When you say common space... is it?
coop or condo?

co-op

Sounds like what Ted is saying holds true for you also...
The cooperative "common" space, unlike a condo, belongs to the corporation, not the shareholder or unit owner. Therefore the space allotted for bikes, cars, storage, etc... does not have to be divided in any equitable fashion (as long as it is not biased).
so if the building space only allows for 58% of the SH to have bike space and they are saving the other space for some other future use, unfortunately for the other 42%, they have to wait for a space.

~AR

While I cannot answer your query directly, I can provide some anecdotal thoughts.

In our co-op there are but 250 storage bins with 500 units, so we allocate storage bins/cages to the next unit on the waiting list (one per unit) upon departure of a shareholder.

We have 500 units and there are 700 parking spaces. But with two and three car families, we restrict parking to only residents of the building. Thus a family member who is not a resident cannot park in an assigned space, and all are assigned. We do permit overnight parking by a visitor to a resident in the resident’s assigned space as a temporary expedient.

We have a bicycle room. As we restrict residents from transporting their bicycles via the elevators, we ensure that all can be accommodated. Non residents (visitors or family members) may not employ the bicycle room.

So the bicycle room rules depend on the building’s rules as well.