The term co-op is a short form of the word cooperative. According to Wikipedia:"[a cooperative...is a business organization owned and operated by a group of individuals for their mutual benefit."Read...
BK for co-op properties, is very complexed. There are so many contributing factors, you need to consult an attorney who is VERY experienced in this type of litigation. Especially when it concerns tax...
Since every co-op board looks for different attributes on its application, you need to understand what the co-op board looks for in applications it approves for the building where you want to...