251 Remsen Avenue Condominium

Key facts from 251 Remsen Avenue Condominium's documents

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

Community type

Condominium

Legal name

251 Remsen Avenue Condominium

Developer / declarant

55 REMSEN LLC with an address at 427 Bedford Avenue, Brooklyn, NY 11211 (Declaration preamble)

Governing law

Article 9-B of the Real Property Law of the State of New York (Article 2(a) (page 5) / Declaration reci)

Assessments & dues

Common Charges determined by Condominium Board based on budget (By-Laws Section 6.1 (page 25))

Special assessments

Condominium Board may levy Special Assessments (allocated pro-rata according to Common Interests) in accordance with By-Laws Section 6.1(C) (Definition (33) in Exhibit C (page 22) a)

Collections & liens

Condominium Board may file lien for unpaid Common Charges and may foreclose; proceeds applied to unpaid charges and costs (By-Laws Section 6.4 (page 27) - implied )

Reserves & fees

Condominium Board may create reserve, contingency or surplus fund; Sponsor's consent required while Sponsor owns at least 25% or within 5 years (By-Laws Section 2.7 (page 35) - "assess )

Leasing & rentals

Yes, subject to Right of First Refusal and other provisions in Article 7 of By-Laws (By-Laws Article 7 (page 28) - Section 7.)

Architectural approval

Yes, for alterations, additions, improvements or changes to Units that may affect Common Elements, other Units, or require permits (By-Laws Section 5.2(A) (page 44-45))

Home business

Not explicitly permitted or prohibited; use limited to uses allowed by local law and Certificate of Occupancy (Article 9(a) (page 7))

Insurance

Not explicitly stated

Use restrictions

Yes; each Unit may be used in accordance with local law and Certificate of Occupancy, not more than one family may occupy a Unit at one time (Article 9(a) (page 7))

Voting & meetings

Each Unit Owner entitled to vote in proportion to Common Interest; Sponsor or its designee may vote as long as it owns units; after Sponsor no longer owns units, no further right to vote (By-Laws Section 2.7 (page 35) and Sectio)

Amendments

Declaration may be amended by 66 2/3% vote of Unit Owners; amendment must be recorded; certain amendments require approval of mortgagees; Sponsor's consent required for certain amendments while Sponsor owns units (Article 18 (pages 13-14) and By-Laws Sec)

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