The building, owned and operated by the 235 East 49th Street cooperative, was built in 1927 as a monastery. In 1978, it was converted into an apartment building and 4 years later, it was sold to the residents, who became Shareholders in the Cooperative. The building has 75 apartments, one of which is owned by the cooperative, and occupied by the building Superintendent. The corporation leases the commercial space in the basement. Income derived from this lease is used to help meet the ongoing expenses of the building. The building employs four door-persons, under the supervision of the Superintendent. The building also features a common Roof Garden maintained by a committee, equipped with two passenger elevators which may also function as a service elevator when necessary, as well as a laundry facility located on the first floor. Shareholders are permitted to sublease their apartment for a total period of two years during their ownership. Applications must be submitted at least 4 weeks prior to the lease start period, and Shareholders will be charged a one time sublease fee of 20% of one years maintenance to the cooperative. Description Provided By Takeshi Yamaguchi