Co-op Vs Condo | Co-op Apartments NYC

In 1882, the developers of the Rembrandt declared they were seeking “people of means and good social standing,” as owners. The building, at 152 West 57th Street, was New York City’s first co-op, a form of vertical living that quickly became ubiquitous in the city and still makes up a good chunk of its housing stock. But the age of the co-op is well and truly over: Since 2000, developers have moved to create a mere 75 new co-op projects, and no more than seven total in any given year, according to a new analysis by The Real Deal.

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