227 Berkeley Place Condominium Corp.

Key facts from 227 Berkeley Place Condominium Corp.'s documents

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

Community type

Condominium (Declaration FIRST)

Legal name

227 Berkeley Place Condominium Corp.

Units / lots

4 (tax lots 1301-1304) (Schedule B: Unit tax lots 1301-1304)

Developer / declarant

Berkeley Place Capital 227 LLC (Declaration preamble)

Governing law

Article 9-B of the Real Property Law of the State of New York (Declaration preamble)

Assessments & dues

Not fixed; determined by Board based on annual budget. (By-Laws Article VII Section 1)

Special assessments

Permitted; Board may vote a special assessment in excess of regular monthly assessments. (By-Laws Article III Section 4(a)1)

Collections & liens

Unpaid common charges constitute a lien on the unit, prior to all other liens except taxes and first mortgage. May be foreclosed like a mortgage. Board may also recover costs and attorneys fees. (Declaration TWELFTH; By-Laws Article VII)

Reserves & fees

Separate fund for future capital repairs and improvements, funded yearly at 10% of budget. Must be held separate from operating expenses. (By-Laws Article VII Section 1)

Pets

Not explicitly addressed; no pet restrictions mentioned. Only a smoking policy is detailed. (N/A)

Leasing & rentals

Allowed, but only entire unit may be rented; no portion of a unit may be rented and no transient tenants. (By-Laws Article VII Section 12(d))

Architectural approval

Written consent of Board required for alterations to exterior or common elements, and for interior alterations that impair structural soundness. (Declaration SEVENTEENTH(b))

Home business

Professional office allowed if owner resides therein. (Declaration SEVENTEENTH(i))

Use restrictions

Units shall be used for residences only, except sponsor may use for sales office. Professional office allowed if owner resides in unit. (By-Laws Article VII Section 12(a); Decla)

Voting & meetings

Each Unit owner has one vote per Unit owned; Board of Managers cannot vote for election of Board members. (By-Laws Article II Section 2)

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