How does co-op homeownership, a form of shared equity, differ from owning a condominium unit?
When you own a co-op, you do not actually own the rooms that comprise your unit. You own shares in the overall ownership of the building(s). These shares are prorated on the total square footage of your unit. In condominium ownership, you actually own the interior space of the rooms that comprise your unit, while the condo association owns the land, public areas and infrastructure of the building(s). More information on cooperative homeownership is available on our website.
