noun; real-estate term

A studio apartment with a recessed or partly separated area that can hold a bed, dining table, desk, or another distinct use.

““The bed fits into the alcove, leaving the main studio area open.””

An apartment in a corporation-owned building where the resident buys shares and receives a proprietary lease rather than owning the unit as separate real property.

““The apartment is a co-op, so the purchase includes a board package and interview.””

An apartment owned as an individual real-property unit together with a shared interest in the building’s common elements.

““They preferred a condo because the unit could be rented with fewer board restrictions.””

A New York building structure that combines condominium ownership for part of the property with a cooperative corporation owning another portion, often the residential apartments.

““The listing called it a condop, but the attorney reviewed whether the apartment itself was cooperative or condominium ownership.””

A New York apartment layout with three principal rooms plus a smaller fourth area, often used as a dining room, office, nursery, or compact bedroom.

““They turned the dining area in the junior four into a home office.””