What many of them do not know is that there are other differences. Most of the times for people buying first and maybe only thing that matters is the apartment itself. Space, location, layout, view. Form of ownership is not the only difference between co-ops and condominiums. As a buyers you will notice that the asking price for two exact same apartments one in a co-op and the other being a condominium is different.
Condominiums are usually more expensive than co-ops.
One of the reasons for the disparity, is that co-op boards have more power to block sales than boards of managers in condominium. On the other hand co-op boards have broad power to reject potential purchasers, subject to prohibitions against discrimination. In that affect, some buyers who would rather not go thru co-op board missions committee and might opt for a condo. This is the unit owner's proportionate payment on the underlying mortgage demanded on the obligation the debt owed by the co-op corporation that is secured by the building itself. But when you buy a condominium there is no underlying mortgage, so you are only paying price you are paying for the unit.