151 Quincy St. Condominiums LLC

Key facts from 151 Quincy St. Condominiums LLC's documents

Reflects the 2021 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Document type, Declaration establishing )

Units / lots

10 (Lots 1201-1210) (Exhibit B description, Declaration cover)

Developer / declarant

151 Quincy St. Condominiums LLC, 874 Hancock Street, Brooklyn, NY 11233 (Declaration, Declarant line)

Governing law

Article 9-B of the Real Property Law of the State of New York (Condominium Act) (Preamble and Article 2 of Declaration)

Assessments & dues

Condominium Board determines Common Charges based on Common Expenses, allocated to each unit in proportion to its Common Interest. (By-Laws Section 6.1, Declaration Article)

Special assessments

Allowed by Condominium Board; borrowing over $25,000 requires majority of Unit Owners' affirmative consent. (By-Laws Section 2.4(A)(vi))

Collections & liens

The Condominium may have a lien for unpaid common charges; By-Laws Section 6.5 addresses defaults. (By-Laws Section 6.5 (not fully provided))

Reserves & fees

Condominium Board may accumulate reserve funds for capital replacements or other purposes. (By-Laws Section 2.4(A)(xii))

Leasing & rentals

Yes, subject to By-Laws Article 7 (Selling and Leasing of Units). (By-Laws Article 7)

Architectural approval

Yes, for alterations, additions, improvements (Declaration Article 12, By-Laws Section 5.2). (Declaration Article 12, By-Laws Section )

Home business

Not explicitly prohibited but must comply with zoning and certificate of occupancy. (Declaration Article 9 (use must be permi)

Setbacks / home size

4 stories (with cellar, penthouse, roof). (Article 4)

Maintenance

Common Element - maintained by Association. (Article 7(A)(ii) (roofs are common eleme)

Insurance

Condominium Board to obtain insurance for Property including Units (hazard, liability, etc.). (By-Laws Section 5.4)

Use restrictions

Yes; each Unit may be used in accordance with local law and Certificate of Occupancy, and not more than one family may occupy a unit at one time. (Declaration Article 9, By-Laws Section 5)

Voting & meetings

Each Unit Owner's vote is proportional to the Common Interest assigned to the unit. Common Interests are set in Exhibit B. (By-Laws Section 4.8, Declaration Article)

Amendments

By 66 2/3% vote of Unit Owners; recorded in Kings County Register's Office. Certain amendments require consent of Sponsor or mortgagees. (Declaration Article 18). By-Laws may be amended by Unit Owners (Article 12). (Declaration Article 18, By-Laws Article )

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.