27 Collins Ave Condominium

Key facts from 27 Collins Ave Condominium's documents

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

Community type

condominium (Title: "DECLARATION OF CONDOMINIUM" and )

Legal name

27 COLLINS AVE CONDOMINIUM

Developer / declarant

27 COLLINS, LLC

Governing law

Article 9-B of the Real Property Law of the State of New York (Condominium Act) (Preamble and Section 2)

Assessments & dues

Board determines Common Charges and Special Assessments pro rata according to Common Interests. (By-Laws Section 2.5(v); Definition (6) o)

Special assessments

Permitted; Board may levy Special Assessments for deficiencies, etc. (Definition (32); By-Laws Section 6.1(C);)

Collections & liens

Board may create liens for unpaid charges; subject to protections for first mortgagees. (By-Laws Article 8 (Mortgaging of Units);)

Reserves & fees

Board may establish and maintain reserve fund for working capital, replacements, and deficits. (By-Laws Section 2.5(vii), (viii); Defini)

Leasing & rentals

Yes, Units may be leased by Unit Owner to permitted lessees; restrictions may be imposed by amendment. (Section 9 (permitted lessees); Article 1)

Architectural approval

Yes, Board approval required for any alteration, addition, improvement, or change to a Unit. (Section 10; By-Laws Section 5.2)

Home business

A Unit may be partially used as a professional office by the owner of such Unit. (By-Laws Section 5.7(A) ("Any Unit may be)

Maintenance

Unit Owner responsible for painting, decorating, maintenance, and replacements within the Unit (interior walls, ceilings, floors, fixtures, windows, doors, exposed plumbing). Board responsible for Common Elements. (By-Laws Section 5.1(A))

Insurance

Board may determine deductible amounts. (By-Laws Section 5.4(C) last sentence)

Use restrictions

Use of Property shall be exclusively for residential purposes, except partial use as professional office by owner. (By-Laws Section 5.7(A))

Voting & meetings

Each Unit Owner casts one vote per Unit; in Board elections each Unit Owner elects one Board Member. Sponsor has designated votes for Unsold Units. (By-Laws Section 4.8 and 4.9)

Amendments

By vote of all Unit Owners at a meeting or by written approval. Certain amendments require mortgagee consent. (Article 18)

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