What is a building that includes both condominium and cooperative ownership known as?

A building that includes both condominium and cooperative ownership is referred to as a condop. This type of property structure typically allows for some units to be owned as condominiums while others operate under cooperative rules. Condops combine the flexibility of condo ownership (where you own your specific unit) with the shared responsibilities and regulations often seen in cooperatives (where residents share ownership of the entire property as a single entity). This mixed ownership approach can attract a diverse range of residents and investors, offering various advantages related to financing, taxation, and maintenance.

The term used in this context is specific and recognized within real estate communities, making it essential for practitioners and buyers to understand the differences in ownership types and their implications in real estate transactions. The other options do not accurately capture this specific mixture of ownership structures, emphasizing the importance of terminology in real estate.