22 Stern Street Condominium

Key facts from 22 Stern Street Condominium's documents

Community type

Condominium (Title: '22 STERN STREET CONDOMINIUM')

Legal name

22 Stern Street Condominium

Developer / declarant

Brucha Vhatzlacha Trust

Governing law

Article 9-B of the Real Property Law of the State of New York (FIRST: 'submits the property... to the p)

Assessments & dues

Not fixed; set annually by Board based on budget (By-laws Article VI Section 2: 'Board sha)

Special assessments

Board may levy special assessments for additional necessary expenses or litigation costs (By-laws Article III Section 5 (item 2 an)

Collections & liens

Unpaid common charges constitute a lien on Unit prior to all other liens except tax liens and first mortgages; foreclosure in accordance with NY law (TWELFTH: 'Unpaid common charges... const)

Reserves & fees

Monthly late fee not to exceed $15 (By-laws Article VI Section 2: 'Board may)

Leasing & rentals

Yes, but Board has right of first refusal; unpaid common charges must be paid first (By-laws Article XI Section 1: 'The Board)

Parking & vehicles

Commercial license plate vehicles may not be parked for more than 24 hours (By-laws Article VIII Section 8(e): 'Comm)

Architectural approval

Written Board consent required for any exterior alterations, structures on common elements, interior alterations affecting structure, fences/gates (SEVENTEENTH (b) and By-laws Article VIII)

Maintenance

Board (common expense) for roof and roof members (By-laws Article III Section 6: 'all main)

Insurance

Board must obtain fire insurance on building at full replacement value; public liability insurance $1,000,000 per occurrence (By-laws Article VII Section 2)

Use restrictions

Yes: occupancy restricted to Residential Occupancy per zoning (SEVENTEENTH (i): 'Occupancy of the Units)

Voting & meetings

Each Unit Owner has one vote per percentage of common interest; at meetings, each Unit appoints a Manager to vote (EIGHTH: 'Each Unit Owner shall have one )

Amendments

Declaration: 66-2/3% Unit Owners in number and common interest plus 51% of mortgagee votes (by first-lien mortgages) for material changes; By-laws: 66-2/3% Unit Owners in number and common interest at a meeting with notice (TENTH and By-laws Article X)

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