Based in New York, NY, Barbara Katsos practices estate planning, family, and real estate law through the Law Offices of Barbara H. Katsos. As part of her real estate services, Barbara Katsos covers everything from property purchasing to co-ops and condominiums.

1. THE DIFFERENCES BETWEEN
CO-OPS AND CONDOMINIUMS

2. INTRODUCTION
• Based in New York, NY, Barbara Katsos practices estate planning,
family, and real estate law through the Law Offices of Barbara H.
Katsos. As part of her real estate services, Barbara Katsos covers
everything from property purchasing to co-ops and
condominiums.
Although condos and co-ops may seem like the same property
type, they are actually very different. The main difference
between the two relates to what a person owns when they
purchase each property type. When purchasing a co-op, or
cooperative, people are buying a share of the entire building. This
share is determined by the size of the unit they will be living in,
the building’s height, and some other amenities. New owners
must be voted in by a co-op board and are responsible for
paying a percentage of maintenance costs for the building and
paying a portion of property taxes for the entire building.

3. CO-OPS AND CONDOMINIUMS
• People who purchase a condo, on the other hand, are
buying their actual home along with a share of the
building’s common areas, such as garages and lobbies.
After buying a condo, homeowners are expected to
pay monthly or quarterly maintenance fees to cover
routine maintenance around the building and
individual property taxes for their home. Most condos
cost more than a co-op; however, they allow owners
the flexibility to lease or rent out their condo, a luxury
that is difficult to obtain as a co-op owner.