There is a legal difference in ownership as well. A townhome is usually owned in fee simple. In other words, the owner of a townhome has property rights that extend to the yard around the townhome...
When you purchase a condominium, you purchase a unit, plus ownership of common areas that you own with all the other unit owners. A lender will give you a loan, based on your ownership title to this...
Both a condominium and a co-op represent forms of real estate ownership, generally of an 'apartment'-type unit.
Usually -- and this is especially true in New York City -- when you buy a condominium,...