Sunday, November 27, 2005

How Condops Differ From Condops - New York Times
You learn something new every day. Nancy Levy just provided me with this neologism: "condops." Check it out.

Arthur I. Weinstein, a Manhattan lawyer who is vice president of the Council of New York Cooperatives and Condominiums, said that while the term condop was originally coined to describe a legal combination of co-op and condo, the term now seems to have morphed into a way of describing - usually for marketing purposes - a relatively unusual type of co-op. When the term condop is used in the legal sense, Mr. Weinstein said, it describes a building (or a complex of buildings) that is part co-op and part condo. Usually, the entire residential portion of the building (which contains co-op apartments) is legally one condo unit, while the commercial and professional spaces are owned as one or more additional condo units, he said.

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