I’m often asked about the difference between a Boston luxury condo and luxury co-op. I’m going to give you the short version of the answer.
In a condominium you own the actual property the physical unit in the building. There’s a deed that is issued when you purchase a condo that is associated with your property and makes it possible for you to obtain a mortgage from a bank or financial institution.
In a co-op on the other hand you become a shareholder in a private corporation and own a stock certificate in lieu of a deed. The stock certificate is attached to a specific apartment/unit in the building (aka proprietary lease) You can obtain a co-op loan but it is usually harder than a standard mortgage.
In a co-op there’s usually more restrictions when it comes to renting out a unit.
Boston Luxury Condos For Sale
All Boston Luxury Condos for Sale $500,000 – $15,000,000
Back Bay Boston Luxury Condos for Sale $900,000 – $10,000,000
Beacon Hill Boston Luxury Condos for Sale $550,000 – $3,000,000
Charlestown Luxury Condos for Sale $350,000 – $3,000,000
Fenway Luxury Condos for Sale $450,000 – $2,500,000
Financial District Luxury Condos for Sale $850,000 – $12,000,000
Midtown-Downtown High Rise Luxury Condos for Sale $900,000 – $20,000,000
Seaport District High Rise Condos for Sale $1,000,000 and up
South Boston Luxury Condos for Sale $650,000 and up
South End Luxury Condos for Sale $650k and up
West End High Rise Luxury Condos for Sale $650,000 and up