What is the difference between a condo and a coop?

Coop owners pay monthly maintenance to the building corporation for items such as the expenses of maintaining and operating the building property, property taxes and the underlying mortgage on the building (if any). When you buy a condo, you buy an individual parcel of real property, like a house or townhouse. read more

By Benny L. Kass April 26, 2013 The Watergate is probably the most famous — or infamous — cooperative housing complex in the District. read more

Differences between Condo and Coops Day to day life and activities of dwellers in condominiums or coops are same and it is hard to tell the difference from the outset. In both, a dweller has to pay monthly maintenance fees which vary depending upon the facilities provided. read more

Unlike a coop building, there is no underlying mortgage on a condo building. Generally, a condo has a higher value than a comparably sized coop; however, a condo buyer has additional closing costs for title insurance and mortgage recording taxes. read more