66 Twin Ave Condominium

Key facts from 66 Twin Ave Condominium's documents

Reflects the 2021 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

66 TWIN AVE CONDOMINIUM

Developer / declarant

66 TWIN LLC (Page 3, first paragraph)

Governing law

Article 9-B of the Real Property Law of the State of New York (Page 3, Section 2)

Assessments & dues

Board determines Common Charges and Special Assessments (By-Laws Section 2.4(v))

Special assessments

Allowed; Board may assess (By-Laws Section 2.4(v) and 6.1)

Collections & liens

Board may perfect a lien for unpaid common charges; voting suspended until lien released (By-Laws Section 4.8(B) and Article 9)

Reserves & fees

Board may establish reserve; during Sponsor control, limited to 12-month contingency not exceeding 10% of budgeted operating expenses (By-Laws Section 2.5(B)(iv))

Leasing & rentals

Yes, subject to right of first refusal (Declaration Article 7, By-Laws Section 7)

Architectural approval

Prior written consent of Board required for alterations, additions, improvements to any part of Property allocated to unit (By-Laws Section 5.2(A)(ii))

Home business

Professional office by owner of the Unit allowed (By-Laws Section 5.7(A))

Maintenance

Unit owner maintains interior, plumbing, gas, heating fixtures; Board maintains Common Elements; limited common elements by benefiting unit owner (By-Laws Section 5.1 and Declaration Arti)

Insurance

Property insurance (all-risk) on building, comprehensive general liability, rent insurance, workmen's compensation, boiler and machinery (By-Laws Section 5.4(A)-(B))

Use restrictions

Units shall be used as private residences (By-Laws Section 5.7(A))

Voting & meetings

One vote per Unit; cumulative voting for Board; Sponsor retains control when owning majority of Units (By-Laws Sections 4.8 and 4.9, and 2.7)

Amendments

Vote of at least 66 2/3% in number and common interest of Unit Owners (Declaration Article 19(a))

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