Condop

A condop layers the two ownership forms: the building is legally a condominium — typically with the residential portion as one condo unit owned by a cooperative corporation, and commercial or professional space as separate condo units — so residents hold co-op shares while the building's ground floor trades and finances as condominium property. The hybrid usually exists for tax and structuring reasons rooted in the rules governing co-op income.

The label gets used loosely in marketing for co-ops with condo-style rules, which is exactly why records matter: the recorded declaration and the offering plan establish what the structure legally is. For analysis, condops combine both forms' data shapes — a condo division at the building level, co-op opacity within the residential unit.