condop
n. 1. A cooperative incorporated within a condominium building. 2. A cooperative that is run with little or no oversight from a board, much like a condominium.[Blend of condo and co-op.]

Example Citations:
This three-bedroom, three-bath apartment is on the 28th floor of the 37-story Grand Sutton tower at 59th Street and First Avenue.

The building, a so-called condop (a co-op that operates like a condominium), has only two apartments on each floor. Windows in every room of this apartment offer panoramic views of the city and East River, with multiple exposures.
—Meredith Daniels, "Home of the Week," Newsday, May 13, 2005

When the term condop is used in the legal sense, Mr. Weinstein said, it describes a building (or a complex of buildings) that is part co-op and part condo. ...

But frequently these days, the term condop is used not in the legal sense but to describe a co-op building that behaves like a condo.

"The term 'condop' has been applied confusingly, and improperly, to New York City real estate," said Neil Binder, president of Bellmarc Realty in Manhattan and author of "The Ultimate Guide to Buying and Selling Co-ops and Condos in New York City" (Nice Idea Publishing, 2005). "The word now effectively has two meanings."

Mr. Binder said that brokers and sales agents often use the term condop to describe a relatively unusual co-op that has relaxed, or nonexistent, board-approval requirements.
—Jay Romano, "How Condops Differ From Condops," The New York Times, November 27, 2005

Earliest Citation:
Condominiums do not have the same tax problems, so in some cases in which there are several commercial tenants in the building, the solution is to form a ''condop'' — a cooperative within a condominium. All the residential tenants in the cooperative make up one unit of the condominium and the commercial tenants are the other condominium owners.
—Diane Henry, "Talking co-op offices," The New York Times, December 12, 1982

Related Words:

Category: