Co-op versus condo: What is different and why is it important?
To understand the disparity between the size of condominiums and cooperatives, it is important to know the difference between the two. A condo looks a lot like an apartment. Where they are different is the property: an apartment is rented while a condo is owned. However, both are typically managed by a real estate firm and often share common spaces and amenities in a larger building.
Because a condo itself is wholly owned by the purchaser, the area must legally be included in the registration. Even resales must almost always explicitly report the square footage of the apartment being sold in the offering plan.
Condo VS. Co-op: Know The diffrences before buying one. Read this article to learn the simple system.
https://www.inrealestate.nyc/post/co-op-versus-condo-what-is-different-and-why-is-it-important
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