When you purchase a Coop, youâ€™re purchasing stock in a privately-held corporation who owns the building. As a stockholder, you lease an apartment from the company in which youâ€™re a part owner. Simply put, you get a Proprietary Lease for a specific apartment because you own a portion of the Cooperative corporation (evidenced by the stock certificate).
The bigger the apartment... The more shares you have.
If you have any more questions feel free to call me anytime.
Keller Williams Realty Empire
9120 4th Avenue Brooklyn, NY 11209
M: (212) 300-3919
O: (718) 954 8400
F: (347) 587-2828