One of the most common questions buyers ask is the difference between a co-op and a condo in New York City. 

A co-op (cooperative) is a corporation that owns the building. When you buy a co-op, you are purchasing shares in the corporation and receiving a proprietary lease to live in your apartment. Co-ops often have stricter rules, financial requirements, and a board approval process. 

A condo (condominium) is real property. When you buy a condo, you own the apartment itself. Condos typically allow more flexibility with financing, renting, and resale, making them popular with international buyers and investors. 

Whether a co-op or condo is better depends on your goals. 

Co-ops are often less expensive than condos. However, they typically require higher down payments and have stricter board approval. Many buyers are drawn to co-ops for their neighborly and community-oriented lifestyle.  

Condos offer more flexibility, easier resale, and fewer restrictions on renting. They tend to be more expensive but are often preferred by buyers who want long-term flexibility. 

There is no universal “better” option — choosing between a co-op and a condo depends on lifestyle, finances, and long-term plans. 

Down payment requirements in NYC vary by property type: 

In addition to the down payment, many co-op buildings require buyers to have post-closing liquid reserves, often equal to 1–2 years of housing costs (monthly maintenance fees).  

Closing timelines depend on the type of property: 

Buyer closing costs vary based on financing and property type. 

Typical buyer costs include: 

Co-op buyers usually have lower closing costs than condo buyers. 

Seller closing costs typically include: 

Seller closing costs are generally higher for co-ops than condos. 

Expert Market Knowledge 

New York City real estate is highly localized. Pricing, inventory, and demand can vary significantly by neighborhood, building, and even individual line. From uptown to downtown and from the east side to the west side, I cover every corner of Manhattan and Brooklyn and every residential real estate type, including co-ops, condos, townhouses, new development, and investment properties, providing clients with informed, comprehensive market insight. 

Access to Off-Market and Early Opportunities 

With over 17 years of experience in the New York City real estate market and the global reach of Sotheby’s International Realty, I offer clients a distinct advantage in accessing the most compelling opportunities. Through long-standing relationships and a trusted network of top brokers across Manhattan and Brooklyn, I am often aware of properties before they’ve been made public. 

Many of the most desirable properties in New York City are sold off-market or quietly circulated within broker-only networks. With over 17 years in the industry and the global reach of Sotheby’s International Realty, I provide clients with early access to upcoming inventory and discreet opportunities. This insider market intelligence is especially valuable in competitive and luxury segments, where timing, discretion, and trusted relationships are essential. 

Why Clients Trust Me as Their Real Estate Advisor 

New York City real estate is a sophisticated and ever-evolving market, where success depends on understanding the details beneath the surface. Over the years, I have built a trusted network of attorneys, lenders, appraisers, and industry experts whom I work with closely on every transaction. From structuring strong offers and negotiating favorable terms to addressing contingencies and board considerations, nothing is left to chance. By overseeing the process from start to finish and surrounding my clients with the right experts at every step, I create a seamless experience that allows them to move forward with confidence. My role is not only to guide the transaction, but to protect my clients’ interests and ensure each deal reaches the finish line smoothly and successfully.  

I’m here to help you navigate the next chapter life takes you.