437 Putnam Condominium Corp

Key facts from 437 Putnam Condominium Corp's documents

Reflects the 2020 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Cover page: Document Type: CONDO DECLARA)

Units / lots

4 (tax lots 1201-1204) (Cover page (Property Data) and Schedule )

Developer / declarant

Y.O.R. Management LLC (Declaration, opening paragraph)

Governing law

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

Assessments & dues

Board prepares budget, determines Common Charges and apportions proportionally to Common Interest (By-Laws Art VI Sec 1)

Special assessments

Allowed; Board may increase monthly assessments or vote a special assessment (By-Laws Art IV Sec 2(a))

Collections & liens

Lien granted by Section 339-z Real Property Law; foreclosure allowed; Board may also collect rent from tenant if non-occupying owner defaults (By-Laws Art VI Sec 5, Sec 6)

Reserves & fees

Board may establish reserve for replacements; during Sponsor control cannot establish reserve other than as in Offering Plan without 51% approval (By-Laws Art IV Sec 2(a), Art IV Sec 8(c))

Pets

not explicitly addressed; possibly subject to rules and regulations (From Schedule A (Rules and Regulations) )

Leasing & rentals

Implied allowed; Sponsor may use units as rental; Board may collect rent from tenant if owner defaults; no restrictions on owner leasing specified (Declaration Section 10; By-Laws Art VI S)

Parking & vehicles

Parking Units only allowed for parking of motor vehicles (Declaration Section 10: Parking Units, i)

Architectural approval

yes, for structural additions/alterations/improvements or affecting exterior (Bylaws, Article VI, Section 11: No Unit )

Home business

Home occupation permitted per zoning; professional office by resident with board consent (By-Laws Art VI Sec 10(a))

Signs & flags

Sponsor may erect and maintain signs for sales (Declaration Section 12(c)); no provision for owner signs (Declaration Section 12(c))

Setbacks / home size

building approximately 19 feet wide, but height not given (Declaration Section 4: one building appr)

Use restrictions

Except for home occupation or professional office with board consent; Sponsor may use for sales/rental offices (By-Laws Art VI Sec 10(a); Declaration Se)

Voting & meetings

Each Unit Owner entitled to 1 vote per .01% of Common Interest; for Board election, 1 vote per .01% per member to be elected (By-Laws Art II Sec 7)

Amendments

Declaration: 66 2/3% of Common Interest; certain amendments require consent of first mortgagees, Sponsor, or commercial unit owner; Sponsor may amend for floor plans without vote (Declaration Section 15)

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