Condo vs Coop

Here is an extensive analysis (56 pages) on the topic by a prominent NYC appraiser.

General consensus is that condos trade at a premium (tough to identify how much) to coops as they are a stronger form of ownership. As far as I know, all new projects are condos in this city these days and new construction sells at a premium to re-sales so it is really tough to put a pulse on what the premium of condo versus coop really is.

With the exception of ultra high end properties like the Dakota where coop's rigorous control of new buyers is seen as a commodity.

http://www.millersamuel.com/pdf-tank/1051930559WFulr.pdf

coops have higher barriers to entry (i.e. down payment requirements, financial covenants, other rules..)--keeps prices lower than condos, but more stable. Condos rarely have entry barriers and constitute a more liquid market but much more prone to destabilization. I dont think the coming entry of a flood of condos will in fact constitute a "glut" because there has historically been a dearth of condos in this town. From population estimates, I don't think there will be a glut of anything real estate-wise, barring 9/11 times three.

For a comparison between prices per square foot for coops vs condos and the difference between buying them go to www.thenewyorksource.com click on market reports for the prices and click on condo vs coops for more information about buying.