215 Putnam Ave Condominium Inc.

Key facts from 215 Putnam Ave Condominium Inc.'s documents

Reflects the 2022 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Article 5: The Condominium shall be know)

Units / lots

6 (Lots 1101-1106) (Exhibit B table listing 6 tax lots; Arti)

Governing law

Article 9-B of the Real Property Law of the State of New York (Condominium Act) (Declaration preamble; Article 2.)

Assessments & dues

Common Charges allocated proportionally to Common Interests; based on a budget adopted by Board each fiscal year. (By-Laws Section 6.1 (Determination of Co)

Special assessments

Allowed; must be approved by Board and, if borrowing more than $25,000, also by majority of all Unit Owners. (By-Laws Section 6.1(C) and Section 2.4(A)

Collections & liens

Condominium Board may place a lien on a unit for unpaid Common Charges and enforce by foreclosure. (By-Laws Section 6.4 (Default in Payment )

Reserves & fees

Board shall accumulate reserve funds for capital replacements. At least 10% of Common Expenses for capital replacement reserve (during Sponsor control period, Section 2.7). (By-Laws Section 2.4(A)(xii); Section 2.7)

Pets

Not explicitly restricted in Declaration/By-Laws; rules may be in Rules and Regulations (not fully provided). (Rules and Regulations (referenced).)

Leasing & rentals

Yes, units may be leased subject to restrictions. (By-Laws Article 7 (Selling and Leasing o)

Parking & vehicles

Not regulated by condominium; subject to city rules.

Architectural approval

Yes, for any alterations, additions, improvements to Unit or Limited Common Elements; must obtain prior written approval of Condominium Board. (Article 12 (Alterations, Addition, Impro)

Home business

Not specifically prohibited; but use must comply with local zoning and CO. (Article 9; By-Laws Section 5.7.)

Setbacks / home size

4 stories plus cellar and bulkhead. (Article 4.)

Maintenance

Roof is Common Element; maintained by Condominium Board. (Article 7(A)(ii) (Common Elements includ)

Insurance

Condominium Board shall obtain property insurance covering Building and Units (including fixtures, improvements) on a replacement cost basis, and liability insurance. Coverage for all insurable perils. (By-Laws Section 5.4 (Insurance).)

Use restrictions

Each Unit may be used in accordance with local law and Certificate of Occupancy; not more than one family per unit. (Article 9 (Use of Units); By-Laws Sectio)

Voting & meetings

Each Unit Owner votes in proportion to Common Interest (based on floor space, location, relative value, uniqueness, etc.). Common Interests: Unit 1: 31.57%; Unit 2A: 12.18%; Unit 2B: 12.18%; Unit 3A: 12.61%; Unit 3B: 12.61%; Unit 4: 18.85% (Article 8 (determination of Common Inter)

Amendments

Declaration amendment: 66 2/3% vote of Unit Owners, recorded in Kings County Register. By-Laws amendment: by 66 2/3% vote of Unit Owners present at meeting (or written consent) unless higher is required by Declaration. (Article 18 (Declaration amendment); By-L)

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