175 Maple Avenue Condominium

Key facts from 175 Maple Avenue Condominium's documents

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

Community type

condominium (Article 9-B of the Real Property Law of )

Legal name

175 MAPLE AVENUE COND

Developer / declarant

SOOPER HOLDINGS LLC, 27 Sunrise Drive, Monsey, NY 10952 (Declaration initial paragraph)

Governing law

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

Assessments & dues

Condominium Board prepares budget and determines amount of Common Charges and Special Assessments each fiscal year; apportioned among Unit Owners in proportion to Common Interests (By-Laws Section 6.1: determination of Co)

Special assessments

Allowed; Condominium Board may levy special assessments for deficiencies in insurance trust funds, and generally for common expenses not covered by regular Common Charges (By-Laws Section 5.5(C) (deficiency after)

Collections & liens

Condominium Board may file a lien on a unit for unpaid Common Charges and foreclose such lien (By-Laws Section 6.4: default in payment;)

Reserves & fees

Established from Common Charges for replacements and working capital; sponsor consent required for reserve assessments during control period (By-Laws Section 6.1 (common expenses inc)

Leasing & rentals

Yes, subject to right of first refusal and other provisions (By-Laws Article 7: Selling and Leasing o)

Architectural approval

Prior written approval of Condominium Board required for any alteration, addition, improvement, or change not costing $5,000 or less in aggregate in a calendar year (By-Laws Section 5.3: Board approval requ)

Maintenance

Condominium Board responsible for maintenance, repair, and replacement of Common Elements as Common Expense; Unit Owner responsible for their own unit and for damage caused by them (By-Laws Section 5.1(A): repairs to Commo)

Insurance

Fire insurance with all risk extended coverage, vandalism, malicious mischief, insuring Building (including Units, bathroom and kitchen fixtures, service machinery) and covering Condominium, Board, Unit Owners, and Permitted Mortgagees (By-Laws Section 5.4(A): Condominium Boar)

Use restrictions

Units may be used only for residential purposes, except that any Unit may be partially used as a professional office by the owner of such unit only (By-Laws Section 5.7(A): use of Units res)

Voting & meetings

Each Unit Owner is entitled to cast votes equal to the percentage of Common Interest of such Unit Owner (By-Laws Section 4.8(A): each Unit Owner )

Amendments

Declaration: amendment by vote of 66 2/3% of Unit Owners; By-Laws: amendment by vote of 66 2/3% of Unit Owners (Section 12.1) (Declaration Article 18: may be amended b)

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