go co-op

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go co-op

Typically said of an apartment building that has become a cooperative (or "co-op")—a building in which residents do not own property but rather own shares in the corporation that owns the building. I can't believe that our building is going co-op—I might need to move.
References in periodicals archive ?
Previously, Pershing CEO Bill Ackman has said that the senior debt could be paid as a result of the property going co-op, a transaction that would also mean profit for PSW.
The letter also mentioned in the event of a conversion, which CW was pushing for, tenants would have the option of going co-op or condo or remaining on as renters.