How to "Go Condo"??

It is not only complicated -- it is virtually impossible.

Moreover, it is almost always completely uneconomic.

The only winner is the city and state of New York who collect massive real estate transfer taxes at very turn.

Politically, it would be easier to achieve peace in the Middle East than to convince ALL of the shareholders of a co-op to agree to such a thing.

If you hate your co-op -- and most people do -- sell it to the next sucker and move on to a condo.

our board has looked at this as well, but really not practical. The fact it creates a tax event for all shareholders is enough to kill the process in itself. Going condop; however, achieves similar goals without the hassle.

Am curious about benefits of going Condop. Does it really just mean owners can sublet without limitation? Will it increase resale price of units?

My co-op has a leniant sub-let policy anyway, but going condo would (i) make this permanent, and (ii) increase the resale value because so many young buyers are afraid of buying co-op.

Opens up the place to foreign buyers, etc., too.

Just saw that qwerty's question was about going "condop" rather than co-op. I *think* Condop would have the benefit of attracting more buyers to a sale, but would love to learn more.

Robocop, was it just to institutionalize a leniant sublet policy?