Opinion ID: 781725
Heading Depth: 2
Heading Rank: 3

Heading: Combined units

Text: 11 Article 5 § 4 of the Cooperative's bylaws authorizes it to grant a request by the owner or owners of one or more proprietary leases covering one or more apartments in the apartment building and of the shares issued to accompany the same to subdivide an existing apartment or combine all or portions of one or more existing apartments. The board must then reallocate shares to reflect the new alignment, but the total number of the shares so reallocated [must] remain[ ] the same. 12 Between the closing and June 27, 2000, the date on which the cooperative's members voted to terminate the garage lease, several persons purchased multiple units and received permission to combine them. The Cooperative claims that sixteen original apartments had been combined into seven existing apartments by the time of the termination vote. Except where a hallway space was added to existing apartments, combinations did not result in any change in stock ownership. That is, the owner of a three-apartment combined unit continued to own the stock originally issued for each of the apartments. The board did not issue new leases for combined apartments.