4 Elaine Place Condominium

Key facts from 4 Elaine Place Condominium's documents

Reflects the 2009 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

4 ELAINE PLACE CONDOMINIUM

Developer / declarant

LEBOVITS FAMILY TRUST

Governing law

Article 9-B of the Real Property Law of the State of New York (Article 1: Submission of Property)

Assessments & dues

Board of Managers determines budget and levies monthly assessments payable in advance. Increases pro-rata per common interest. (By-laws Article III Section 5 item 1: To)

Special assessments

Allowed; levied and paid same as regular assessments. (By-laws Article VI Section 2: Special as)

Collections & liens

Lien for unpaid common charges; foreclosure after 90 days due; Board may purchase unit at foreclosure. (Declaration Article 16 (Chiteses) and By)

Reserves & fees

Interest at maximum amount permitted by New York State from due date; unit owner liable for reasonable costs and attorney's fees. (By-laws Article IX: said sum shall bear )

Pets

Implied allowed but must not be nuisance. (By-laws Article VII Section 3: Owners ..)

Leasing & rentals

Yes, subject to restrictions; voidable if violation. (By-laws Article XI Section 1 and 2: No U)

Architectural approval

Written consent of Board required for exterior alterations, structures on common elements, and structural interior alterations. (Declaration Article 17(b); By-laws Artic)

Maintenance

Not explicitly stated; roofs are common elements (outside walls and roofs). Association maintains common elements. (Declaration Article 5: common elements i)

Insurance

Fire insurance on buildings and common elements at full replacement value; public liability insurance initially $1,000,000 single limit. (By-laws Article VI Sections 1 and 2 (Ins)

Use restrictions

All Units shall be used for residential purposes only. (By-laws Article VII Section 2)

Voting & meetings

Each Unit Owner has one vote per percentage of common interest (i.e., one vote per unit). Unit Owner includes Sponsor. (Article 8: Common Interest, Each Unit Ow)

Amendments

By 66-2/3% of Unit Owners in number; if material adverse to first mortgagees, need approval of mortgagees representing 51% of unit votes. Amendments recorded. (Declaration Article 10(b); 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.