New York residential properties are usually described in terms of A) forms of ownership and B) building types.

Building type (or property type) refers to the characteristics of the physical brick and mortar and takes into consideration the architectural period. There are many different types of properties in New York, they are primarily Townhouses, Pre-War and Post-War apartment buildings, Lofts, New Developments, Walk-ups and Tenements.

Whereas the physical characteristics of the property are important, the form of ownership in which the property is held is also important. The major forms of ownership in New York are as follows: Stand Alone Properties, Condominium, Cooperative, Condop, Multi-family, Single-family and Mixed-use property.

Learn more about forms of ownership in New York.