How many shares a co-op controls?
Started by CR123
about 10 years ago
Posts: 35
Member since: Apr 2013
Discussion about
Hello, Is there any way to quickly find out how many shares a particular unit or apartment controls/owns in a co-op building? (Without necessarily going to the managing agent or anything). Is this kind of information available from ACRIS or something? Thanks!
I could be wrong but I think that is only on the proprietary lease. Maybe a real estate agent that specializes in the co-op will know.
It should be in the offering plan.
The share allocation is in the offering plan. You can get it at the Attorney General's office, or it might be at offeringplanet.com.
Otherwise, you can use ACRIS to get the share count from each UCC1 that's been filed. Plug those numbers into a floor/line spreadsheet, and you'll see a pattern emerge for the typical floors.
If you know the name of the current or a previous shareholder, you can search by name and find the UCC1s that way, if they've ever had a share loan.
Thanks NWT, just what I was looking for!
The building is not on offeringplanet, unfortunately. So I'd have to use ACRIS. Based on what you said ("Plug those numbers into a floor/line spreadsheet, and you'll see a pattern emerge for the typical floors") do you mean I won't be able to get an exact share amount for the unit? Only an estimate?
Oh, and another question:
What if there aren't any UCC1's listed on ACRIS? One of the apartments I'm trying to look up (find the # of shares -- the exact # of shares) only has UCC3 TERMINATION, UCC COOPERATIVE ADDENDUM, and BOTH RPTT AND RETT listed.
If there're UCC3s there, then go back several years and you'll find the UCC1s.
The spreadsheet is for if you don't have a name of an owner. Let's say you want 6A, but none of its owners has ever had a share loan. If 5A has 110 shares and 7A has 114, then 6A would have 112.
ACRIS has RPTTs going back only to 2004, but UCC1s for forever. For a 100-apartment building, you might find 150 UCC1s, counting multiple loans for the same apartment. When you finish entering shares for all the apartments for which there was ever a UCC1, there'll still be empty cells for apartments that've never had a share loan, but you can determine their counts by looking at the pattern of how shares increase in a line from the lower to the higher floors.
It's a curiousity-fueled-by-OCD kind of project.
Gotcha. I see now what you mean with the "filling in the blanks" method.
But when I search, I enter the block/lot/easement, and for one of the units in question, that only gives me the documents I mentioned above, along with the name (in fact, there were only 4 docs listed at all, the earliest being from 2006). Is there a different way to get to the UCC1s?
The UCC1 might have been recorded against the wrong unit, or no unit at all, and thus not coming up in the search. You could take the names you get from the other documents and do a name-search to try finding them. Or as NWT suggests look for the 5A and 7A numbers which are perhaps easier to find, and extrapolate to have a very close guess at 6A.
General curiosity -- what is the bigger question here? Dispute or funny business among existing tenant-shareholders?
ACRIS isn't much when use when searching for specific co-op apartments. Just do block and lot, and the building's entire history will show up. There might not be much if the building is small.
If the apartment's for sale, the broker would know. Their setup data or whatever it's called has or used to have the share count.