Condo (noun)

1. A type of housing, typically an apartment or unit in a multi-unit building, that is owned by the person living in it.
2. A type of real estate where the unit owner owns the interior space of the unit, but the common areas of the building are jointly owned by all the unit owners.

Origin:

1960s: short for condominium.

Examples:

1. He just bought a condo in the city.
2. She decided to rent a condo for the summer.
3. We are thinking of buying a beachfront condo.
4. They are looking for a luxury condo in the heart of the city.
5. We just closed on the purchase of our first condo.