What exactly is an office condominium?
An office condominium is a unit located within a larger office building that has been converted to a condominium pursuant to applicable state law. Each individual or business owns and operates its condominium unit in fee. Each condo has its own real estate tax identification number, and each unit owner is responsible for paying all real estate taxes assessed to the unit. As with residential condominiums, common spaces such as the lobby, hallways and elevators are owned as tenants-in-common with the other unit owners.
