Not entirely. When it was first developed, it was a lease agreement and the cooperative owned the units. But if I wanted to move out and sell, the cooperative looked after all that. If I paid $300,000, and in the time I lived there it went up to $330,000, the co-op would get a third of the $30,000 that it went up.
On July 26th, 2012. See this statement in context.