Bricktionary

… A New York City condo board has limited ways to exercise control over sales in the building unlike a coop board which … the right of first refusal largely unnecessary for coops In theory a coop could make amendments to the buildings …

… Instead of paying property taxes individual owners who live in these buildings are charged PILOT Payment in Lieu of … payments which the city uses to fund improvements to the neighborhood says Jim Hayes a broker at SERHANT He adds that …