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:

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).