100 Park Lane Condominium

Key facts from 100 Park Lane Condominium's documents

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

Community type

Condominium

Legal name

100 Park Lane Condominium

Developer / declarant

Pinchus Rabinowitz and BI Family Trust (First page of Declaration)

Governing law

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

Assessments & dues

Board determines and levies 'common charges' to cover common expenses, payable in advance. Assessments pro-rated among Unit Owners according to their respective common interest. (By-laws Article III Section 5.1; Article)

Special assessments

Board may vote a special assessment in any amount to meet additional necessary expenses. (By-laws Article III Section 5.1)

Collections & liens

Unpaid common charges constitute a lien on the Unit prior to all other liens except tax liens and first mortgages. Lien may be foreclosed when past due in like manner as a mortgage. Board may purchase Unit at foreclosure sale. (Declaration Article 12; By-laws Article )

Reserves & fees

Interest at maximum amount permitted by the State of New York from due date. (By-laws Article IX (Default): 'said sum )

Pets

Pets are allowed but must not be used in a manner that is illegal, disturbing, or a nuisance, or injurious to the reputation of the Condominium. (By-laws Article VIII Section 3)

Leasing & rentals

Leasing is implicitly allowed; any sale or lease in violation of the right of first refusal and payment of common charges is voidable at election of Board. No express prohibition, but Board has oversight. (By-laws Article X Section 1)

Insurance

Fire, extended coverage, water damage, vandalism, malicious mischief, public liability insurance. Minimum fire insurance $600,000 until first meeting. Public liability $1,000,000 until first meeting. (By-laws Article VII Section 1)

Use restrictions

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

Voting & meetings

Each Unit Owner shall have one vote for each percentage of common interest set forth in EXHIBIT B. At any meeting of Unit Owners, each Unit shall appoint a Manager and such Manager shall be entitled to vote in person, or by proxy. (Declaration Article 8; By-laws Article I)

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