The Collaborative International Dictionary of English v.0.48:

condominium \condominium\ n.
   1. one of the units in a condominium[2].

   Syn: condo.
        [WordNet 1.5]

   2. a complex of dwelling units (as an apartment house) in
      which each unit is individually owned (as contrasted with
      rented).
      [WordNet 1.5]

WordNet (r) 3.0 (2006):

condominium
    n 1: one of the dwelling units in a condominium [syn:
         condominium, condo]
    2: housing consisting of a complex of dwelling units (as an
       apartment house) in which each unit is individually owned