2590 Ocean Avenue Condo LLC

Key facts from 2590 Ocean Avenue Condo LLC's documents

Reflects the 2019 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Article 9-B of Real Property Law)

Units / lots

22 (12 residential, 9 parking, 1 community facility) (Declaration, Article 4)

Governing law

Article 9-B of the Real Property Law of the State of New York (Condominium Act) (Declaration, Article 1)

Assessments & dues

Board prepares budget at least annually and allocates Common Charges among Unit Owners according to their Common Interest percentages (By-Laws, Article VI Sec.1)

Special assessments

Allowed when necessary for unanticipated Common Expenses (By-Laws, Article VI Sec.1: 'impose an as)

Reserves & fees

General operating reserve and reserve fund for capital expenditures; Sponsor consent required for reserve fund creation during control period except up to 10% of budget (By-Laws, Article VI Sec.1 and Article II)

Leasing & rentals

Not expressly stated for residential units; Parking Units may be rented if not used by owner (minimum 1 week, maximum 1 month); Community Facility Unit may be leased (Declaration, Article 7 (Parking Unit ren)

Parking & vehicles

Not controlled by condominium documents

Home business

Not specifically addressed; professional office allowed with consent, which implies other home businesses may be restricted (Declaration, Article 7: 'professional of)

Signs & flags

Sponsor may maintain signs for sales; Community Facility Unit owners may install illuminated signs subject to law; otherwise likely restricted (Declaration, Article 7 (Sponsor signs) a)

Setbacks / home size

Unit sizes specified in Schedule B (e.g., 1,285 sq ft for Unit 2A); no minimum requirement stated (Schedule B)

Maintenance

Common Element (roof) maintained by Board via common charges (Declaration, Article 6 A(b): 'roofs' inc)

Insurance

Board shall obtain insurance for the Property (Building, Units, Common Elements) against fire, extended coverage, and other perils as determined (By-Laws, Article VI Sec.2 (not fully quo)

Use restrictions

Each Residential Unit may be used as a residence only; professional office with Board consent if permitted by law (Declaration, Article 7)

Voting & meetings

One vote per 1% of Common Interest; for board elections one vote per 0.01% per member, no cumulative voting (By-Laws, Article III Sec.8)

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