42 Summit Ave Condominium

Key facts from 42 Summit Ave Condominium's documents

Reflects the 2025 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

42 SUMMIT AVE CONDOMINIUM

Developer / declarant

DUVR TUV LLé

Governing law

Article 9-B of the Real Property Law of the State of New York (Condominium Act) (Pursuant to Article 9-B of the Real Prop)

Assessments & dues

Board prepares budget and determines Common Charges and Special Assessments; Common Charges are allocated pro-rata according to Common Interests (By-Laws Section 2.4(iv)-(v); Definition )

Special assessments

Allowed; defined as charges allocated pro-rata per Common Interest in accordance with Section 6.1(C) of By-Laws; limitations during Sponsor control: Special Assessments for reserves exceeding 5% of estimated Common Expenses require Sponsor (Definitions (32); By-Laws Section 2.5(A))

Collections & liens

Board may perfect a lien against a Unit for unpaid common charges; voting rights suspended if lien perfected and unpaid; Board may enforce by legal means (By-Laws Section 4.8(B); Section 2.4(xvii)

Reserves & fees

Common Charges may include a reserve fund for working capital, replacements; during Sponsor control, reserves cannot exceed 10% of budgeted operating expenses for 12 months without 75% approval; Special Assessments for reserves limited to 5 (Definition (7); By-Laws Section 2.5(A)(i)

Architectural approval

Alterations, additions, or improvements to part of Property allocated to Unit require written approval of Board; change of layout requires approval; no physical modification to other Units without consent (By-Laws Section 5.2(A))

Home business

Only professional office by owner (partial use) (By-Laws Section 5.7(A))

Maintenance

Association (roof is part of Common Elements) (Definition (5) Common Elements includes )

Insurance

Board may determine deductible amounts (By-Laws Section 5.4(E))

Use restrictions

Units may be used in accordance with local law, zoning, and certificate of occupancy; each Unit may be partially used as a professional office by owner only (By-Laws Section 5.7(A))

Voting & meetings

Each Unit Owner entitled to one vote per percentage of interest owned; cumulative voting allowed; Sponsor has same voting right; no vote if lien perfected and unpaid; Board or designee cannot vote on Units they own (By-Laws Section 4.8; Section 4.9)

Amendments

Declaration amendment requires vote of all Unit Owners; Sponsor may amend for certain purposes without vote (to complete filing of Floor Plans); material amendments require consent of eligible mortgage holders holding 51% of votes of unit e (Declaration Article 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.