newyork.localmean.com/co-op
Co-op
KOH-op
Local meaning
An apartment in a corporation-owned building where the resident buys shares and receives a proprietary lease rather than owning the unit as separate real property.
Co-ops are especially common in New York City. Buyers usually undergo financial review and board approval, pay monthly maintenance rather than only common charges, and follow building rules set by the cooperative corporation. Financing, subletting, renovation, and resale policies vary widely by building.
Example in context
- “The apartment is a co-op, so the purchase includes a board package and interview.”
How it is used
A major New York housing form also used elsewhere in the United States.
neutral, real-estate-specific
apartment listings, home buying, board applications, building finance
A major New York housing form also used elsewhere in the United States.
Buying co-op shares is not identical to buying a condominium unit. Review the proprietary lease, financial statements, board rules, fees, and lender requirements.
Spelling and scope
A major New York housing form also used elsewhere in the United States.
- Search forms
co-op apartment NYC meaningNew York cooperative apartmentcoop vs condo NYC
LocalMean keeps common search spellings discoverable without claiming that every borough, community, or generation uses one written form.
Frequently asked questions
Do you own a co-op apartment?
You own shares in the cooperative corporation and receive a proprietary lease giving you the right to occupy a particular apartment.
Why are co-op boards important?
Boards commonly review purchasers, finances, renovations, sublets, and compliance with the corporation’s rules.
Read next
All words →Evidence and further reading
These sources support the regional association, dictionary sense, or broader spread. The entry remains open to correction from New York speakers and qualified reviewers.
- Cooperative and Condominium Property Tax AbatementNew York City Department of Finance
Official New York City context for cooperative and condominium property structures, eligibility, and ownership terminology.
- The ABCs of HousingNew York City Department of Housing Preservation and Development
Official New York City housing guidance and terminology for apartment buildings, owners, tenants, maintenance, and building services.