The shares were allocated when our buildings were converted to a co-op back in 1982. The number of shares allocated to each apartment depends on its size and location within the buildings: larger apartments and apartments in higher floors are considered more “desirable,” so they were allocated comparatively higher numbers of shares. The co-op corporation has a total of 12,120 shares allocated among 111 apartments as follows:
|2-BR||Larger 1-BR (W line)||Standard 1-BR||Smaller 1-BR (R line)||Studio|
|Floors 1 & 2||130||105||100||85||55|
|Floors 3 & 4||135||110||105||90||60|
|Floors 5 & 6||140||115||110||95||65|
The number of shares determines the voting power of the shareholder as well as the proportionate share of the operating expenses of the co-op that will be charged to the shareholder (the maintenance fee).