gate valve? leave it 95% open and leave it alone.
Red handle? Circular like "almost circular, with a lot of bumps to give your fingers some grip"? Must be a gate valve. They are last century's technology, and they have two big problems. One is they leak often, by a little amount. The other is that they can get stuck permanently in the open position.
Did you recently turn it off and open it? That can cause a short-term leak that might go away within a matter of days. Leave it in the open position without forcing it to the end, and then don't touch it for several days. Don't fiddle with it. Tape it so no-one else can "adjust it" If the water in the bucket is still rising after a week, you have a long-term leak, not a temporary leak.
assuming your red handle valves are like mine were and my information is accurate. My building was built in 1982 and there were hundreds of these installed then, and all the other condo owners have discussed this with me and others.
David