165 Henry Condo Group Inc.

Key facts from 165 Henry Condo Group Inc.'s documents

Reflects the 1985 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Page 1 - 'Condominium' used throughout)

Legal name

BERACAH

Units / lots

30 (27 Residential, 2 Storage, 1 West Yard Unit) (Page 1 – 'twenty-seven (27) Class A apar)

Developer / declarant

C.C.L, Realty Corp.

Governing law

Article 9-B of the Real Property Law of the State of New York (Page 1 – 'pursuant to Article 9-B')

Assessments & dues

Board of Managers annually prepares a budget, determines Common Expenses, and allocates Common Charges to Unit Owners in proportion to their Common Interests. Special assessments may be imposed as needed. (By-Laws Article VI §1)

Special assessments

Yes, Board may impose special assessments. However, while Sponsor owns a Unit (up to 2 years from First Unit Closing), special assessment requires Sponsor's prior written consent. (By-Laws Article II §2q(iv); Article VI §)

Collections & liens

Condominium can place a lien on a Unit for unpaid Common Charges and may foreclose. Detailed in By-Laws Article VI §7. (By-Laws Article VI §7 (referenced in tab)

Reserves & fees

Board may create reserve funds for replacements and operating reserve. While Sponsor owns a Unit (up to 2 years from First Unit Closing), creation of reserve fund beyond a contingency fund of 4.099% of budget requires Sponsor's consent. (By-Laws Article II §2q(ii); Article VI §)

Leasing & rentals

Not explicitly prohibited; Sponsor may lease units. Board may acquire and lease units. No rental cap or minimum lease term mentioned. (Declaration Paragraph 11 (Power of Attor)

Home business

Home occupation use permitted under applicable zoning law, building code, and regulations. Professional offices by resident allowed with Board's written consent. (Declaration Paragraph 7 (Page 5-6))

Use restrictions

Residential Units may be used only for private residential purposes, except home occupations permitted by zoning and professional offices with Board consent. (Declaration Paragraph 7 (Page 5-6))

Voting & meetings

Each Unit Owner casts one vote per .0001% of Common Interest on general matters; for Board election, one vote per .0001% per member to be elected, no cumulative voting. (By-Laws Article III §8)

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