Cooperative housing is a popular housing ownership model in New York City, and apparently Washington D.C. residents are increasingly favoring cooperative housing, too.
Cooperative housing is different from straight ownership in that residents actually purchase shares in a corporation that’s provides members with a place to live. That corporation owns the building, land and all the property, but the residents own the corporation.
Washington D.C.’s cooperative housing includes at least about 120 co-ops that, in this city, are a source of affordable housing. In New York City, many cooperatives are for luxury living and cater to the city’s more elite residents.
Among the earliest examples of cooperative housing in Washington D.C. is the Watergate…
