25 Herrick Avenue Condominium

Key facts from 25 Herrick Avenue Condominium's documents

Reflects the 2019 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Page 1)

Legal name

25 HERRICK AVENUE CONDOMINIUM

Developer / declarant

KOL RINA LLC, 4 Wallenberg Circle, Monsey, New York 10952 (Page 1, Declaration preamble)

Governing law

Article 9-B of the Real Property Law of the State of New York (Condominium Act) (Page 1, Article 2)

Assessments & dues

Board prepares annual budget and sets Common Charges; allocated pro-rata according to Common Interest of each Unit (Page G-2: Section 2.4(iv)-(v); definitio)

Special assessments

Assessed by Board pro-rata by Common Interest for costs not covered by regular Common Charges; limited during declarant control period (Page G-2: Section 2.4(v); Page G-4: Sect)

Reserves & fees

May be established; during declarant control, only a 12-month reserve not exceeding 10% of budgeted operating expenses allowed unless for legal/health/safety (Page G-5: Section 2.5(B))

Architectural approval

Yes, for alterations, additions, or improvements to any part of property allocated to a unit (except purely interior) and for exterior changes differing from original design; Board approval required (Page 6-7: Section 10 Alterations; Page G)

Use restrictions

Each Unit may be used solely for residential purposes in accordance with local law and zoning; only one family per Unit (Page 6: Section 9 Use of the Units)

Voting & meetings

Each Unit Owner casts one vote per percentage of common interest owned; cumulative voting allowed; Sponsor can vote as long as it owns Units; units with perfected liens cannot vote; Board does not vote on units it owns (Pages G-13: Section 4.8 Voting; Section )

Amendments

Declaration amendment requires vote of at least 66 2/3% of Unit Owners in number (and in common interest if in writing); material amendments require consent of eligible mortgage holders representing at least 51% of votes of unit estates sub (Page 9-10: 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.