What is a rental property vs. an apartment in New York?

Question

Accepted Answer

In New York, the terms "rental property," "apartment," and "unit" are often used interchangeably — but they refer to different things depending on the context.

Rental property: A rental property is a broad term for any real estate that is leased to tenants in exchange for rent. In New York, rental properties include:

Multi-family homes (2–4 units in one building)
Large apartment buildings (5+ units)
Single-family homes rented out by the owner
Townhouses and brownstones divided into rental units
Condos and co-ops rented by the unit owner

Apartment: An apartment specifically refers to a self-contained residential unit within a larger building. In New York City, most rental properties contain apartments.

Key differences for renters:

Renting a single-family home gives you the entire property — no shared hallways or common areas with other tenants
Renting an apartment in a multi-unit building means sharing common areas and potentially having neighbors above, below and beside you
Townhouses and brownstones in NYC are often divided into 2–3 floor-through apartments, offering more space and privacy than a standard apartment building

What to consider when choosing:

Single-family rentals are rarer in NYC but often offer more space, a private garden and quieter surroundings
Multi-unit buildings often come with amenities like a doorman, gym or laundry room
Building type affects your rights — Good Cause Eviction protections, for example, apply differently to small owner-occupied buildings versus large multi-unit complexes