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Homeowners insurance vs. co-op insurance. When you purchase a home or condo, you own the structure with a deed to prove it. ... A co-op is more like a rental agreement, where you are the tenant ...
Apartment buildings and multiple-family housing make up a more significant share of the housing stock in the New York City area than in most other U.S. cities as over 75% of apartment buildings in NYC are co-ops. Reasons suggested to explain why cooperatives are relatively more common than condominiums in the New York City area are: [38]
A condop, a portmanteau of the words condominium and cooperative (or "co-op"), is a co-op inside a condo. [3] Stepping back, condominium owners actually hold title to a piece of real estate. Co-op owners are actually shareholder-tenants with shares in and a long-term lease from the co-op corporation. In all co-ops, a corporation owns the building.
To buy a home in New York, you've got to add property taxes, maintenance fees and homeowner's insurance to the cost you're considering. When these things... Owning vs. Renting in 5 Cities in New ...
27 West 67th Street is a cooperative apartment building located near Lincoln Square in the Upper West Side neighborhood of Manhattan, New York City.Completed late in 1902 and opened early the next year, it was designed by an artist named Henry Ward Ranger and financed by an association of his fellow artists.
Amalgamated Dwellings (1930), in Cooperative Village, Lower East Side of Manhattan, New York City, 236 units; Hillman Housing Corporation (1947–1950), in Cooperative Village, 807 units; Under the Housing Development Fund Corporation. 566 W. 159th Street, Washington Heights; 1007-09 E. 174th Street, the Bronx; Lenox Court, East Harlem
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The facility was built as an owner-occupied co-op with its initial construction subsidized by New York City. The early development of the project, led by a team of civic leaders headed by banker David Rockefeller and Columbia University president Grayson Kirk, later formed the basis of the Mitchell-Lama law, which led to many similar co-operative housing facilities, most in NYC and a small ...
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