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Definition: Co-op

Any true "Sex and the City" fanatic can probably tell me which SATC character was on the board of a co-op (and I challenge you to comment below). But can you tell me what exactly a co-op is? Probably not. Co-ops, or housing cooperatives, which originated in the late 1800s, are creatures of New York, although they do exist elsewhere. In essence, a co-op is a legal entity from which you actually buy a share of your building rather than your apartment explicitly. Essentially, you are buying a long-term lease and the right to sole possession of your apartment indefinitely.

Much like a social club, co-op owners, through their board of directors, choose who their neighbors are. The board must approve of all new tenants, transactions, and sales before a new person can move in, and it acts in other ways much like a landlord. Co-ops are generally cheaper than condos, have lower closing costs, and protect you from troublesome neighbors, but they're difficult to sell, harder to rent, and have high monthly maintenance fees.


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RosaDilia RosaDilia 9 years
emalove emalove 9 years
Easy question!
ispyemo ispyemo 9 years
it totally miranda with out it she would have ever met dr. robert leeds
britt2121 britt2121 9 years
Miranda, my favorite.
siúcra-gaelach siúcra-gaelach 9 years
also, carrie uttered those tragic words: "my building's going co-op." "did ya get the tomatoes?" :)
jennaboa jennaboa 9 years
Miranda. :) I miss SATC.
Twinbaby Twinbaby 9 years
MamaD MamaD 9 years
Yup, it was Miranda!
cokerad cokerad 9 years
Miranda was! And she dated the hot doctor afterwards! Then broke up with him and moved into a house in Brooklyn!
Swp2885 Swp2885 9 years
miranda was on a co-op board, i love the episode where she interviews the doctor hillarious
moni_LA moni_LA 9 years
Kirsten Dunst's SoHo Co-op
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