually works, according to the offering plans that create it, and what it means for board approval, closing costs and your monthly payment.
Browse NYC listings long enough and you'll see "condop." It sounds like a compromise between a condo and a co-op, and in a way it is. But what you're buying is almost always a co-op apartment. Knowing why helps you set expectations about board approval, financing and closing costs.
The Short Version
- A condop is a building that's legally a condominium with just a few big units, usually one residential unit and one or more commercial units.
- The residential unit is owned by a co-op corporation. Residents buy shares in that co-op, just like in any co-op.
- The commercial space, often stores on the ground floor, is owned separately.
- For buyers, a condop works mostly like a co-op: board approval, maintenance payments and co-op financing.
- Some listings use "condop" loosely for a co-op with condo-like rules. Always check the actual structure.
How a Condop Is Built
Here's what the structure looks like in an actual offering plan. The Renaissance at 130 Malcolm X Boulevard in Harlem was set up as a two-unit condominium: one "Residential Unit" holding all 240 apartments, and one "Commercial Unit." Its co-op offering plan is titled "A Plan for Cooperative Ownership of the Residential Unit of the Renaissance Condominium."
A co-op corporation, which the plan calls the Apartment Corporation, owns the residential unit. Buyers purchase shares in that corporation and get a lease on their apartment. Bradhurst Court at 300 West 145th Street was set up the same way, with its 127 co-op apartments in the residential unit of the Bradhurst Court Condominium.
So there are two layers of governance:
- A co-op board runs the residential side: approving buyers, setting maintenance and managing the apartments.
- A condo board of managers runs the shared parts of the whole building. At The Renaissance, the co-op appoints two representatives to that board and the commercial owner appoints one.
Why Would a Building Be Set Up This Way?
- To separate the stores from the homes. The commercial owner can lease, sell or renovate the retail space without needing the co-op, and the co-op isn't the landlord for the stores.
- Taxes. Co-ops have historically had to keep most of their income coming from residents to keep certain tax benefits. Putting the stores in a separate condo unit keeps that rent out of the co-op.
- Financing. Each unit can be financed on its own. At The Renaissance, the residential unit carried mortgages from city housing agencies, while the developer kept the commercial unit.
Condo vs. Condop vs. Co-op
| Condo | Condop | Co-op | |
|---|---|---|---|
| What you own | Your apartment, by deed | Shares in the co-op that owns the residential unit | Shares in the co-op that owns the building |
| Board approval | Usually a right of first refusal | Co-op board approval, unless the bylaws say otherwise | Full application and interview |
| Monthly payment | Common charges plus your own tax bill | Maintenance, which includes the co-op's share of condo common charges | Maintenance, including taxes |
| Mortgage recording tax | Yes | Generally no (it's a co-op loan) | No |
| Who runs the stores | Varies | A separate commercial unit owner | The co-op is usually the landlord |
At The Renaissance, the plan says your monthly maintenance covers your share of running the residential unit and the co-op's share of the condominium's common charges. You see one bill, but two budgets feed into it.
"Condop" as a Marketing Term
Sometimes "condop" just means a co-op with condo-like rules: easier subletting, a lower down payment, or a light-touch board review. Those are perks worth having, but they come from the co-op's bylaws and policies, which a board can change. They don't come from the building's legal structure.
Tip: ask the listing agent which kind of "condop" it is. If it's really a co-op with friendly rules, ask for the house rules and the sublet and approval policies in writing.
What to Check Before You Buy
- The offering plan's title and structure. If you're buying shares, it's a co-op plan, even if the building is also a condominium.
- Who controls the condo board. How many seats does the co-op have compared with the commercial owner?
- How costs are split between the residential and commercial units, usually by common interest percentage.
- The co-op's own rules: approval, down payment, sublets, pets and any flip tax.
- What the commercial unit can be used for. A restaurant or nightlife use downstairs can affect your daily life.
Search "cooperative ownership of the residential unit" on The Condo Book Project to find more condop plans. The Condo Buyer's Guide compares condos and co-ops in more detail, and what is a condo offering plan explains the documents.
Common Questions
What is a condop in NYC?
A building legally set up as a condominium, where the residential part is one condo unit owned by a co-op corporation. Residents buy co-op shares, and the commercial space is owned separately.
Is a condop a condo or a co-op?
For a buyer, it's usually a co-op. You buy shares and a lease, pay maintenance, and generally need co-op board approval. The building as a whole is a condominium.
Do condops require board approval?
Usually, yes, because you're buying into a co-op. Some condops have lighter rules, but that depends on the co-op's bylaws, not on the condop structure.
Are closing costs lower in a condop?
Typically they're closer to a co-op's: co-op loans don't pay the mortgage recording tax. Transfer taxes and the mansion tax still apply. Your attorney can confirm costs for a specific building.
Why do some condops have condo rules?
Some co-ops adopt condo-like policies on subletting or financing to attract buyers. Those come from the co-op's own bylaws and rules, and the board can change them.
Where this comes from: the co-op offering plans for The Renaissance (130 Malcolm X Boulevard) and Bradhurst Court (300 West 145th Street), each a plan for cooperative ownership of the residential unit of a condominium. This is general information, not legal or tax advice. Updated October 2026.