Why do condos sell for more than co-ops?

Q:  Why do condos sell for more than co-ops?

A:  If a co-op and condo apartment have identical interior and exterior amenities and the only difference was their property type, the condo would sell for more.  In a co-op, the board has more control over your rights as a homeowner than a condo association and therefore more restrictions allow condos to achieve higher prices.  Manhattan has, for example, three times as many co-ops as condos.  This does not mean that one type is better than another, but it does mean that they represent different markets.

Filed Under: Buying