Streeteasy: remove condops from condo search.

Seconded!

Anything Streeteasy????? Can you please remove condops from condo searches.

YES SE! Condops are not condos at all, usually. They should be included in the CO-OP searches. I used to own a unit in a condop, I know whereof I speak!!!

yes indeed they are Coops not Condos. Whatever they are they should have their own search click.

I totally agree. If someone is looking for a Condop specifically, then the search would be that much easier and everyone wins.

If you ever have any more suggestions or questions, please feel free to reach out to our Support Team at support@streeteasy.com. Our team is available Monday-Friday, 9:30-6:00.

Thanks again!

Hi I'll take you up on that offer! ..so I'm reaching out. Hand fully extended. Can you address SE member concerns(above). Thanks SE

Hi SE :)

"with your permission i'd like to send a letter a week they can't ignore me forever" "sure can" 'but you go ahead and write your letters I'll even mail them for you"

Maybe Zillow will help. After all they beat earnings yesterday so everyone over in corporate must be in a great mood. Hi Zillow(always thought that was a great name btw, kind of like Todd Gak). Can you help out? Shouldn't cost much to get IT on it. Spencer can u put in a ticket? I'm sure the boys downstairs will then get right on it...... :) thx! have a great day everyone!

I must be aggravating the Message Board Director. Might delete me. Well nice knowing you all. Maybe I'll start my own StreetEasy. Ya maybe I'll call it EasyStreet....hmmm.

Hello all,

Thank you for writing in about this. The reason why we include condops in searches that are done for co-ops is because the term "condop" is often used by the brokerage community to refer to that unit type. We show condop listings in searches for co-ops to avoid excluding legit deals that do fall within that category.

Thanks!

HI SE! Thank you very much. I'm pretty excited. Why then is it also included in a condo search? It's showing up twice in a coop search and a condo search. Something is not right there.....legally then it should only show up in a coop search NOT condo search. Isn't a Condop legally a COOP? Can other experts help here?
Thanks SE

btw SE I never lost faith....

Hi,

We completely understand your point of view! However, a condop is defined as a building that has been split up to provide both commercial units and residential units. The residential units are controlled by a Co-op corporation and are usually located above the commercial units located on the lower floors. These commercial units are completely separate from the Co-op units and are typically retail spaces, garages or any other commercially oriented businesses.

Real estate agents and brokers tend to refer to condops as 'co-op' buildings with condominium rules. Condops show up in both searches because they follow the more laid back rules of a condo, but the buyers purchase shares in a corporation rather than the property, which is how co-ops operate.

You can learn more by visiting our help center: https://support.streeteasy.com/hc/en-us

If you ever need any assistance while using StreetEasy or have questions about the site, you are more than welcome to write us at support@streeteasy.com.

Thanks!

Dear SE, you are somewhat misinformed. The condop we owned in was and is a white glove co-op on the Upper East Side of Manhattan. There was nothing even slightly "laid back" in the co-op management, unless you include that pets are allowed and pieds-a-terre are allowed.....I guess that makes it kind of rad? You could only rent out your unit by proving financial hardship, and only a couple rentals were allowed in a building of almost 200 units. Our first buyer got rejected by the board despite no shortage of money.

Remember everybody you can have a condo with co-op rules and a co-op with condo rules. That's a quote from Stu Saft.

That's why SE said "tend to refer to" rather than "is". It comes from a co-op within a condo -- i.e., a true "condop" -- being slightly more likely to have loose condo-like rules than a non-condop co-op.

Thx Fluistic for the input. SE thank you however

(1)why do you allow a condop to show up under both a condo search and a coop search? How is that fair to those listing with you with either a condo or a coop unit? Why does a condop owner get better advertising to sell their product? Do they pay more for the double advertising?

(2) If you agree that a condop is a different type of home ownership then why does it not have it's own search button? Why are people looking for condos forced to have condops show up on the search list. Same for coop owners.

I'm far from being an auditor but something is not right here.....

I'll bet that if you took a vote of all the users of streeteasy. 99% of them would say yes please provide a separate click on for condops. I cant imagine it being a major capex so why not?

NWT, how do you know this? I don't believe it. I am aware that some agents use the term "condop" to mean a co-op with a very relaxed board. Real estate agents often incorrectly call themselves brokers, too, that doesn't make them brokers.

A residential co-op with adjacent, but barely affiliated, commercial condos faces the same pressures as a co-op without commercial space (we can be as simple as a parking garage). In my experience they are corporations not associations, they have a board of directors, not a board of managers as in a condo. That is the beginning of a long list of differences.

In our condop the commercial financial statement was presented as part of due diligence, but by that point in the building's history, the corporate tenant contributed nothing to the residential co-op's operating budget. The sponsor still owned about 9 units when we owned there, and some condo revenue went to the sponsor, who otherwise was losing money on all the remaining apartments.

I have known co-ops that were very relaxed about board approvals and rentals that had to abandon those policies because of outside pressures from insurers and lenders. I don't see why having a condo in the same building provides any insulation from those pressures.

I was in a condop. Incredibly loose rules, allowed 10% down, etc.

Bhurg, you prefer loose rules?

While it is clear their should be a separate Condop search option, this conversation highlights the weakness of education and standards in the real estate sector. I have long argued that the standards need to be raised.

So you are saying that all the people who posted opinions here are uneducated?