How to find a stock (shares) of a co-op in NYC?

[justin7777]

Do you know how to find the stock (shares) of a co-op in NYC?

I tried searching in the deed on ACRIS, but I could not find it.

The only way I can find the stock (shares) of a co-op is through the sale contract, but the sale contract is not publicly available on ACRIS.

 

[J Grant]

Do you know how to find the stock (shares) of a co-op in NYC?

I tried searching in the deed on ACRIS, but I could not find it.

The only way I can find the stock (shares) of a co-op is through the sale contract, but the sale contract is not publicly available on ACRIS.

Ask the co-op board and the owner of the unit.

There is no real property searchable database I am aware of because the shares of stock are in a private corporation ( the co-op ). Each owner in exchange for his/her shares of stock, gets a designated right use and occupy the unit - it looks and functions and offers a home shelter unit like Real property, but technically, it is X # of shares in a co-op corporation with a right to live in the unit (not sure if the right is conveyed as a lease or simply a right to use/ occupy the unit )

 

[Tom D]

Wouldn't it be 1 share per owner, makes it easy to count the vote, with no one person having all the power. That's my guess.

 

[J Grant]

Wouldn't it be 1 share per owner, makes it easy to count the vote, with no one person having all the power. That's my guess.

I believe it is the number of shares a person holds represents the size and value of their unit - for example 200 shares might be 1800 sf Penthouse B, and 100 shares might be 900 sf apt A. The owners elect a co op board and the run things, the owners might vote on an important issue like an assessment or rule change.

 

[Tom D]

I believe it is the number of shares a person holds represents the size and value of their unit - for example 200 shares might be 1800 sf Penthouse B, and 100 shares might be 900 sf apt A. The owners elect a co op board and the run things, the owners might vote on an important issue like an assessment or rule change.

Could be. But i'm not sure about values, cause they change with time and condition. Maybe when 1st sold they did value. I'm assuming the question is for a specific unit, in which case wouldn't the proud owner know that answer. And then someone is on that co op board who would know, just like a corp ceo.

 

[J Grant]

Could be. But i'm not sure about values, cause they change with time and condition. Maybe when 1st sold they did value. I'm assuming the question is for a specific unit, in which case wouldn't the proud owner know that answer. And then someone is on that co op board who would know, just like a corp ceo.

When the shares are first issued like 200 shares for PH B, the price of the shares was valued on the sf and value of the unit. As you said, values change over time, and the unit price on the market will command whatever the market bears at any given time- but the number of shares (200 ) remains the same for the unit. Agree, the shares are with the owner or co op board knows what they are, which they might not divulge to an outsider-

 

[James Micozzi]

When the shares are first issued like 200 shares for PH B, the price of the shares was valued on the sf and value of the unit. As you said, values change over time, and the unit price on the market will command whatever the market bears at any given time- but the number of shares (200 ) remains the same for the unit. Agree, the shares are with the owner or co op board knows what they are, which they might not divulge to an outsider-

I routinely appraise cooperative units her in NYC. The only way to get the # of shares per unit is from the owner or the coop board/property management company. Plus there is also a ton of other information required in the form that is only available from the management company or board. Most management companies charge anywhere from $150-250 to fill out a questionnaire for the necessary information.

 

[J Grant]

I routinely appraise cooperative units her in NYC. The only way to get the # of shares per unit is from the owner or the coop board/property management company. Plus there is also a ton of other information required in the form that is only available from the management company or board. Most management companies charge anywhere from $150-250 to fill out a questionnaire for the necessary information.

I used to sell co-ops back in the day in NYC. The amount of intrigue swirling around each deal was something to behold. Back then, only an attorney could prep[are a sales contract, not sure if that is still the case. Every agent would hold their breath until their buyer was approved by the co- op board. Talk about a power trip!

Here in FL where I appraise, there are few co op buildings but very few. Most are condos.

 

[ChrisHomesNY]

Do you know how to find the stock (shares) of a co-op in NYC?

I tried searching in the deed on ACRIS, but I could not find it.

The only way I can find the stock (shares) of a co-op is through the sale contract, but the sale contract is not publicly available on ACRIS.

Comps Inc often has the share allocatiion if the unit sold previously. Also - if there is a prior UCC in ACRIS for the subject unit it often has the share allocation.