Property Ownership
In New York, a 'condominium hotel' (condo-hotel) arrangement involves:
AA hotel managed as a cooperative
BIndividual ownership of hotel units that are placed in a rental pool managed by a hotel operator, with owners retaining limited personal use✓ Correct
CA hotel converted to residential condominiums only
DA hotel operated exclusively by the city
Explanation
In a condo-hotel, individual investors purchase hotel rooms or suites as condominiums and place them in a rental pool managed by a hotel company. Owners receive income from their unit's hotel rentals and may use it personally for limited periods.
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