What is co-op complex?

Answer 1

A co-op complex, or cooperative housing complex, is a residential building or community where the residents collectively own shares in the cooperative corporation that manages the property. Instead of owning individual units, residents own shares that entitle them to occupy a specific unit and participate in the governance of the complex. This arrangement often fosters a sense of community and shared responsibility among residents, but it may also come with specific rules and regulations set by the cooperative. Additionally, financing and purchasing processes can differ from traditional real estate transactions.