27 Hoyt Street Condominium

Key facts from 27 Hoyt Street Condominium's documents

Reflects the 2000 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Article 9-B of the Real Property Law of )

Legal name

27 HOYT STREET CONDOMINIUM

Developer / declarant

HOYT COLE DEVELOPMENT, LLC (Declaration page 1)

Governing law

Article 9-B of the Real Property Law of the State of New York (Condominium Act) (Declaration p.1)

Assessments & dues

Condominium Board determines Common Charges based on annual budget adopted by Board. (By-Laws Section 2.4(iv) and Section 6.1)

Special assessments

Condominium Board may levy Special Assessments as provided in By-Laws Section 6.1(C). (By-Laws Section 6.1(C); Declaration defi)

Reserves & fees

Common Charges may include reserve fund for working capital, replacements, or deficit. (Declaration Exhibit C definition (7)(ii))

Home business

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

Maintenance

Interior of Unit (walls, ceilings, floors, fixtures, etc.) by Unit Owner; Common Elements by Condominium Board as Common Expense. (By-Laws Section 4.11(A))

Insurance

Unit Owners may carry additional insurance; master policy not affected. (By-Laws Section 5.4(D))

Use restrictions

Units may be used in accordance with local law and certificate of occupancy; not more than one family may occupy at a time. (Declaration Article 9; By-Laws Section 5)

Voting & meetings

Each Unit Owner has one vote per Unit. Sponsor has votes as long as owns Unsold Units. Board elections: each Unit Owner elects one Board Member. (By-Laws Section 4.8(A), 4.9(A))

Amendments

Declaration may be amended by unanimous vote of all Unit Owners; written consent also allowed. Certain amendments require mortgagee consent. Sponsor may amend without vote for filing correct plans per Real Property Law Section 339-p. (Declaration Article 19(a) and (b))

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