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Home › Resource Centers › Resources for Renters › Glossary of NYC Real-Estate Terms You Might See On Your Rental Lease
Occasionally a NYC apartment for rent can be found as a sublet in a Condop building. The legal definition of a Condop is not simply a co-op that operates under the looser rules of a typical condo (no board interview; owners can sublet without restriction). Rather, a Condop refers to a building that is part residential and part commercial, in which the residential apartments—for example, the one which you may be interested in subletting--are part of a cooperative (with all of the usual pros and cons of co-op subleasing), and the commercial units are sold outright to developers, similar to how a condo works.