22 Stephens Place Condominium

Key facts from 22 Stephens Place Condominium's documents

Reflects the 2024 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

22 Stephens Place Condominium

Developer / declarant

22 Stephens LLC

Governing law

Article 9-B of the Real Property Law of the State of New York (Article 1, page 3; By-laws Article I Sec)

Assessments & dues

Board of Managers fixes budget at least annually; assessments prorated according to each Unit's common interest (By-laws Article VI Section 2, page 18)

Special assessments

Board may increase monthly assessments or vote a special assessment to meet additional necessary expenses (By-laws Article III Section 5(1), page 1)

Collections & liens

Unpaid common charges constitute a lien on the Unit, prior to all other liens except tax liens and first mortgage; foreclosure possible after 90 days notice (Declaration Article 12 (pages 6-7); By-l)

Pets

Pets are permitted but not to be a nuisance (By-laws Article VII Section 3 (reference)

Leasing & rentals

Leasing is allowed, subject to payment of all unpaid common charges before conveyance or lease (By-laws Article XI Section 1 (page 23))

Parking & vehicles

Commercial license plate vehicles may not be parked in the Community for more than 24 hours (By-laws Article VII Section 8(e), page 2)

Architectural approval

Prior written consent of the Board of Managers required for any structural modification or alteration to a Unit, or any alterations to the exterior or common elements (Declaration Article 17(a) (page 8); By-l)

Maintenance

Board responsible for repairs, painting, decorating inside Units and all other repairs including windows and doors; Unit owners responsible for internal installations (telephone, etc.) and for damage they cause to common elements; Board may (By-laws Article III Section 5(17), Artic)

Insurance

Board obtains fire, extended coverage, water damage, etc. insurance on building including all Units and improvements; also public liability insurance with initial limits of $1,000,000 per occurrence and $600,000 fire coverage (By-laws Article VII Section 1 (pages 19-)

Use restrictions

All Units shall be used for residential purposes only (By-laws Article VII Section 2 (page 20);)

Voting & meetings

Each Unit Owner has one vote per percentage of common interest; for Board Member Elections, each Unit Owner (including Sponsor) may cast two votes (Article 8 (page 6); By-laws Article II S)

Amendments

Amendments require 66 2/3% of all Unit Owners in number and common interest, recorded; material amendments (e.g., voting rights, assessments, insurance) require consent of mortgagees holding at least 51% of first mortgages (By-laws Article X (pages 22-23))

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