co-op


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Cooperative

Any organization owned by its members. A cooperative may be a business owned by its employees and/or customers, a residential complex owned by the people who live in it, or even a bank owned by its depositors. Certain legal requirements are incumbent upon cooperatives; for example, there is often a cap on how much of their profits may be distributed. See also: Cooperative economics.

Cooperative (co-op).

A co-op is a corporation that owns a particular residential property. The shareholders are the tenants who, instead of owning an individual unit, own shares in the corporation, which gives them the right to live in that unit.

co-op

(1) Short for cooperative apartment, being a method of owning real estate in which a corporation owns a building and related facilities and persons who buy stock in the building are entitled to rent a particular unit, called a proprietary lease, at rates significantly below market rents. (2) An arrangement between two real estate agents for the sale of a property and splitting of the commission, usually as a result of one agent having the listing with the owner and another agent bringing the buyer to the closing table.

References in periodicals archive ?
It is all too common that students can earn a master's degree in business administration without ever having been taught even the most basic concepts of the co-op business model.
Specifically for minority communities and economically disadvantaged communities, co-ops are a very powerful idea because they allow us to have access," says Antonio Rosell, an urban planner at Community Design Group in Minnesota.
Ownership of resort-location condos and co-ops also can leave clients vulnerable to geographical exposures.
The Silver Spring Co-op was founded in 1941 by women who were studying the local school system as a project of the Montgomery County League of Women Voters.
Co-op leaders should also let the media know they are available for interviews about their co-op and its importance to the members and the community.
5 million first mortgage and a $500,000 line of credit for a 154-unit co-op located at 11 Sentry Road in Scarsdale, NY; a $4 million first mortgage and a $500,000 line of credit for a 97-unit co-op located at 740 East Broadway in Long Beach, NY; a $3 million first mortgage and a $500,000 line of credit for a 72-unit co-op located at 210 East Broadway in Long Beach, NY; a $1 million line of credit for a 20-unit co-op located at 205 West 19th Street in Manhattan; and a $750,000 line of credit for a 136-unit co-op located at 315 East 69th Street in Manhattan.
BARNEYS NEW YORK CO-OP offers an array of hip casual apparel from the hottest designers with a selection of the most sought after denim lines including Chip & Pepper, Habitual and Citizens of Humanity.
USDA Rural Development, through its Rural Utilities Service, provides low-interest loans to these rural co-op utilities, which helps to partially offset the much higher costs involved in providing service in sparsely populated areas compared to densely populated cities.
5 million first mortgage and a $500,000 line of credit for a 118-unit co-op located at 372 Fifth Avenue in Manhattan.
Asda - Co-op - Iceland - Kwik Save - Marks & Spencer - Morrison - Netto - Sainsbury - Safeway - Tesco - Somerfield - Waitrose
For more than six decades, co-ops of all types all across America have united to celebrate October as Co-op Month by promoting co-op awareness.
5 million line of credit for a 528-unit co-op located at 1 Burbank Street in Yonkers, NY.