23 Collins Avenue Condominium

Key facts from 23 Collins Avenue Condominium's documents

Reflects the 2017 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Title: '23 COLLINS AVENUE CONDOMINIUM')

Legal name

23 COLLINS AVENUE CONDOMINIUM

Governing law

Article 9-B of the Real Property Law of the State of New York (Declaration introductory paragraph)

Assessments & dues

Not set in document; determined annually by Board (By-Laws Section 5.16(A): 'Condominium Bo)

Special assessments

Board may levy Special Assessments for Common Expenses, in proportion to Common Interests, with at least 15 days' notice (By-Laws Section 5.16(C))

Collections & liens

Board may enforce collection of unpaid Common Charges by lien and foreclosure; provisions in Article 6 and Section 8.3 (By-Laws Section 8.3 ('Notice of Unpaid C)

Reserves & fees

Sponsor's consent required for creation or replacement of reserve fund; board may establish a 12-month contingency reserve not exceeding 10% of budget without Sponsor consent; also limited by Section 2.5(iv) (By-Laws Section 2.5(ii) and Section 2.5 )

Leasing & rentals

Yes, but subject to right of first refusal (Article 7) and restrictions on transient occupancy; amendment to impose leasing restrictions requires 67% vote (By-Laws Article 7 (RIGHT OF FIRST REFUSA)

Architectural approval

Yes, board approval required for alterations, additions, or improvements to units (By-Laws Section 5.2: 'right to... altera)

Maintenance

Owner responsible for interior maintenance and repairs of unit and limited common elements (decks); Association responsible for common elements (By-Laws Section 5.1; Declaration Section)

Insurance

Board may determine deductible amounts (By-Laws Section 5.4(C): 'Insurance polic)

Use restrictions

Units may be used only for residential purposes permitted by law; no transient occupants (By-Laws Section 5.7(B): 'A Unit may be o)

Voting & meetings

Each unit owner casts one vote per unit owned; in board elections each unit elects one board member (By-Laws Section 4.8(A) and 4.9(A))

Amendments

By vote of at least 67% in number and common interest of all unit owners; certain matters require mortgagee consent; Sponsor may amend without vote for incomplete portions (Declaration Section 19)

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