12 Phyllis Terrace Condominium

Key facts from 12 Phyllis Terrace Condominium's documents

Reflects the 2023 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Title page - '12 PHYLLIS TERRACE CONDOMI)

Legal name

12 PHYLLIS TERRACE CONDOMINIUM

Developer / declarant

THOMAS KLEIN LLP

Governing law

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

Assessments & dues

Not fixed; determined annually by Board of Managers based on budget. (Article VI Section 2, page 19)

Special assessments

May be levied and paid in same manner as regular assessments. (Article VI Section 2, page 19)

Collections & liens

Unpaid common charges constitute a lien on the Unit prior to all other liens except taxes and first mortgages; may be foreclosed like a mortgage. (Article 15, page 6-7)

Reserves & fees

Budget includes 'reserves' as an operational item, but no separate reserve fund requirement. (Article VI Section 2, page 19)

Pets

Pets are mentioned but no specific restrictions; subject to no nuisance rule. (Article VIII Section 3, page 21)

Leasing & rentals

Yes, but subject to right of first refusal and payment of all unpaid common charges; lease in violation voidable. (Article XI Section 1, page 22-23)

Parking & vehicles

Commercial license plate vehicles may not be parked in Condominium for more than 24 hours. (Article VIII Section 7(e), page 22)

Maintenance

Board of Managers maintains exterior surfaces including roofs. (Article III Section 6, page 16)

Use restrictions

All Units shall be used for residential purposes only. (Article VIII Section 2, page 21; Article)

Voting & meetings

Each unit owner entitled to one vote per unit at Unit Owners meetings; for Board Member Elections, three votes for each corresponding seat. (Article II Section 2, page 12)

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