404 Grand Street Condominium HOA Inc

Key facts from 404 Grand Street Condominium HOA Inc's documents

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

Community type

Condominium (Document Type: CONDO DECLARATION; Declar)

Units / lots

5 (1101 through 1105 inclusive) (Cover page property data; Article 3; Exh)

Developer / declarant

404 Grand Villa LLC, 100 Merrick Road, Suite 400E, Rockville Centre, NY 11570 (Declaration opening paragraph)

Governing law

Article 9-B of the Real Property Law of the State of New York (the Condominium Act) (Article 2(a) of Declaration; Article 1 o)

Assessments & dues

Condominium Board determines Common Expenses and fixes Common Charges pro-rata according to each unit’s Common Interest percentage. (By-Laws Section 6.1; Exhibit C (6), (7),)

Special assessments

Allowed; levied by Board pro-rata according to Common Interest; requires approval per By-Laws Section 6.1(C). (Exhibit C (33) Special Assessments; By-L)

Collections & liens

Board may file a lien on a unit for unpaid Common Charges and may foreclose that lien. (By-Laws Section 6.4 (implied); Section 9)

Reserves & fees

Board may establish and maintain a general operating reserve and a reserve fund for replacements and working capital. (Exhibit C (7) Common Expenses; By-Laws S)

Leasing & rentals

Yes, units may be leased subject to the right of first refusal in Article 7 of the By-Laws. (By-Laws Article 7, Section 7.1)

Insurance

Not explicitly required but likely (implied from master policy). (No citation)

Use restrictions

Each Unit may be used only in accordance with its Certificate of Occupancy and zoning; not more than one family may occupy a unit at one time. (Article 9(a) of Declaration)

Voting & meetings

Each unit owner has one vote per unit owned; cumulative voting allowed; Sponsor retains vote as long as it owns units. (By-Laws Section 2.7 (elections); Section)

Amendments

66-2/3% vote of Unit Owners; amendment must be recorded; Board may act as attorney-in-fact. (Article 18 of Declaration; By-Laws Artic)

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